 "EY plans to spin off audit, consulting units to ease regulatory concerns")
Professional services firm Ernst & Young said on Thursday it was planning to split its audit and consulting units into two companies, as it looks to ease regulatory concerns over potential conflicts of interest.
“This is something that will change the industry,” Carmine Di Sibio, EY’s global chairman and chief executive, said in an interview.
Rivals beg to differ. Deloitte, KPMG and PricewaterhouseCoopers have all said they plan to keep consulting and auditing under one roof. These other Big Four firms hope to exploit EY’s focus on its restructuring to poach clients and employees, according to people familiar with the matter.
“That’s to
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