EY Plan to Split Audit, Consulting Shifts Into Next Phase

Now comes the hard part for Ernst & Young.

Three months after EY disclosed that it would break up its audit and consulting arms, the global accounting firm is expected to move ahead with its restructuring as soon as this week and begin seeking support from partners and regulators.

As it does, clients, investors, and competitors will be watching for details on how the firm will disentangle its businesses and what it means for reliable financial reporting. Up to now, EY has only given a broad brush description of its plans.

A split could allow both EY’s audit and consulting ...