EY South Africa Splits its Practice

Ernst & Young South Africa has announced that it has officially separated its accounting and consulting units.

The consulting unit, which will be called 'Argil Ernst & Young Consulting,' was purchased by Worldwide African Investment Holdings, a major black empowerment group that already has an established relationship with EY, having formed a 60/40 joint venture last year.

The new unit's main business focuses will be on the oil industry, telecommunications and financial services.

Those curious about why Cap Gemini, the European firm that bought the Ernst & Young International's consulting firm, did not purchase the South African unit should know that Cap Gemini's South African subsidiary was recently sold and not a part of the parent group.

You may like these other stories...

Here's a CPA who truly walks the walk. On March 15, Frank Ryan, CPA, departed San Diego, California, with plans to be in Ocean City, Maryland, by July 2 to teach a course at the Maryland Association of CPAs’ (MACPA...
When Theodore J. Flynn first joined the Massachusetts Society of CPAs (MSCPA) in 1970, it was a different world and a different profession.  The "Big Eight" were still headquartered in Boston. Vietnam War...
Accountant Rickey Charles Goodrich had it a little too good. Many bean counters would kill to serve as financial guru to the likes of Pearl Jam. Goodrich was hired in 2005, and the following year, he became the CFO of Curtis...

Already a member? log in here.

Upcoming CPE Webinars

Aug 26
This webcast will include discussions of recently issued, commonly-applicable Accounting Standards Updates for non-public, non-governmental entities.
Aug 28
Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to restrict user inputs to selected choices, but there are many nuances to the feature that often trip users up.
Sep 9
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.
Sep 11
This webcast will include discussions of commonly-applicable Clarified Auditing Standards for audits of non-public, non-governmental entities.