Page 3 - Ernst & Young

Over half of GCCs in India 'actively' adopting ESG agenda: Report

70% 'actively looking' for technology collaborations to implement ESG norms, says EY

Generative AI emerges as strategic focus for tech services companies

Evolving GenAI landscape shapes strategic focus for technology services, according to a recent EY study

EY added $700 million in extra debt for failed spinoff costs: Report

Borrowing at the accounting firm more than tripled from a year earlier to $983 million as of June 30, 2023, as it expanded an existing floating credit rate facility and took out a new one

India Inc seeks tax reforms, R&D incentives in upcoming interim Budget: EY

EY said that no major tax amendments or reforms are expected in the upcoming Budget as evidenced from the previous Interim Budgets of 2009, 2014 and 2019

Global corporate landscape 2023: Mergers, closures, and leadership shifts

From acquisitions & mergers to resignations 2023 has been a year of significant milestones in the global corporate world. Here is a recap on all the major event that unfolded in 2023

More than 80% Indian CEOs investing in GenAI for competitive edge: Report

Most of them have either completed or are hiring new talent with GenAI skills: EY

Central ministries gave contracts worth Rs 500 crore to 'Big Five' firms

About fifty organisations and 16 departments/ ministries outsourced work to these consultancy firms, which include PwC, Deloitte, Ernst & Young and KPMG, along with McKinsey & Company

Majority organisations' very concerned' on impact of data law: EY study

While the rules that would provide exact processes of the DPDP Act are yet to be notified, the government has consistently claimed that large organisations must not require much time to comply

Cong cites news on Adani's auditor, says something truly rotten in group

The Congress on Thursday cited a media report that one of the Adani Group's longtime auditors is being scrutinised by India's accounting regulator to allege that "something is truly rotten" in the conglomerate. Congress general secretary Jairam Ramesh's attack on the Adani Group came after a media report claimed that the National Financial Reporting Authority (NFRA) has in recent weeks started an inquiry into one of the member firms of EY in India, S R Batliboi. In his post on X, Ramesh said, "In May 2023, a little-known statutory auditor of Adani Total Gas Ltd resigned. In August 2023, another statutory auditor this time an internationally known firm resigned after flagging concerns on financial transactions of Adani Ports." In October 2023, comes news of a third statutory auditor also a big name in the profession of five listed Adani Group companies being itself investigated by the National Financial Reporting Authority, Ramesh said. "Something is truly rotten in Modi's ...

NFRA probing Adani Group's auditor SR Batliboi, an EY member firm

In a statement on Wednesday, Adani Group rejected any suggestions that the company and its business have not acted as per the regulations and accounting standards of the jurisdictions they operated in

SR Batliboi, an Adani Group auditor and EY member firm, faces NFRA inquiry

The National Financial Reporting Authority, or NFRA, has in recent weeks started an inquiry into one of the member firms of EY in India

Sebi empanels 12 entities to provide onsite digital forensic services

Capital markets regulator Sebi has empanelled 12 entities, including Ernst & Young LLP and KPMG Assurance and Consulting Services LLP, to provide assistance to its search team for onsite data acquisition during search and seizure operations. The other empanelled entities are -- Baker Tilly Business Advisory Services, Cybermate Forensics & Data Security Solutions, Cyint Technologies, ECS Info Tech, Innefu Labs, Mahen Technologies, Nangia & Co LLP, Netrika Consulting India, Pelorus Technologies and Systools Software, according to a notice by Sebi last week. They have been empanelled for providing digital forensic services to the regulator following the completion of the empanelment process. The empanelment will be valid for a period of two years. In August, the Securities and Exchange Board of India (Sebi) invited applications for empanelment of service providers experienced in the field of digital forensic services. The applications were invited from eligible service ...

Big Four accounting firms make $4 bn from India biz; expand into consulting

The Big Four have overhauled their operations over the past few years to gain a wider share in the high-demand advisory and technology services firms

86% GCCs keeping service expansion as top priority over the next 1 year: EY

EY, in a report, added that the leading agenda of these GCCs continues to be driving enterprise-wide digital transformation

EY announces launch of AI platform EY.ai, $1.4bn invested over 18 mths

EY's announcement of launching a dedicated AI platform comes as players in the IT services space has also announced billions of dollar investment in creating expertise

DeepTech SaaS firms can unlock a CAGR of up to 50%: Nasscom report

The study by industry body Nasscom in collaboration with EY India found that one out of four Indian B2B SaaS companies was focused on new inventions in DeepTech

Global capability centres expand operations in India, hiring more IT talent

GCCs are expected to hire around 2.6 million people in India by the end of 2030, according to a report by EY

PE/VCs investment in India falls 44% to $3.5 billion, says report

The dedicated funds had invested $6.2 billion in May 2022 and $7.4 billion in the preceding month of April 2023, representing a dip of 44 per cent and 52 per cent, respectively

Indian GCC market size to grow 144% to $110 billion by 2030: EY report

The GCC industry is expected to hire around 2.6 million people in India by the end of this decade

Nearly 81% firms face shortage of skilled tech workers: EY and iMocha

Only 19 per cent reported having established skill taxonomy; 43 per cent have conducted skill benchmarking at the employee level