News releases
December 2011
- Pre-audits go critical for some 100 greenhouse gas emitters in Québec: Ernst & Young
Montreal, 15 December 2011
Québec is stepping into the carbon market era with the adoption of a new greenhouse gas emissions cap-and-trade system that gives rise to new legal and financial risks for emitters – but also opens up new opportunities, according to Ernst & Young. Just as in traditional financial markets, audits are key to guaranteeing system integrity and certifying emission data credibility for emitters, buyers and sellers. - Twelve days of tax tips: Ernst & Young’s year-end guide to savings
Toronto, 15 December 2011
The holidays are all about spreading joy. While December is a hectic month for many, Ernst & Young suggests taking a little time out of busy scheduled to review these year-end tax tips. Remember: addressing these now could put a little extra jingle back into Canadian pockets in the months ahead. - Labour availability top issue for 47% of Canada’s leading oil and gas companies: Ernst & Young
Calgary, 15 December 2011
Labour availability, market access and cost control issues are weighing heavily on the minds of Canada’s oil and gas executives, while HR professionals struggle to find the skilled workers that will become tomorrow’s leaders, says Ernst & Young. - Small budgets, big IT risks could wreak havoc at 63% of Canadian companies: Ernst & Young
Montreal, 8 December 2011
While pressured to adopt new mobile technologies and implement access to social media, 83% of Canadian companies are concerned with heightened tech risks, says a new report from Ernst & Young. - Fifty-two percent of oil and gas companies focused on growth in 2012: Ernst & Young
Calgary, 6 December 2011
Growth agendas trump survival strategies for more than half of global oil and gas companies in 2012, according to Ernst & Young’s fifth Global Capital Confidence Barometer - Oil & Gas. - Executives set sights on emerging markets, but Canadians remain cautious: Ernst & Young
Toronto, 5 December 2011
Nearly 40% of companies worldwide plan to shift some foreign investment from developed to emerging markets within five years, according to the latest Economist Intelligence Unit paper, Canada in a Globalized Economy: an investment perspective, sponsored by Ernst & Young. - Ernst & Young closes deal with RSM Richter LLP to grow entrepreneurial reach in Canada
Toronto, 2 December 2011
Ernst & Young and RSM Richter LLP’s Toronto audit, tax and transaction advisory practices, and Calgary restructuring practice, have joined forces in a transaction that closed today. - Ernst & Young’s Anne-Marie Hubert and Fiona Macfarlane named among Canada’s most powerful women
Toronto, 1 December 2011
Claiming two spots on this year’s list of Canada’s Most Powerful Women: Top 100™, Ernst & Young is celebrating the recognition of both Anne-Marie Hubert, Managing Partner, Advisory Services, and Fiona Macfarlane, Western Canada Managing Partner and Chief Inclusiveness Officer, among the 2011 winners of this prestigious award.
November 2011
- Sponsors demonstrate courage, tenacity to help women advance in business: Ernst & Young
Toronto, 28 November 2011
It’s broadly acknowledged that sponsorship is critically important in getting more women into senior roles; but what makes a good sponsor and why should the corporate sponsor be hailed a hero? Ernst & Young interviewed some of Canada’s most successful women to learn about the sponsors who made a difference in their careers. - Dani Reiss of Canada Goose Inc. named Canada’s Ernst & Young Entrepreneur Of The Year® 2011
Toronto, 24 November 2011
Dani Reiss, President and Chief Executive Officer of Canada Goose Inc. — an iconic, high-quality, “made in Canada” outerwear manufacturer — is this year’s National Ernst & Young Entrepreneur Of The Year winner. - Ernst & Young book drive targets 200 more books for YMCA of Greater Moncton’s Youth Tutor Program
Moncton, 24 November 2011
While the citizens of Moncton get into the holiday spirit with Santa Claus’s official arrival next Saturday, Ernst & Young volunteers are getting ready to spread joy and a thirst for learning to young people in the area with a book drive in support of the YMCA of Greater Moncton’s Youth Tutor Program. - Eighty-eight percent of Canadians believe country’s culture encourages entrepreneurship: Ernst & Young
Toronto, 23 November 2011
Canadian entrepreneurs’ new business registrations outperform all mature market G20 countries, according to Ernst & Young’s latest report, Entrepreneurs speak out: a call to action for G20 governments. - Canadian C-suite must prepare as tax controversy heats to boiling for 56% of companies: Ernst & Young
Toronto, 16 November 2011
With converging trends creating the riskiest tax controversy environment in years, 56% of Canadian companies have already seen a rise in the volume or aggressiveness of tax audits, Ernst & Young finds in a new survey. And C-suite executives must understand the full implications to navigate this uncharted territory effectively. - Mining and metals industry records 67% uptick in deal value in 2011: Ernst & Young
Vancouver, 9 November 2011
A 67% increase in deal value totalling US$132 billion reveals cashed-up mining and metals companies are taking advantage of recent declines in valuations to pursue mergers and acquisitions (M&A) this year, says Ernst & Young. - Ernst & Young expands entrepreneurial and private-company reach in Toronto and Calgary
Toronto, 8 November 2011
Ernst & Young has signed a letter of intent with RSM Richter LLP that will see their Toronto audit, tax and transaction advisory practices, and Calgary restructuring practice, merge with our firm. The transaction will grow Ernst & Young’s Toronto and Calgary offices, and enhance the firm’s existing Entrepreneurial Services practice. - Ernst & Young names Dani Reiss of Canada Goose Inc. the 2011 Ontario Entrepreneur Of The Year
Toronto, 3 November 2011
Dani Reiss, President and Chief Executive Officer of Canada Goose Inc. — an iconic, high-quality, “made in Canada” outerwear manufacturer — is this year’s Ontario Ernst & Young Entrepreneur Of The Year® winner. - For budget-minded holiday shoppers, it’s all about price: Ernst & Young
Montreal, 1 November 2011
As market volatility and economic uncertainty continue to make headlines, retailers are facing major obstacles going into the critical holiday shopping season, Ernst & Young says.
October 2011
- Ernst & Young names Mac Van Wielingen of ARC Financial Corp. the 2011 Prairies Entrepreneur Of The Year
Calgary, 19 October 2011
Mac Van Wielingen, Founder and Chief Executive Officer of ARC Financial Corp. —
a leading private equity investment management company focused on Canada’s energy sector — is this year’s Prairies Ernst & Young Entrepreneur Of The Year® winner. - Ernst & Young names Marcel Lebrun, Chris Newton and Chris Ramsey of Radian6 the 2011 Atlantic Entrepreneur Of The Year
Halifax, 14 October 2011
Marcel Lebrun, Chief Executive Officer, Chris Newton, Chief Technology Officer, and Chris Ramsey, Executive Vice-President, of Radian6 — a leading provider of comprehensive social media monitoring — are this year’s Atlantic Ernst & Young Entrepreneur Of The Year® award winners. - Piracy a top risk for M&E industry as consumers exchange DVDs for downloads: Ernst & Young
Toronto, 12 October 2011
Lightning-fast technological advances are sending shockwaves through the media and entertainment industry and threatening its very survival, industry insiders said during a recent Ernst & Young/Heenan Blakie town hall event at the Toronto International Film Festival. - Ernst & Young names Sean Roosen of Osisko Mining Corporation the 2011 Québec Entrepreneur Of The Year
Montreal, 7 October 2011
Sean Roosen, President and Chief Executive Officer of Osisko Mining Corporation — a development-stage gold mining company currently completing the construction of the Canadian Malartic gold mine in the Abitibi mining district — is this year’s Québec Ernst & Young Entrepreneur Of The Year® award winner. - Ernst & Young names Robert Little of Regency Fireplace Products the 2011 Pacific Entrepreneur Of The Year
Vancouver, 6 October 2011
Robert Little, Founder and Chief Executive Officer of Regency Fireplace Products — a leader in hearth product design, manufacture, and marketing — is this year’s Pacific Ernst & Young Entrepreneur Of The Year® winner. - Surprising appetite for deals despite market turbulence: Ernst & Young
Toronto, 3 October 2011
Despite economic turbulence and market turmoil, 41% of leading international companies expect to make an acquisition in the next 12 months, according to
Ernst & Young’s latest Global Capital Confidence Barometer, based on a survey of more than 1,000 senior executives around the world.
September 2011
- HST tax changeover has ripple effects for businesses nationwide: Ernst & Young
Toronto, 29 September 2011
Companies across Canada will feel the impact of reintroducing PST in British Columbia – and must prepare accordingly, Ernst & Young says. - Quebec miners must tackle infrastructure and more to thrive: Ernst & Young
Montreal, 13 September 2011
Resource nationalism, skills shortage and infrastructure access represent the top challenges for mining companies around the world — and Quebec is no exception, Ernst & Young says. - Resource nationalism tops miners’ risk list for 2011: Ernst & Young
Vancouver, 13 September 2011
Resource nationalism tops the mining and metals risks list while supply capacity issues like skills shortage, capital allocation and infrastructure access continue to dominate the business agenda, according to Ernst & Young’s annual report Business risks facing mining and metals 2011–2012. - Ernst & Young Entrepreneur Of The Year® celebrates Moosehead Breweries’ Derek Oland
Halifax, 7 September 2011
Derek Oland has received the Ernst & Young Entrepreneur Of The Year® 2011 Atlantic Lifetime Achievement Award in recognition of his substantial achievements at the helm of his sixth-generation family business and in the wider community.
August 2011
- Canada most acquisitive country with 196 mining deals in first half of 2011: Ernst & Young
Vancouver, 31 August 2011
Canada topped the global mining and metals sector as the leading acquirer with 196 deals and as the leading target destination with 129 deals from January to June 2011, says Ernst & Young. - Rising costs and labour shortages among biggest risks for oilsands sector: Ernst & Young
Calgary, 29 August 2011
Climbing labour, service and commodity costs are driving early signs of cost inflation in the oilsands sector while environmental issues dominate the risks list, according to Ernst & Young’s recent report, Exploring the top 10 opportunities and risks in Canada’s oilsands. - Canadian banks not immune to global challenges: Ernst & Young
Toronto, 25 August 2011
Canadian banks are expected to continue doing well relative to their global peers but aren’t necessarily shielded from the challenges plaguing the world’s financial institutions, including concerns about growth, capital, data and regulatory issues, says Ernst & Young - Canada in top 10 for tech M&A in Q2 after surge in cross-border deals: Ernst & Young
Toronto, 15 August 2011
Canada ended the second quarter of 2011 on a high note as one of the top 10 countries for corporate technology mergers and acquisitions, with numbers increasing from 21 deals in Q2 2010 to 30 in Q2 2011, according to Ernst & Young’s Global technology M&A update. - Back-to-school spending is expected to flatline in still-fragile Canadian market: Ernst & Young
Montreal, 11 August 2011
Back-to-school spending is expected to be flat this year compared to last and will compound an already tough situation for Canadian retailers still reeling from a poor spring buying season brought on by bad weather, says Ernst & Young. - Ernst & Young builds on SR&ED practice by acquiring OME Group Consultants
Toronto, 3 August 2011
Ernst & Young has acquired OME Group Consultants to expand its already significant Scientific Research and Experimental Development (SR&ED) tax practice. The federal SR&ED tax program is an effective way to help narrow Canada’s innovation and productivity gap while creating and protecting jobs, Ernst & Young says. - Next 36 partnership arms top students with business know-how: Ernst & Young
Toronto, 2 August 2011
Who will be Canada’s next corporate giants? Ernst & Young is working with some of today’s brightest young entrepreneurs to help them transform business dreams into exceptional realities. These top students comprise The Next 36, a new program sponsored nationally by Ernst & Young.
July 2011
- Ernst & Young honours Pacific finalists for Entrepreneur Of The Year 2011
Vancouver, 7 July 2011
Entrepreneurs are poised to drive the next major wave of economic growth, but the wider community must do more to support these creative-minded innovators, Ernst & Young said today when revealing this year’s finalists for Ernst & Young Entrepreneur Of The Year®. - Ernst & Young honours Prairies finalists for Entrepreneur Of The Year 2011
Calgary, 7 July 2011
Entrepreneurs are poised to drive the next major wave of economic growth, but the wider community must do more to support these creative-minded innovators, Ernst & Young said today when revealing this year’s finalists for Ernst & Young Entrepreneur Of The Year®. - Ernst & Young honours Ontario finalists for Entrepreneur Of The Year 2011
Toronto, 7 July 2011
Entrepreneurs are poised to drive the next major wave of economic growth, but the wider community must do more to support these creative-minded innovators, Ernst & Young said today when revealing this year’s finalists for Ernst & Young Entrepreneur Of The Year®. - Ernst & Young honours Quebec finalists for Entrepreneur Of The Year 2011
Montreal, 7 July 2011
Entrepreneurs are poised to drive the next major wave of economic growth, but the wider community must do more to support these creative-minded innovators, Ernst & Young said today when revealing this year’s finalists for Ernst & Young Entrepreneur Of The Year®. - Ernst & Young honours Atlantic finalists for Entrepreneur Of The Year 2011
Halifax, 7 July 2011
Entrepreneurs are poised to drive the next major wave of economic growth, but the wider community must do more to support these creative-minded innovators, Ernst & Young said today when revealing this year’s finalists for Ernst & Young Entrepreneur Of The Year®.
June 2011
- Canada ripe with opportunities in mining, renewable energy: Ernst & Young
Toronto, 27 June 2011
With Canada sitting in ninth position on Ernst & Young’s latest Renewable energy country attractiveness indices, many wonder what it will take to propel the industry here forward. - Eighty-three percent of oil and gas companies seek growth-oriented investment in 2011: Ernst & Young
Calgary, 22 June 2011
Seventy-five percent of oil and gas companies are more optimistic about their companies’ prospects in 2011, but rising inflationary pressures could hamper plans for growth, according to Ernst & Young’s Capital Confidence Barometer. - Canada addressing issues of aging infrastructure with $16 billion in recent stimulus funding
Montreal, 20 June 2011
Canada is joining the ranks of countries around the world that are pumping funding into infrastructure to support future growth in a competitive global market, and create jobs in the short term, Ernst & Young says in a new report coproduced by Urban Land Institute. Using $16 billion in recent stimulus funding, Canada is making headway in addressing issues of aging urban infrastructure. - It gets better for LGBTA on Bay Street: Ernst & Young
Toronto, 16 June 2011
As the internet wave of It gets better videos supporting young LGBTA continues, it’s important for Canadians of all generations to know that “it gets better” right here on Bay Street, too, Ernst & Young says. - Top companies grow products and services by 20% despite recession: Ernst & Young
Toronto, 15 June 2011
If top-performing Canadian companies are anything like their global counterparts, they’re significantly growing their businesses by offering new products and services to existing customers, Ernst & Young says. - Canadian biotech losing ground — and capital — fast: Ernst & Young report
Toronto, 14 June 2011
With Canadian biotech companies capturing just two percent of all global capital raised in 2010, it’s clear the industry is losing ground on the global stage, Ernst & Young says. This finding marks a five percent drop since 2006. - Ernst & Young revisits the federal budget
Toronto, 2 June 2011
With Finance Minister Jim Flaherty saying he still worries the world could slip back into recession, all eyes will focus on the Conservative majority’s first federal budget next Monday, June 6.
May 2011
- Interactive media fuelling renewed drive toward convergence: Ernst & Young
Vancouver, 24 May 2011
Interactive media is the fastest-growing segment of the media and entertainment industry, according to a recent report from Ernst & Young, Spotlight on profitable growth. Its rise to the top of the heap is fuelled by a renewed push to provide consumers with access to information and entertainment content through a variety of Internet-based formats. - Oil price volatility challenges Canadian and global markets: Ernst & Young
Toronto, 13 May 2011
Short-term oil and gas supply and demand remains relatively balanced, but oil prices are up due to a number of geopolitical factors, sending ripple effects through both the Canadian and the global markets, Ernst & Young says. - Rare earth supply crunch a wakeup call for mining companies everywhere: Ernst & Young
Montreal, 11 May 2011
Soaring demand for rare earth metals – used in the production of everything from smart phones to computer hardware to energy-efficient lights – is generating new but risky opportunities for mining companies in Canada and around the world, Ernst & Young says.
April 2011
- Optimism up among Canadian businesses, but M&A barriers hold firm: Ernst & Young
Toronto, 28 April 2011
Some 78% of Canadian businesses are feeling more upbeat about their companies’ prospects than they were six months ago, says a new Ernst & Young report, Capital Confidence Barometer. In contrast, 70% of their global counterparts feel the same way about their own businesses. But it’s not all smooth sailing the report finds. - Twelve timely tips for tackling your taxes: Ernst & Young
Toronto, 26 April 2011
With the hours ticking down to this year’s tax deadline, Ernst & Young suggests asking yourself the following key questions. Some will save you time, some will save your nerves and — best of all — some may even save you money. - Pharma industry on the cusp of biggest transformation yet: Ernst & Young
Montreal, 21 April 2011
Digital data and electronic health records, new mobile technologies and social media platforms for sharing information are driving a new, outcome-centric health care industry like nothing seen before, says Ernst & Young. - OECD report could lead to tighter anti-corruption laws: Ernst & Young
Toronto, 14 April 2011
Canadian businesses should be prepared to face increasingly vigorous fraud investigations after the latest Organisation for Economic Co-operation and Development (OECD) report urges Canada to boost its anti-corruption enforcement efforts, says Ernst & Young. - Mentorship, sponsorship keys to building a strong and committed workforce: Ernst & Young
Toronto, 12 April 2011
Creating robust mentorship programs is one of the most effective ways for businesses to invest in their people and retain talent, says Ernst & Young, one of Canada’s “Best Workplaces” for 2011. - Small companies must get creative to find credit
Toronto, 11 April 2011
Getting credit is still no easy feat for small companies post-downturn despite improved lending conditions that mostly benefit their larger counterparts, according to Credit availability in Canada, a just-released executive research report by the Canadian Financial Executives Research Foundation (CFERF), and sponsored by Ernst & Young. - Weak suppliers and clients can spell trouble for businesses: Ernst & Young
Montreal, 6 April 2011
Businesses that are back on track after the recession still face potential risks when dealing with clients and suppliers that didn’t fare as well post-crisis, cautions Ernst & Young. - Canada hangs on to top 10 for renewable energy investment: Ernst & Young
Toronto, 5 April 2011
Canada maintains ninth position out of 29 countries measured for their renewable energy infrastructure investment attractiveness in Ernst & Young’s latest Renewable energy country attractiveness indices.
March 2011
- Canada’s unconventional gas industry must look beyond the US for growth: Ernst & Young
Calgary, 30 March 2011
Pricing uncertainty, anticipated lower demand from the U.S. and changing regulatory and fiscal policies are just some of the challenges facing companies looking to invest in and develop Canada’s unconventional gas reserves (unconventionals), according to Ernst & Young. - Ernst & Young breaks down today’s federal budget
Toronto, 22 March 2011
What will today’s federal budget mean for Canadians and their businesses? Ernst & Young’s tax professionals are available today following the budget to help answer related questions, and explain what the changes mean from a tax perspective. Our professionals can also break the budget down by industry. - Ernst & Young breaks down the federal budget
Toronto, 17 March 2011
Canadians are bracing for rumoured service cuts. The nation is deeply in the red, and the Harper government is aiming to balance its books. Will the budget measures introduced this year be able to bolster the fledgling economic recovery? - Gift card spending up 4% in 2010 with room to grow: Ernst & Young
Toronto, 17 March 2011
Consumers are fuelling the hot gift card market, with shoppers reporting a net increase of 4% on gift card spending in 2010, according to a recent Ernst & Young survey. In particular, retailers should be ready to embrace the potentially thriving website and virtual gift card markets. - Sustainability reporting drives better management decision-making: Ernst & Young
Toronto, 16 March 2011
Sustainability reporting is an important part of a company’s overall sustainability strategy and is now being used as a management tool to drive better decision-making, says Ernst & Young. - Immigration is key for business: Ernst & Young
Montreal, 11 March 2011
Québec businesses are in serious need of qualified workers. Competition for talent, both internationally and at home, is fierce. Québec needs to rise to the challenge to attract, integrate and retain immigrant talent and temporary employees to meet its long-term labour needs, according to Ernst & Young. - TSX top 100 miners increase in value by $142 billion in 2010: Ernst & Young
Vancouver, 2 March 2011
The Toronto Stock Exchange (TSX) top 100 miners emerged from a period of sharp recovery in 2009 to become a group of operationally efficient, growth-oriented companies. Mining sector listings on the TSX and TSX Venture hit record levels in 2010, with the total market capitalization of these miners increasing from $325 billion in 2009 to over $467 billion in 2010, according to Ernst & Young. - Canadians called to celebrate entrepreneurs who inspire, motivate and energize: Ernst & Young
Toronto, 1 March 2011
Canada’s entrepreneurs are emerging stronger than ever from the global recession and are positioning themselves to take hold of new growth opportunities. Their resilience is worth celebrating as Ernst & Young today launches the Entrepreneur Of The Year 2011 Awards in Canada.
February 2011
- Trust still there, but personalized attention a shortcoming at Canadian banks: Ernst & Young
Toronto, 28 February 2011
Although 75% of Canadians surveyed say their trust in banks has stayed the same or has increased in the past 12 months, almost 64% say they plan to switch banks or have already done so because of service quality issues, says an Ernst & Young report released today. - Canada becomes the destination of choice for mining transactions: Ernst & Young
Vancouver, 23 February 2011
Canada’s mining and metals sector is set to heat up in 2011 with increased deal activity, more diverse buyer competition and a continued appetite for projects in frontier markets, according to Ernst & Young. - More players getting in Canada’s oil and gas transactions game in 2011: Ernst & Young
Calgary, 22 February 2011
Increased optimism will drive robust transaction activity in the Canadian oil and gas sector in 2011, with a greater range of acquirers getting in the game, says Ernst & Young. - Nearly a third of global businesses have non-representative management teams: Ernst & Young
Toronto, 21 February 2011
Most companies believe diverse teams and experience improve both the financial performance and the reputation of their organizations. Yet many struggle to put their beliefs into action, says Ernst & Young, named one of Canada’s Best Diversity Employers for 2011 for the fourth consecutive year. - The CRA wants a piece of the $1.5 trillion transfer pricing pie: Ernst & Young
Toronto, 17 February 2011
Transfer pricing transactions between Canadian companies and their related parties outside of Canada are valued at more than $1.5 trillion annually. With transfer pricing rules essentially dictating how much of a company’s profit will remain in each country, it’s no wonder the Canada Revenue Agency (CRA) and other global tax authorities are focused on raising revenues through taxation, says Ernst & Young. - Technology deals soar to US$119 billion in 2010: Ernst & Young
Toronto, 15 February 2011
The push towards smart technology was one of the biggest factors that drove global M&A deal value to US$119 billion in 2010, according to a recent report by Ernst & Young. - Asia’s pursuit in Canada’s oilsands ups the competitive ante in 2011: Ernst & Young
Calgary, 3 February 2011
Heightened foreign investment in Canada’s unconventional oil and gas industry will be driven primarily by Asian markets, according to Ernst & Young. And as foreign companies shift from investors to operators, national oil companies and their local partners will need to decentralize business models, integrate and streamline processes quickly, and embrace a more international corporate culture. - Debt levels, management credibility top factors of IPO success: Ernst & Young
Toronto, 1 February 2011
Recession-battered investors now see low debt levels and high management quality as two of the top indicators of a promising initial public offering (IPO), according to a report from Ernst & Young.
January 2011
- Private equity funds hungry for deals in 2011: Ernst & Young
Toronto, 25 January 2011
With record-breaking cash in company coffers and the return of market confidence, more deal activity and private equity (PE) exits are on the horizon for 2011, according to Ernst & Young. M&A deals will be less about unloading underperforming assets and more about executing strategic deals in order for companies to achieve their long-term growth strategies. - Cost-cutting and pricing pressures fastest-growing risks in 2011: Ernst & Young
Toronto, 18 January 2011
Cost-cutting and pricing pressures will be major concerns for Canadian businesses in 2011, as they are the fastest climbers on Ernst & Young’s top 10 risks list, according to the firm’s fourth annual Global Business Risk Report. - Quebec manufacturing companies start 2011 with renewed confidence: Ernst & Young
Montreal, 12 January 2011
Gearing up to take advantage of market opportunities outside the province is this year’s priority for Quebec manufacturing companies, reveals a new survey conducted by Ernst & Young, in collaboration with Manufacturiers et exportateurs du Québec (MEQ). - Despite strong holiday sales, 2011 will be rife with challenges for retailers: Ernst & Young
Toronto, 5 January 2011
Canadian retailers will have no time to enjoy their sales gains from the 2010 holiday season because the new year will be rife with challenges for the sector, says Ernst & Young. Retailers will be contending with an influx of foreign competitors, a rising Canadian dollar and a potential decrease in consumer buying power.