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Industries - Utilities - Ernst & Young - Czech Republic

Foresight and organisational flexibility for the utilities industry

Helping clients involved in power generation, electricity and gas transmission, distribution and sales, water, waste, and infrastructure investment prepare for the road ahead.

For the Utilities industry, this is a time of opportunity and uncertainty. While growth in demand among most industrialised countries is expected to be small in the long term, world demand is increasing at an unprecedented rate, and geopolitical events are giving rise to new challenges. Business leaders are under intense pressure to make decisions that are right for a variety of stakeholders, while also addressing national energy policies and the environment.

These decisions require a high degree of foresight and organisational flexibility to anticipate trends, adapt business models, minimise risks, and maximise opportunities. The Ernst & Young Global Utilities Centre, a hub for sharing knowledge and perspectives, connects our worldwide network of professionals so they can help clients to manage uncertainties by building organisational agility and formulating an approach to quickly react to rapidly changing markets.

Our services for the utilities sector include:

  • auditing statutory financial statements
  • preparation and audit of IAS/IFRS financial statements, IFRS advisory services
  • transaction support through advisory work, due diligence reviews and disposals
  • auditing business plans for regulatory licensing purposes
  • audits and system audits of industry line financial statements and reports
  • financial modeling
  • auditing financial models
  • internal audit function development, review and audit
  • process and controls improvement, Sarbanes-Oxley implementation
  • unbundling related advisory services
  • utility specific tax advisory services
  • company-specific monitoring of EU subsidies, EU project tendering
Lessons from change: power and utilities

How do you manage through the recession and position your company for growth? Our power and utilities professionals and other sector leaders conducted over 1500 client meetings and identified some overarching themes. Proactive capital allocation, steps to accelerate decision-making and an increased focus on risk management could mean the difference between surviving and thriving.

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