Ernst & Young
One of the Big Four professional services networks.
EY, previously known as Ernst & Young, is a multinational professional services network based in London, England. Along with Deloitte, KPMG and PwC, it is one of the Big Four professional services firms. The EY network is composed of member firms of Ernst & Young Global Limited, a UK company limited by guarantee. EY is one of the largest professional services networks in the world, primarily providing assurance, tax, information technology services, consulting, and advisory services.
- founded
- 1989 (merger of Ernst & Whinney and Arthur Young & Co.)
- headquarters
- London, England
- field
- Professional services (assurance, tax, consulting, advisory)
- known_for
- One of the Big Four accounting firms; rebranded from Ernst & Young to EY in 2013
Lore & Background
Ernst and his brother Theodore Ernst. was set up by Scottish accountant Arthur Young in Chicago. A decade later, in 1989, Ernst & Whinney merged with Arthur Young & Co. to create Ernst & Young. In May 2000, Ernst & Young was the first of the Big Five to fully separate its consulting practices via a sale to Capgemini for $11 billion. In 2002, the firm took on many clients from Arthur Andersen following its collapse in connection with the Enron scandal. The firm officially changed its brand from Ernst & Young to EY in 2013.
Reader's Guide
EY's significance lies in its position as one of the Big Four professional services networks, providing assurance, tax, consulting, and advisory services globally. However, it has repeatedly come under scrutiny for systemic issues in training, hiring, and work culture. EY also played a role in reviewing Vatican City State's finances in 2013.
Did You Know?
- EY was originally named Ernst & Young until a rebranding campaign officially changed its name to EY in 2013.
- In 2000, Ernst & Young was the first of the Big Five firms to fully separate its consulting practices via a sale to Capgemini for $11 billion.
- In 2013, the Pope of the Roman Catholic Church hired EY to help review Vatican City State's finances.
Frequently Asked Questions
What is Ernst & Young?
Ernst & Young, now simply called EY, is a global professional services network headquartered in London, England. It operates as one of the four largest firms of its kind alongside Deloitte, KPMG, and PwC.
How was Ernst & Young created?
The firm came into existence in 1989 when two separate accounting practices—Ernst & Whinney and Arthur Young & Co.—merged into a single entity. That combination instantly placed it among the largest professional services networks on the planet.
Why is Ernst & Young considered important in the business world?
As a Big Four firm, EY helps set the standard for how large organizations approach auditing, tax planning, and strategic consulting. Its London-based parent, Ernst & Young Global Limited, coordinates member firms operating in dozens of countries.
Why did Ernst & Young change its name to EY?
In 2013 the firm dropped its full name and rebranded simply as EY to project a more modern, unified global identity. The change was cosmetic; the underlying services, structure, and client relationships remained the same.
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