The Challenge for E Y to Separate Its Consulting and Auditing Business

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e y is looking at a public listing or partial sale of its global advisory business to separate its consulting work from its auditing business. In recent years, there's been huge pressure on the firms to avoid perceived conflicts between the two businesses. Michael says greer's clash with e y's global boss isn't related to this, but it hints at how difficult the corporate split up could be. If those two people can't agree on something as fundamental as that, then allining 13 thousand partners around a once in two decades break up will be somewhat tricky.

The head of EY’s US business quit the Big Four accounting firm after a power struggle with its global boss, and German police raided DWS and Deutsche Bank offices over allegations DWS misrepresented green investments. Plus, Hungary’s autocratic prime minister is trying to build a superbank to increase his financial control over the country.

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Mentioned in this podcast:

EY’s US boss quit after clashing with global chief of Big Four firm

German police raid DWS and Deutsche Bank over greenwashing allegations

The Bank of Viktor Orbán

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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