Ernst & Young could separate its audit practice from the rest of its business and is weighing whether to restructure the firm as part of a routine review of its global business, an assessment that comes as European regulators eye tougher oversight after a string of accounting scandals.
“We are in the early stages of this evaluation, and no decisions have been made,” EY’s global arm said Thursday in a statement to Bloomberg Tax. “Any significant change would only happen in consultation with regulators and after votes by EY partners.”
Such a move—which would be the largest shake-up in the ...