EY offers market leading services combining functional expertise and industry focus using a global network
Advanced Manufacturing & Mobility
We help you strengthen your business model, so you are ready to grasp new growth opportunities as they arise. Awards and independent research confirm EY’s leading position within e.g. finance advisory, strategy, organization and process management, tax and transaction advisory.
What is on top of our client´s mind at the moment?
As your business is taking steps into the digital world, can Internal Audit stay behind?
Internal Auditors are expressing a growing need for smart ways to use and visualize analytics. These needs can be met by embracing new technology and we have therefore developed ‘Risk Scan’, a digital tool that enables continuous auditing and real-time reporting.
Are you also asked by your audit committee to provide more up to date, timely and relevant information? Would your stakeholder management become more effective if you could share insights based on combined internal and external data sources? Would you also like to move from the traditional focus on only tangible controls and financials, to also assessing more intangible factors such as risk culture and intellectual capital? To fulfill these requests from our clients we have developed ‘Risk Scan’ and in this video we share more information on this great tool.
Contact: Henrik Lind
Disruptive trade and trade barriers
In today’s global economy, moving goods internationally can be a complex and costly activity. More than ever before, effective management of global trade issues is crucial to maintaining a competitive advantage. Various trade barriers e.g. Brexit or the US-China Trade conflict, can make it more difficult for companies and countries to handle international trade in an efficient way, thus increasing costs and risks. We have a wide range of trade professionals to help our clients in this complexity.
Some situations where we can help and turn a complex situation to a competitive advantage:
- Negative effects of certain trade barriers can, if properly understood and if awareness exists within the company, be significantly lowered or in some cases fully avoided.
- A well-informed, prepared and agile trade function which includes e.g. tax, finance, logistics, legal, procurement and sales, in assessing trade barriers effects can mitigate many risks and instead turn these into opportunities and create comparative advantages towards any competition.
- Global Trade analytics can be used when assessing both risks and opportunities. Trade analytics also allows for calculations of ”Total Landed Costs”, which includes costs from production to sale of product. This will include cost of customs duties and taxes as well as costs of brokers, shippers and forwarders
- EY has analytics tools which can minimize the workload of the company compared to manual assessments saving valuable time and efforts for the company.
- EY has more than 900 Global trade professionals within our tax teams around the world which can support businesses with import and export challenges in all sectors
Predictive maintenance – how to increase value from your physical assets
Predictive maintenance is not a new invention. It has been effectively used in various industries for many decades. What is innovative, is the application of artificial neural networks to create real-time information from physical assets, for instance from Internet of Things (IoT) sensors. We have developed an approach that identifies failure points and reasons for failure. Based on likely failure patterns, we define additional sensors to be added to the equipment. We use EY´s condition-based, predictive analytics application linked to these new sensors to collect, transmit and process data, which helps us achieve typical client objectives.
Model of advanced analytics
Cybersecurity Assessment for our audit clients
To remain competitive, a business must constantly change and adapt to a changing business environment and to the evolving threats that come along with those changes.
As a result, the organizations’ cybersecurity requirements will need to change as well — changing the control infrastructure and technology capability/usage to support the improved situational awareness of known risks. If an organization doesn’t adapt, its cybersecurity foundation will quickly be obsolete. We offer Cybersecurity Assessment services also for our audit clients. Below you find what the Cyber Program Assessment and Technical Vulnerability Scan include.
Cyber Program Assessment
Technical Vulnerability Scan
Health check for business drivers
Covers all areas within Cybersecurity
Scan what the client has exposed to the Internet
Please watch what Tim Best has to say about cybersecurity assessment.
Navigating Brexit uncertainty - Is your business ready for Brexit?
On 19 March 2018 the UK and EU signed off on two key political documents relating to the UK’s future exit from the EU. These documents cover both the transition period as well as guidelines for the forthcoming negotiations over the future EU-UK relationship post-Brexit. This represents significant progress on the UK’s exit from the EU, and increases the likelihood of a negotiated exit.
Since June 2016, EY has been assisting clients across the globe to develop dynamic plans to respond to any Brexit outcome, detailing ‘no regrets’ moves, hedges and scenario-specific responses. In a large proportion of sectors, this has now transitioned into implementation projects, designed to deliver certainty on business continuity.
Through these projects, EY has developed an ultra-pragmatic approach that identifies minimum requirements to avoid Brexit disruption, focuses on material impacts and also converts the risks into opportunities. Our Brexit team is highly connected across the Brexit ecosystem, leveraging direct experience from EU negotiations and links into the highest levels of government to help clients shape the agenda and to separate genuinely significant developments from noise.
Please contact Ulrika Eklöf for more information.
How about US Tax Reform health check?
The Trump administration has launched the most significant US Tax Reform in over 30 years, applied as of January 2018. This will have great impact on all EMEIA companies with operations in the US as well as on those held by a US company, which means that there are great opportunities for us to support our clients both regarding tax and accounting. Contact us.
Risk Scan – a new way of preparing audit plan with specific audit scopes
Risk Scan challenges the traditional way of risk assessments. We can provide targeted dashboards in less than 48 hours. Our clients will get a full picture over business risks weighted according to relevance. We use multiple data sources; both internal and external ones. The data gathering is performed at the auditee site by either a robot or the Data Analytics team. Interested? Contact us.
How can organizations continue to grow while decreasing cost of compliance and controls?
Enabling compliance and process optimization through SAP GRC
The role of automation in reducing costs and enabling the more effective use of resources has been widely recognized as a key success factor to managing compliance while adding value to the business. However, many companies have not been able to implement this principle effectively. Developing a clear road map with “quick wins” and strategically leveraging GRC technology to enable its implementation continue to be a challenge and an opportunity.
GRC technology can be leveraged to enable, integrate and optimize their risk management functions and processes, while focusing on supporting strategic objectives and creating value. GRC technologies successfully transform risk performance levels by:
- Automating and standardizing processes and controls
- Embedding and maintaining one single version of risk and control data
- Managing holistic views of risk and compliance exposures
- Generating dynamic and real-time risk and control intelligence and reporting
- Analyzing risk-driven indicators and exception-based decision making
- Escalating via workflow through different levels of the organization
- Real-time reporting and monitoring of risks creating a foundation for strategic objectives.