Partner One

Why doesn’t EY have a Consulting division/practice, like the other big 4s? I have heard EY sold it off to Capgemini in the last decade and can’t have consulting practice for a few more years.

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All big 4 have consulting practices. Time for a history lesson. After the Enron scandal, which was followed by the creation of PCAOB and Sarbanes-Oxley where we became a regulated industry, 3 of 4 (all but Deloitte) have sold theirs off. EY’s went on to become Cap, KPMG’s Bearing Point and PWC’s went to IBM. Arthur Andersen died but their consulting practice became Accenture and their regulatory consulting arm went on to become Protiviti. Almost immediately the remaining 3 started to rebuild their consulting practices. However at first they focused on providing advice only (assess and some design) vs providing full suite of services, ie through implementation and managed services. They called their practices Advisory, which is what they’re called to this day. The only exception to this is Deloitte where Advisory is primarily their regulatory consulting arm. And again, this is because Deloitte never sold their consulting practice off but they still wanted to get into the Sarbanes-Oxley game and compete with the others in that area and it made sense to structure it in Deloitte & Touche vs Deloitte Consulting. Overtime as regulations became better interpreted and the market conditions changed, the Big3 started to fully get into the end-to-end consulting game and their Advisory practices became full blown consulting practices. However they’re still on various stages of build and although all are substantial in size, some are bigger than others and their focus and ability to compete in the market, against Tier 1s in specific fields, differ. They all see Advisory as their growth engine and it’s only a matter of time before they’re fully rebuilt. That said, regulations continue to be a concern, for example in the UK, all have announced that they will not do both consulting and audit at the same clients due to recent scandals.

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Thanks for edit!

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That being said, I wish EY would legally separate their advisory practice. They have so many amazing audit clients that we on the advisory side would LOVE to consult for, but we can’t.

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Exactly what D1 said.

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And ‘I know’ You guys at EY don’t understand sarcasm :)

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Parthenon is their MC division

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helpful
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What is Parthenon, MC, and SC?

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