Everything old is new again: The FT reports EY may spin off its audit arm

Supposedly EY is contemplating a global restructuring. We’ve seen this song and dance before.

Michael O’Dwyer at The FT reported yesterday that:

EY plans global audit spin-off in drastic Big Four shake-up

Sweeping overhaul would allow firm to escape conflicts of interest with consulting business that dog the industry

EY is working on a split of its audit and advisory operations worldwide in the biggest shake-up of a Big Four accounting firm in two …