EY looks to spin off audit division

EY is exploring a global restructuring that could see it spin off the audit division from its advisory business, according to reports in the national newspapers in the UK and Australia.

The Big 4 firm confirmed it was in the very early stages of separating from the rest of the businesses. This would be a far bigger step than just ‘operational separation’ which seems the preferred choice of the other Big 4 firms.

Such a move would have to gain consent among EY’s 12,000 plus partners and is still month’s away from a vote.

Interestingly., it has been suggested if the firm breaks into two just one will be able to retain the EY name!