On 3 April 2014 the European Parliament voted on final audit legislation, including mandatory audit firm rotation and restrictions on non-audit services for EU Public Interest Entities.
EU hands down a game changer
Data need not be big, but it must be used intelligently
Mining big data to mitigate corruption risk
Financial Reporting Outlook 2013 Report
Audit Committee Bulletin: January 2014
EY launches new book: ”Corporate Fraud: The Human Factor”
Board Matters Quarterly, January 2014
Financial Reporting Outlook Conference 2013
Audit Committee Bulletin: October 2013
Meeting today’s auditing, financial and reporting challenges
The global business landscape is being reshaped by transformational events and trends. And that means the financial and reporting environment is also being reshaped, resulting in significant challenges for management, boards, audit committees and auditors.
We can help you understand and address today's most critical financial and reporting issues.
- Accounting change
Sweeping changes to accounting standards are coming — are you ready?
You operate in an increasingly uncertain business environment, complicated by the unprecedented range of potential changes to accounting standards. In this environment, management and audit committees are asking what they should be doing today to ready themselves for such significant change.
The IASB and FASB have undertaken a number of ambitious standard-setting projects to improve both IFRS and US generally accepted accounting principles as well as to work to achieve convergence. These new standards, when issued, are expected to significantly alter accounting treatments and disclosures in several critical areas, including financial instruments, leases and revenue recognition. The number of standards being revised is significant, but of greater importance is how the accounting for common transactions will change as a result of these standards.
Fraud, bribery and corruption continue to expose companies to heightened financial, regulatory and reputational risk
The findings of our European fraud survey 2011 indicate that there remains a widespread tolerance of unethical behavior that goes to the very top of a business. They show that, across Europe, bribery and corruption are considered to be rife, while few individuals are willing to recognize that it could happen in their own industry sectors. Despite this, respondents to our survey indicate that there has been a decline across the board in the use of anti-fraud and anti-bribery measures precisely during a period when the incentives to act unethically have been the highest.
There exists a real need for companies and those charged with their governance and oversight, to revisit their focus on the risks of fraud, bribery and corruption. Given the current environment, more robust anti-fraud and anti-corruption efforts are an imperative.
- Corporate governance
Increasing transparency, improving control
Economic conditions generally improved during the past year, but uncertainties still remain. The world is demanding greater corporate transparency. Investors want access to more accurate and relevant information about companies, transactions, markets and risks. Regulators are moving to exert more control.
There’s much debate about how corporate governance should evolve. It’s a debate that’s being held against a background of legislative and regulatory change, the implementation of International Financial Reporting Standards and increased public scrutiny. We believe that global coordination is a necessity, not a luxury, in today’s interconnected and interdependent markets. Regulators and standard-setters need to continue to work together, to promote global consistency.
- Sustainability reporting
A growing trend toward disclosure of nonfinancial information
In the face of mounting pressure to be transparent, an increasing number of organizations are choosing to report on sustainability or corporate social responsibility (CSR). Sustainability reports help internal and external stakeholders understand how well the organization adheres to the "triple bottom line" of environmental, social and economic performance.
Seven things you should know about sustainability reporting
- 3,000+ companies issue sustainability reports.
- Stakeholders increasingly expect companies to provide sustainability reports.
- Sustainability reporting can bring operational improvements, strengthen compliance, and enhance corporate reputation.
- Reports should contain key performance indicators (KPIs) relevant to the reporter's industry such as materiality, stakeholder inclusiveness, sustainability context, and completeness.
- Sustainability reports are more closely monitored than ever before.
- Sustainability reporting presents many challenges, including:
- Data consistency
- Striking a balance between positive and negative information
- Continually improving performance
- Keeping reports readable and concise
- Sustainability reports can be a valuable communications tool. They can help with cutting costs, efficiency, achieving business imperatives and accountability.
- Capital Markets
Europe, Middle East, India and Africa
Capital Markets at Ernst & Young supports multidisciplinary teams and draws on the full breadth of Ernst & Young’s global reach, capabilities and experience to help our clients succeed.
Today, capital markets are more interconnected, complex and dynamic than ever before. Market opportunities occur almost anywhere in the world.
Whether a company is looking to launch its initial public offering (IPO) or undertake a transaction, cross‑border deals can be highly challenging and complex.
Ernst & Young supports clients in executing their capital raising strategies and transactions through detailed support on accounting, regulatory and reporting matters across all jurisdictions in the international capital markets.
Working collaboratively with clients, investment bankers, private equity, attorneys and others, we bring together service lines including assurance, tax, transactions and advisory to ensure you receive the highest-quality support.
With a team of more than 80 senior professionals located in the capital markets centers across Europe, Middle East, India and Africa (EMEIA), working together with the US and Asia, we offer extensive experience to clients, encompassing many aspects of the regulatory and capital raising process.
Explore our Capital Markets pages:
- How we can help
- Contact us
Download our brochure pdf, 4.8Mb, March 2010
Connect with us
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Advanced forensic data analytics tools can help companies manage the risks of fraud and corruption. Learn how in our Global Forensic Data Analytics Survey.
Cybercrime, groupthink in boardrooms and fraud are some of the risks facing businesses today. We explore how organizations can address challenges.
Our 2013 Europe, Middle East, India and Africa Fraud Survey reveals that companies may be resorting to unethical practices in response to challenging market conditions.
UK and Irish GAAP
The new financial reporting framework in the UK and Ireland is now a reality. Understanding the business and financial impacts of the change will help you resolve key issues ahead of adoption.