EY Split Being Reshaped, But Still on Track, Firm Insists (1)

Global accounting and consulting giant Ernst & Young will forge ahead with plans to break up the $45 billion firm, even as it reconsiders how to carve up its tax practice following pushback from US leaders.

At issue is how the firm’s tax service would be divided—dispatching most of its tax professionals to its consulting business with the remainder staying with the audit practice. How to parse those employees will be reworked, said a source familiar with the internal negotiations among the firm’s top leaders.

“We are engaging in a dialogue with the largest EY country member firms to determine ...