To split or not to split: EY confronts the question

Plans to split EY, the Big Four accounting firm, by spinning off its advisory arm from its audit business is put to EY partners for a vote. Partners would receive big cash payments for the audit side and shares in the yet-to-be-named public company for the other 7,000.

March 7, 2023 . 8:51 AM

1 min read

EY's global chair, Carmine Di Sibio, plans to split the Big Four accounting firm by spinning off its advisory arm from its audit business.
The project will soon be put to EY partners for a vote, with a 75% supermajority needed for approval.
The advisory business would seek a stock market listing, aiming to emulate the success of Accenture.
Partners would receive big cash payments for the audit side and shares in the yet-to-be-named public company for the other 7,000.
The new business would need to sustainably achieve its level of profitability, and how plausible the market finds its ambitious growth targets.