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I’d suggest you Google this - several articles that explain this fairly well. In a nutshell Assurance and all the regulation around it puts a drag on our other Service Lines. This is not my opinion just part of the stated reasoning for the split.
That would be very strange. Never worked at EY but typically consulting/tax advisory have way higher margins than traditional audit and tax prep work which is effectively commoditized at this point.
EY will not go public. I am assuming EY will still be the name of the audit firm that would stay as a partnership. If they spin off consulting, it would not be EY anymore and would potentially be similar to Accenture. All high level speculation
Yes, the global CEO has publicly acknowledged that the plan is going to be voted on by the global executive committee imminently, and will be presented to the partners for a yes/no vote within the next couple of months-ish.
The biggest remaining hurdle would be convincing the partners in key countries (US, UK, Germany, Australia, Etc) that this is in their best interest. There will be significant financial incentives to convince them of this in the form of ability to sell stock. It’s far from a done deal but seems quite possible.
The auditors would be left behind in “Assure Co” and substantially all others would be sent to the PubCo. Assure Co would not be restricted from rebuilding its own tax practice, or consulting practice, subject to independence rules.
This is all in FT/WSJ articles.
I don’t think I will. I heard 75% and people thinking more than 25 will need to stay with Assureco