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  • News - EY continues its quest to advance purpose-led transformation all around the world - EY - Global
    their collective ambition to transform the working world Valerie Keller EY Beacon Institute Global Leader says The EY Beacon Institute is advancing the purpose led transformation movement of corporations who are defining success beyond profit growing and innovating in ways that generate sustainable shared value for all their stakeholders Through our commitment to CGI the creation of the virtual institute we will bring the insights from EY Beacon to companies all over the globe equipping those who are on a shared journey of building a better working world Through collaborations with leading academic institutions including Oxford University Saïd Business School St Gallen University and Harvard Business Review Analytic Services the EY Beacon Institute deepens research driving the new frontier of innovation transformation and growth in business that focusses on more than just profit New research uncovers the power behind purpose The timing of the CGI commitment comes as new research commissioned by the EY Beacon Institute and conducted by Harvard Business Review Analytic Services HBRAS highlights how executives view the power of purpose to grow and transform their organizations and measures the challenges of embedding it within their companies The new report The Business Case for Purpose surveyed 474 c suite executives globally and found Most executives believe purpose matters 89 of executives surveyed said a strong sense of collective purpose drives employee satisfaction 84 said it can affect an organization s ability to transform 80 said it helps increase customer loyalty However only a minority of executives say their company currently runs in a purpose driven way 46 said their company has a strong sense of purpose 44 say their company is trying to develop one Importantly companies with a strong sense of purpose are able to transform and innovate better 53 of executive at companies with a strong sense of purpose said their organization is successful with innovation and transformation efforts Just 19 report transformation success at companies where leaders have not thought about purpose Launched at the 2015 World Economic Forum in Davos Switzerland the EY Beacon Institute hopes to catalyze 21st Century business transformation by deepening research and convening its community of executives entrepreneurs investors and academics to advance the change agenda define critical barriers and implement solutions EY is passionate about purpose led transformation because it has been an important part of our journey enabling us to work with our clients in a meaningful transformational way and serving as a powerful force for attracting new talent added Keller Extending the EY Beacon Institute is one way we are living our purpose of building a better working world while expanding the frontier of innovation and growth for businesses globally Today s commitment represents the latest EY has made at CGI since 2008 others include In 2008 EY firms pledged 1 million in pro bono services to Kiva the world s first and largest online lending platform with a mission to connect people through lending to alleviate poverty In 2011 EY became a founding member of Third

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-through-commitment-to-the-clinton-global-initiative-ey-continues-its-quest-to-advance-purpose-led-transformation-all-around-the-world (2016-02-10)
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  • News - EY - Eighty-five percent of organizations globally are yet to achieve close alignment between risk and business objectives - EY - Global
    do not utilize a governance risk and compliance technology Ninety seven percent of organizations have made progress in linking their risk management and business objectives however a staggering 85 haven t created closer links according to EY s global governance risk and compliance GRC survey 2015 There s no reward without risk The survey of governance risk and compliance management GRC which is based on the responses from 1 196 C suite leaders board audit committees and assurance and compliance executives across all major industries in 63 countries also cited that 66 of organizations risk management has limited involvement in business decision making today Eighty eight percent of respondents indicate that their Board or their Board committee provides oversight of the organizations risk management activities However their Board s ability to provide oversight could be enhanced by more frequent evaluations of the organizations risk profile Seventy seven percent of the respondents only evaluate their organizations risk profile on an annual basis limiting their ability to adjust their business strategy based on changes to their risk landscape The global survey finds that organizations are making progress in improving the way they manage risk in response to changing landscape However organizations also indicated that there is still further room for improvement and opportunities to be seized Paul van Kessel EY s Global Risk Leader says Organizations today are challenged with managing a rapidly changing risk landscape as a result of market volatility geopolitical crisis wide spread economic changes regulatory reforms and cyber threats While this creates many challenges for organizations it is important to think manage and respond to risk differently find where there s opportunity in risk and protect against the risk you would like to avoid With the knowledge that risks are a never ending challenge and new risks will be encountered every day a stepped approach to risk management is required in order to build a risk aware organization Linking risk strategy and business performance Organizations are able to clearly identify the key risks to own that not only result in negative consequences but also those that generate value enabling a direct linkage between risk and business performance Eighty five percent of the respondents indicated opportunity exists to further improve the linkage between risk and business performance and 90 of respondents indicated their company s risk profile slightly or significantly influences their capital allocations Effective operating model for better risk control Respondents clearly recognized the value of a well coordinated operating model 67 expected activities to be well coordinated within three years However only 56 of respondents organizations have created a chief risk officer position to provide oversight over risk management activities Leveraging technology and frequent risk communication to efficiently manage risk Organizations must view technology as a way to more efficiently and effectively execute as well as sustain their response to risk The survey found that 46 of the respondent organizations still do not utilize GRC technology Leading organizations prepare scorecards dashboards and other forms of reporting for

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-eighty-five-percent-of-organizations-globally-are-yet-to-achieve-close-alignment-between-risk-and-business-objectives (2016-02-10)
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  • News - EY appoints Benoit Laclau to global power & utilities leader - EY - Global
    Tax Advisory Global Trade Global Compliance and Reporting Human Capital Private Client Services Law Tax Accounting Tax Performance Advisory Tax Policy and Controversy Transaction Tax VAT GST and Other Sales Taxes Transfer Pricing and Operating Model Effectiveness Strategic Growth Markets How we help Entrepreneurship EY SGM Initial public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Newsroom EY appoints Benoit Laclau to Global Power Utilities Leader EY appoints Benoit Laclau to Global Power Utilities Leader London 24 September 2015 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share EY announces the appointment of Benoit Laclau as the Global Power Utilities Leader overseeing EY s global network of 4 400 sector professionals Laclau comes to this position after serving as the organization s Global Power Utilities Advisory Leader He has more than 20 years of consulting and sector experience advising leading global utilities on business transformation market entry strategies IT transformation and cost reduction smart metering and customer and billing systems transformation He takes charge at a time of immense change in the sector as shifting demand patterns increased generation from renewables more empowered customers smarter grids and new technologies create new challenges and opportunities for utilities Laclau says The traditional utility business model is changing before our eyes How energy is produced who generates it and how it is bought sold and distributed is evolving I look forward to shaping our global response to our client s changing needs and continue to build on the support we provide to companies around the world as they undergo immense transformation and create a lasting legacy for the future Laclau succeeds Alison Kay who occupies the role of Global Vice Chair Industry at EY He will continue to work as a senior advisory partner to several clients ends Notes to Editors About EY EY is a global leader in assurance tax transaction and advisory services The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over We develop outstanding leaders who team to deliver on our promises to all of our stakeholders In so doing we play a critical role in building a better working world for our people for our clients and for our communities EY refers to the global organization and may refer to one or more of the member firms of Ernst Young Global Limited each of which is a separate legal entity Ernst Young Global Limited a UK

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-appoints-benoit-laclau-to-global-power-and-utilities-leader (2016-02-10)
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  • News - television's biggest night fast approaches as EY tabulates the votes for the 67th Emmy® Awards - EY - Global
    here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Newsroom Television s biggest night fast approaches as Ernst Young LLP tabulates the votes for the 67th Emmy Awards to reveal who will go home with the gold Television s biggest night fast approaches as Ernst Young LLP tabulates the votes for the 67th Emmy Awards to reveal who will go home with the gold Los Angeles 16 September 2015 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share Awards to reveal who will go home with the gold null Ribbon 20 20Facebook blank link Middle Content title Facebook Awards to reveal who will go home with the gold source ey com null Ribbon 20 20LinkedIn blank link Middle Content title Linkedin Awards to reveal who will go home with the gold null Ribbon 20 20StumbleUpon blank link Middle Content title Stumbleupon Awards to reveal who will go home with the gold via EYNews null Ribbon 20 20Twitter blank link Middle Content title Twitter The ballots are in and the world is eagerly awaiting the results of the 67th Emmy Awards as Ernst Young LLP oversees the voting and tabulation process for television s biggest night and takes safeguards to protect the integrity and security of the identity of the winners The Awards will be telecast live on FOX on Sunday September 20 2015 at 5 p m PT 8 p m ET from the Microsoft Theater in Los Angeles California Ernst Young LLP a leader in assurance tax transaction and advisory services has been overseeing the balloting process for the Emmy Awards for 27 years Ernst Young LLP worked closely with the Television Academy to oversee the process for the Emmy Awards transition to online voting which was used this year to determine both nominees and winners Andy Sale Ernst Young LLP lead partner serving the Television Academy says The security and accuracy of the voting process is paramount to everything we do As new voting technologies are introduced it becomes critical to make sure every possible safeguard is in place to ensure the results adhere to the strict standards we have been enforcing on behalf of the Television Academy for more than a quarter century Ernst Young LLP implements numerous precautions to help ensure accuracy and safeguard results until they are announced onstage including multiple sets of sealed envelopes transported to the ceremony in separate cars triple checking all results keeping control of each envelope until it is handed to the presenter hand sealing every envelope and internally printing the winners envelopes so the results never leave the organization s Los Angeles office In the 27 years Ernst Young LLP has been handling the Emmy Awards there has not been a security breach in the balloting process And once again the envelopes containing the names of the winners will be escorted down

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-television-biggest-night-fast-approaches-as-ey-tabulates-the-votes-for-the-67-emmy-awards-to-reveal-who-will-go-home-with-the-gold (2016-02-10)
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  • News - EY - policy changes shake up renewable energy country attractiveness - EY - Global
    energy investment UK drops out of top 10 for the first time in index history Elevated renewables ambitions see India Brazil and Chile continue ascent Policy shifts around the world have prompted a major shuffle of EY s Renewable energy country attractiveness index RECAI with the US replacing China at the top of the list after losing the position a year ago the new report reveals President Barack Obama s much awaited Clean Power Plan CPP in the US sends a strong message of accountability at the state level for the shift to a low carbon economy and is expected to galvanize a significant increase renewable energy investment over the next 15 years Ben Warren EY s Global Power Utilities Corporate Finance Leader and RECAI Chief Editor says The CPP is the most comprehensive far reaching and flexible emissions legislation in the US to date and gives a clear steer on the country s long term energy strategy Targets alone will not construct new projects but long term visibility increases investor confidence that demand is there and maintains momentum as we hurtle towards universal grid parity for renewables Policy changes are having a negative influence however where they slow or stall momentum in markets where grid parity is almost within reach such as the UK Germany Spain and Australia each falling in the RECAI rankings this issue India s economic political and energy market reforms as well as ongoing significant foreign investment moved the country into third position ahead of Germany where a new auction regime is not expected to accelerate the pace of deployment in the coming years Among Europe s other renewables powerhouses a wave of policy revisions to reduce or remove support for onshore wind and solar projects in the UK threaten to paralyze the industry The country fell out of the RECAI top 10 for the first time in the publication s 12 year history Latin America s hottest markets have meanwhile cemented their position in the RECAI top 10 Government proactivity in addressing key challenges such as low tariffs and an increasing focus on its untapped solar market moved Brazil into eighth place Chile also moved up the RECAI into ninth position following the success of renewables in the country s technology neutral energy auctions and a continuing flow of large scale project approvals Warren says Policy changes still have an immense impact on renewable energy deployment and the RECAI movements reveal some policymakers are listening to market signals more than others In today s world where the majority of the population is facing some form of energy crisis public support for low carbon energy solutions and the increasingly compelling economics flexibility and scalability of renewables cannot be ignored Policymakers must recognize the strategic imperative of a diverse energy mix to help address economic and societal goals as well as environmental ones To download the report visit www ey com RECAI ends Notes to Editors About EY EY is a global leader in assurance tax

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-policy-changes-shake-up-renewable-energy-country-attractiveness (2016-02-10)
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  • News - EY named a leader in IDC MarketScape report for worldwide risk advisory consulting services 2015 - EY - Global
    and Other Sales Taxes Transfer Pricing and Operating Model Effectiveness Strategic Growth Markets How we help Entrepreneurship EY SGM Initial public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Newsroom EY named a leader in IDC MarketScape report for Worldwide Risk Advisory Consulting Services 2015 EY named a leader in IDC MarketScape report for Worldwide Risk Advisory Consulting Services 2015 London 15 September 2015 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share EY has been recognized as a Leader in IDC MarketScape s recently published Worldwide Risk Advisory Consulting Services 2015 Vendor Assessment According to IDC MarketScape report EY s position as a Leader is based on providing high quality service helping clients comply with regulations and improve operational efficiency and integrating appropriate technologies to support a client engagement Paul Van Kessel EY s Global Risk Advisory Leader says Today the risk landscape is constantly changing at a pace and pattern that s difficult to predict With our industry specific risk management solutions we offer our clients deep business risk knowledge across four key areas risk assurance internal audit cybersecurity and risk transformation through our 17 000 risk professionals globally helping our clients to protect their business and increase performance We are honored to be recognized as a Leader in IDC MarketScape report for Worldwide Risk Advisory Consulting and are proud of our approach that brings leading class risk management framework to our clients Cushing Anderson Vice President Business Consulting Services IDC says For risk advisory consulting EY is perceived to be among the leading organizations for integrating appropriate technologies to support client engagement and providing the necessary spectrum of business and IT consulting services In addition EY is also considered to be leading many of its peers at challenging corporate culture helping clients comply with regulations and improve operational efficiency and understanding the unique needs of its clients business IDC MatketScape study assessed the capability and business strategy of many of the leading firms providing risk advisory consulting ends About EY EY is a global leader in assurance tax transaction and advisory services The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over We develop outstanding leaders who team to deliver on our promises to all of our stakeholders In so doing we play a critical role in building a better working world for our people for our clients and for our communities EY refers to

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-named-a-leader-in-idc-marketscape-report-for-Worldwide-risk-advisory-consulting-services-2015 (2016-02-10)
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  • News - EY - Europe's leading utilities write 22.9 billion euros off balance sheets in 2014 - EY - Global
    Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Newsroom Europe s leading utilities write 22 9b off balance sheets in 2014 Europe s leading utilities write 22 9b off balance sheets in 2014 London 10 September 2015 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share Impairments in 2014 focus mainly on assets Generation assets account for 75 of total at 14 6b Pricing and regulation top drivers of impairments in sector European utilities experienced yet another year of significant asset impairments 22 9b in 2014 as depressed energy prices and regulatory changes took their toll on the region according to EY s Benchmarking European power and utility asset impairments Testing times ahead study The analysis of 16 leading European utilities shows impairment on assets accounted for 19 4b or 85 of total impairment recorded in 2014 Generation assets represented the greatest share of impairments 75 with 14 6b Exploration and production E P assets were also hit following commodity price uncertainty with a total of 2 2b impaired in 2014 Charles Emmanuel Chosson EY s Global Assurance Power Utilities Leader says Europe s power and utilities companies continue to grapple with a changing energy landscape In 2014 depressed energy prices and evolving regulation added to the complexity companies already face and resulted in yet another year of significant impairments Weak commodity prices led to the impairment of generation and E P assets while regulations focusing on security of supply or reducing carbon emissions also drove impairments in many regions Rapid transformation in the sector is creating big challenges for traditional European utilities The continuing rise of renewables and improved energy efficiency keep adding pressure on conventional generation assets Disruptive factors such as the rise in distributed generation and new developments in demand response and storage capacities could also have a resounding impact on asset impairment Chosson says Adapting to the changing energy world requires companies to think thoughtfully about capital investment That means assessing tomorrow s value chain identifying how they want to be positioned and planning how that translates into investments and asset rotation ends Notes to Editors About EY EY is a global leader in assurance tax transaction and advisory services The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over We develop outstanding leaders who team to deliver on our promises to all of our stakeholders In so doing we play a critical role in building a better working world for our people for our clients and for our communities EY refers to the global organization and may refer to one or more of the member firms of Ernst Young Global Limited each of which is a

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-europes-leading-utilities-write-22-9-billion-euros-off-balance-sheets-in-2014 (2016-02-10)
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  • News - EY - pension stakeholders see need to collaborate and improve long-term distribution strategy - EY - Global
    vision for the global pension and retirement market The report based on insights from governments policymakers pension industry executives and corporate employers underscores that these key stakeholders will need to collaborate more closely if they are to succeed and improve consumers financial well being as the retirement and pension landscape shifts in focus from defined benefits to defined contributions The report notes that addressing this transformation collaboratively will require policy and industry change in many countries to help consumers make informed decisions Distribution according to the report includes the framework policies incentives and all actions related to designing offering and spreading pension and retirement products and services through the retail customer base Josef Pilger EY Global Pension Retirement Leader says Reforms give consumers choices without adequately considering the experiences and perceptions they have and the information and tools they need to make informed decisions People are not as disengaged as we often believe We need to change our attitude policy and delivery and work together to focus on the customer instead of the products and help them make the best possible decisions to build their financial well being One third of respondents lack long term strategy Vision strategy and role clarity are the foundation of public confidence in pension administration the report finds However one third of survey respondents lack a clearly defined long term pension and retirement vision and strategy In particular governments policymakers and regulators recognize the significant need to improve their long term pension and retirement strategy as governments may be an underwriter of last resort for pension and retirement gaps According to those interviewed for the report only two thirds of governments policymakers and regulators have a clearly defined long term strategy The private sector also will play an important role in setting vision and strategy as providers have experience and infrastructure to help address distribution challenges according to the report Empowering consumers to make informed decisions will help distribution The shift from defined benefits to defined contributions means consumers and employers face more decision points about participation and investments the report shows though consumers may then lack the appropriate information to make informed financial decisions Not surprisingly corporate employers appear to be ahead of other stakeholders in providing adequate advice and information to plan participants Seventy five percent of corporate employers in the survey said they had a professional system in place though they could make improvements Just one quarter rated their capabilities as leading The report finds that empowering consumer engagement and informing their decision making through additional communications support and planning must become a key tenet for all pension and retirement systems and solutions Digital can support informed choices but is still in its infancy The pension and retirement industry is still determining how to maximize the long term opportunities digital applications offer the survey shows Half of corporate employers give themselves low digital maturity scores while 54 of governments policymakers and regulators acknowledge the need for adopting digital communication and technology Digital

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-pension-stakeholders-see-need-to-collaborate-and-improve-long-term-distribution-strategy (2016-02-10)
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