Ernst & Young to 'withstand globalisation'...

Ernst & Young will be able to withstand globalisation, according to its new chairman, reports Accountancy Age. Read original article

The seven area structure of the firm will allow protection against market and ownership movements, Mark Otty stated. See Ernst & Young's 2006 Global Review

In a directly opposite tactic, Ernst & Young's Big 4 rival KPMG has decided to merge its German and UK branches.

Mr Otty said: "The view we are taking is that there is so much going on in emerging markets that you can't afford to take a two-step approach.

"We haven't created one profit pool and I don't believe we would be able to in the current regulatory climate."

While the UK capital markets are currently thriving, this may not continue to be the case indefinitely Mr Otty cautioned.

While the last few years has seen a shift in activity across the Atlantic from the US to the UK, this activity could just as easily go elsewhere, he said.

Every member company of Ernst & Young Global is now part of one of seven areas, Continental Western Europe, Far East, Oceania and Japan, Americas, Northern Europe, Middle East, India and Africa, Central and Eastern Europe.