{"id":1000897464,"date":"2024-10-17T15:26:18","date_gmt":"2024-10-17T19:26:18","guid":{"rendered":"https:\/\/www.goingconcern.com\/?p=1000897464"},"modified":"2024-10-17T15:26:25","modified_gmt":"2024-10-17T19:26:25","slug":"ey-and-the-terrible-horrible-no-good-very-bad-year","status":"publish","type":"post","link":"https:\/\/www.goingconcern.com\/ey-and-the-terrible-horrible-no-good-very-bad-year\/","title":{"rendered":"EY and the Terrible, Horrible, No Good, Very Bad Year"},"content":{"rendered":"\n

When we started putting this article together earlier today there was no press release nor could one find the info if they search “annual report” or “value realized” on EY’s website but according to Financial Times<\/em><\/a> reporting this morning, EY has finally released global revenue (unaudited) for fiscal 2024: $51.2 billion, an increase of just 3.9 percent from last year’s $49.4 billion<\/a>. This information is about a month late, they usually report in September with a big fancy announcement and pretty graphics. Really making us work for it today eh?<\/p>\n\n\n\n

\"screenshot
2023’s report used a lot of rock climbing and other outdoor activities people who work at EY can’t enjoy for some reason.<\/figcaption><\/figure>\n\n\n\n

A press release<\/a> finally showed up this afternoon.<\/p>\n\n\n\n

The real story is that EY’s headcount shrunk for the first time since 2010. They were sitting at 393,000 people as of June 30, 2024, down almost 2,500 (2,450, said FT) from June of 2023.<\/p>\n\n\n\n

The year sucked so bad they resorted to bragging about how many badges their people earned in fiscal 2024. And the 192 million lives they’ve impacted [citation desperately needed, EY*].<\/p>\n\n\n

\n
\"\"<\/figure><\/div>\n\n\n

In her first Value Realized letter as CEO, Janet Truncale acknowledged the terrible year they’ve but said she sees “a powerhouse organization in great shape.” She also said “we will continue to invest in EY people” despite how many people at EY US got ripped off on raises, bonuses, and promotions this compensation season<\/a>. “We have a refreshed people proposition that focuses on the things EY people told us they care about the most: developing skills; being empowered to prioritize their wellbeing; and building an
inclusive and positive culture.” EY people told you that did they?<\/p>\n\n\n\n

What even are these snapshots in the annual report? How many countries watched videos?<\/p>\n\n\n

\n
\"\"<\/figure><\/div>\n\n\n

This is what we’re here for: revenue and growth by service line.<\/p>\n\n\n

\n
\"\"<\/figure><\/div>\n\n\n

LOL at the small text under Preferred Auditor.<\/p>\n\n\n\n

Total revenue of EY global in US currency: $51.2 billion, growth of 3.9% in local currency.<\/p>\n\n\n\n