EY may be taking steps to draw a broader line between audit and consulting services in the United Kingdom, but the U.S. firm has no such plans. PwC, meanwhile, has remained silent on the same subject.
Following reports that EY and PwC informed U.K. authorities they would stop offering consulting services to audit clients, EY in the United States says it remains committed to its current business model. “In a rapidly innovating and evolving global business environment, it is more important than ever that the full breadth and depth of audit firms’ subject-matter expertise, supported by the multi-disciplinary business model, continue to serve as a crucial foundation for delivering the highest quality audits,” the firm said in a statement.
EY in the United Kingdom confirmed it is taking steps to phase out non-essential audit services for its largest audit clients, or the top 350 companies in the Financial Times Stock Exchange. “We will work with our regulators to agree on...