Ernst & Young is one of the largest firms in the world offering an array of financial services including tax, transaction and advisory services. The company was first established in 1989, but its roots date all the way back to the middle of the 19th century.This global company survived, and even thrived, after the Enron scandal of 2001, which allowed the large firm to acquire a number of companies worldwide that dissolved as a result of the Enron events. Today, Ernst & Young continues to enjoy success as one of the top rated companies by CNN and boasting more than 152,000 employees across the globe.
History of Ernst and Young
Although Ernst & Young was not officially established until 1989, the two partners got their start in the financial industry long before that time. Arthur Young began his accounting career in 1890, forming his first accounting firm with his brother Stanley, Arthur Young & Company, in 1906. Alwin C. Ernst began his first firm, also with his brother Theodore, in 1903.Since that time, the two original partners enjoyed a long and illustrious history in the finance industry that culminated into what is now Ernst & Young.
Ernst & Young. The company, recognizing the unique and long-standing nature of its establishment, offers a comprehensive history of the company and its founders, including a timeline of events.
Encyclopedia of Cleveland History. Although the primary headquarters for Ernst & Young in the U.S. is New York, the firm still has a large presence in Cleveland, its original U.S. office location and the location of one of its four U.S. offices today.
New York Times Since its inception in 1989, the company of Ernst & Young has enjoyed a colorful history as the U.S. and the world has experienced financial ups and downs. The company was sued by New York state attorney general Andrew Cuomo, due to the company’s alleged involvement with the Lehman Brothers, after escaping virtually unscathed from the Enron scandal in 2001.
Helping Aspiring Financiers Succeed
Ernst & Young offers a diverse range of financial services, including tax, advisory and transaction advisory assurance. In addition, the company supports the training of students majoring in accounting and finance through internships and its own degree program through one college in the U.K. This company is committed to the ongoing health of the financial industry, which is indicated through its participation in college training programs and its robust internship program.
Ernst & Young - The company offers guidance to college students right on their website, to help those students launch a career with Ernst & Young. From information technology to economics, the company will let college students know what to study in order to prepare for a career with the firm.
Lancaster University Management School – Ernst & Young has partnered with this institution to provide a four-year sandwich degree in Accounting and Finance. Students that graduate from the program receive a minimum of 18 months paid salary with Ernst & Young, as well as the opportunity to get on the fast track to qualifications as a Chartered Accountant in the U.K.
Bloomberg Business Week - Opportunities for interns at Ernst & Young, both during and after college, make this company a top choice for college students worldwide. In 2007, this publication listed Ernst & Young as one of the top companies in the U.S. to launch a career.
Global Business Impact
Ernst & Young may have roots in the U.S., but this company has become a global force in the world of finance. With locations worldwide, Ernst & Young has gained its long-standing reputation through its commitment to international contributions, connecting countries across the globe and publishing financial information that applies to the entire world. This company offers training programs and opportunities internationally that have helped it develop an international name in the finance world.
Ernst & Young - The company lists its commitment to global outreach as a part of its corporate identity. According to the company website, this business believes globalization is a defining issue of the current age, which is why it has developed a Global Code of Contact and currenly boasts offices on nearly every continent.
CNN Money – When CNN Money listed Ernst & Young as one of its top companies in 2012, the publication cited international community outreach as one of its reasons. In 2011, EY Connect Day, a day the company devotes to volunteerism, 38,000 volunteer hours were logged in more than 60 locations in the Americas.
Performance - This global think tank at Ernst & Young publishes information and surveys about the financial industry worldwide. The publication is free to anyone who is interested in receiving it, and subscriptions can be requested at the company’s website.