Ernst & Young has a tech growth problem the size of Silicon Valley, and the firm’s failure to spin off its consulting business has eliminated what it envisioned as a way out.
Like all accounting firms, it is barred from forming lucrative consulting partnerships with its audit clients, but the restriction is especially onerous for EY, with its audit roster of tech heavyweights like Amazon, Alphabet, and Salesforce. Its inability to team up with such companies to build and sell tech solutions hamstrings its consulting practice, forcing it to leave millions of dollars on the table for in-demand services crucial ...
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