and Ernst with the aforementioned Whinney Smith & Whinney. Starting in 1924, these two American firms became allied with prominent British firms Young with Broads Paterson & Co. was set up by a Scotsman accountant, Arthur Young, in Chicago. In 1903, the firm Ernst & Ernst was founded in Cleveland, Ohio, by Alwin C. After his son joined the firm, it was later renamed Whinney, Smith & Whinney, in 1894. That same year, this firm was joined by an accountant named Frederick Whinney, who, a decade later, became a partner. History Early history and mergers ĮY resulted from several mergers of ancestor firms over the last century and a half, the oldest of which was founded in 1849, in England, as Harding & Pullein.
1.3 21st Century: Recent history, re-branding and expansion. EY has continuously been ranked on Fortune magazine's list of the 100 Best Companies to Work For for the past 21 years, longer than any other accounting firm. In 2019, EY was the seventh-largest privately owned organization in the United States. It was named Ernst & Young until a rebranding campaign officially changed its name to EY in 2013, although this initialism was already used informally prior to its sanctioning adoption. The firm's current partnership was formed in 1989 by a merger of two accounting firms Ernst & Whinney and Arthur Young & Co. ĮY operates as a network of member firms which are structured as separate legal entities in a partnership, which has 312,250 employees in over 700 offices in more than 150 countries around the world. Like many of the larger accounting firms in recent years, EY has expanded into markets adjacent to accounting, including strategy, operations, HR, technology, and financial services consulting. It primarily provides assurance (which includes financial audit), tax, consulting and advisory services to its clients. Along with Deloitte, KPMG and PricewaterhouseCoopers, it is considered one of the Big Four accounting firms. EY is one of the largest professional services networks in the world. Ernst & Young Global Limited, doing business as EY, is a multinational professional services network with headquarters in London, England.
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