Historical evolution of Ernst & Young accounting firm

1may 989 19, Ernst Whitney (EW, Ernst &; Pooh) merged with arthur young (ranked sixth) to form Ernst & Young (Ernst &; Young) became the largest accounting firm in the world at that time. In the wave of globalization, the emergence of new business types and the change of business model, Ernst & Young seized the opportunity of development. Interestingly, Ernst and arthur young, who had never met before 1948, died within a few days. They left Ernst & Young with a cultural heritage, that is, innovation, endeavor, professional sensitivity and professional care. The history of Ernst Whitney

Ernst Whitney (Ernst &; Whinney) accounting firm, formerly known as Ernst &; Ernst), because its founder is a pair of brothers named Ernst, the elder brother named Theodore Ernst and the younger brother named Alwin Ernst. Both brothers have long-term accounting experience, rich experience and skillful business. Teodoro works as an accountant in a railway company, while Alvin works in an accounting firm. 1903, Ernst brothers raised $500 to set up their own accounting firm, named Ernst & Young. It was not until 1979 that Ernst was renamed Ernst Young Whitney, or E &；; W, universal in all countries of the world.

1On September 30th, 979, it officially undertook the Chrysler bankruptcy evaluation case, which attracted much public attention. The U.S. Treasury Department approved its evaluation report, and the U.S. Congress also passed the plan of giving Chrysler 65,438.05 billion U.S. dollars in financial assistance in February. Chrysler finally avoided bankruptcy. From 65438 to 0984, the 23rd World Summer Olympic Games was held in Los Angeles, USA, and Ernst Whitney was in charge of scoring, which was the first time in the industry and the first time in the Olympic Games. 1979，E &； W under the planning of groves, Ernst & Young Whitney International was established. Winnie the Pooh International is an international organization, and groves himself is the chairman of the board of directors.

American e &；; The current representative of W firm is Ray J Groves, who was born in Ohio in 1935, graduated from Ohio State University with honors, and joined Ernst & Young in 1957. Nine years later, he was promoted to partner because of his excellent work. 1977, when he was 42 years old, he was elected as the all-American E &；; To replace his predecessor, Richard T. Baker. Under the leadership of groves, E &；; W's strength is growing rapidly, its business is advancing by leaps and bounds, and its ranking among the eight universities is rising steadily. According to the statistical data of 1984, e &；; W The total global public expenditure income is about 65.438 billion US dollars, of which the income of American companies is about 700 million US dollars. 1987, E &；; W's public fee income has been ranked fifth and third among the eight universities in the world and the United States. 1988, its total income was $265,438+$90 million, and its public expense income in the United States was $65,438+$65,438+$80 million.

Groves has made great achievements in the field of non-governmental auditing, and enjoys a good reputation in the American auditing field. Therefore, he holds leading positions in many accounting organizations. From 1980 to 1983, he served as a director of the board of directors of American Institute of Certified Public Accountants (AICPA), and was elected as the chairman of AICPA in June of 1984, becoming the first person in E&: W's history to hold the highest position in AICPA. In addition, he has served as the chairman of various committees, such as the chairman of the Certified Public Accountants Branch of the US Securities and Exchange Commission, the chairman of the US Securities Regulatory Commission and the chairman of the US Securities and Exchange Relations Commission. On the Historical Evolution of arthur young

Arthur young (AY for short) was founded in 1894, which is an earlier accounting firm in the United States. When it first opened, its capitals were E& and E & ampw, which cost only 500 dollars. However, after decades of efforts, it has finally developed into a large international accounting firm. In the early 1980s, it set up more than 300 firms in 75 countries around the world, with more than 20,000 partners and staff, and its total annual income exceeded 10 billion US dollars, ranking sixth among the eight largest companies in the world. Its visa customers exceed 8,000, such as Mobil Oil Company, Lockheed Aircraft Company, American Express Company, Pepsi Company and Texas Instruments Company. Large companies such as AY are frequent visitors. Arthur young was born in Glasgow, England on 1863, ranking third among the seven brothers. My father is a shareholder and broker of the shipping company, and once served as the chairman of Glasgow Trams Company, which is quite famous in the business community of Glasgow. 188 1 year, Arthur Zhan entered the university of Glasgow, first studying literature and obtaining a master's degree in literature; Later, he transferred to the law major and obtained a bachelor's degree in law. Arthur Jane got good grades in all subjects and studied economics, but he was not familiar with accounting. Therefore, 1888 entered a local bank to engage in audit work after graduating from university, with mediocre results. 1890 arthur young immigrated to the United States with his family and was employed by a company named J. Kennedy tod&; The bank moved from Scotland, raised funds from Britain and invested in many American enterprises. At that time, the bank was investing in building a large railway in the northern part of the mainland. Four years later, the bank was closed by its partners. At this time, arthur jan came into contact with the accounting business, deepened his understanding, and began to form the idea of establishing an accounting firm. Soon, he met Charles Stuart. Statter has been the chief controller of a copper mine company for many years. He wants to do things by himself. After a year of communication and preparation, they started Stuart Young(Stuart &；; Young) accounting firm. Besides them, there was only a stenographer and an office.

Later, due to the smooth expansion and vigorous development of business, the firm took the opportunity to set up branches abroad. 1895, Stat-Young's first branch was located in Kansas City, which was originally presided over by arthur jan himself; A year later, Arthur Zhan's younger brother joined S&; Y helps his brother in Kansas branch. Later, the branch was presided over by him. 1906, due to disagreement between the two partners at work, they broke up, and Statter quit the firm, and arthur jan and his brother continued to run it. The company changed its name to arthur young &; Company. )。 After the name change, arthur young Certified Public Accountants Co., Ltd., under the joint operation of Arthur Brothers, developed its business steadily and set up branches one after another.

New york Branch was established in 1907, Wisconsin Branch in 1908, LA Branch in 1920 and Pittsburgh Branch in 192 1. 192 1 years ago, the partnership contracts of all branches were independent. In order to strengthen internal unity and expand overseas with the help of the "group army", the partnership organization was changed from 192 1 to a national single contract. At that time, eight partners of AY signed a contract together. Two years later, arthur young set up its first overseas office in Paris. In the same year, in order to provide more satisfactory services to multinational companies such as American Standard Oil Company, ESSO Oil Company and American Radio Company, AY cooperated with broadus, Patterson &; Company. The accounting firm cooperated to set up a branch in London, named arthur young Broad Patterson &; Company.

From 65438 to 0944, with the increase of American investment in Canada, AY cooperated with Canadian accounting firms Clarkson, Gordon &；; Company. Cooperate to set up Canadian branches with the names of arthur young, Clarkson and Gordon &; Its main business offices are located in Toronto and Montreal. Since 1950s 19, AY has devoted itself to the development of overseas companies and strived to realize international operation. Before the merger, AY had established more than 200 companies in more than 70 countries or regions. AY has its own unique strategy in setting up overseas offices. It generally adopts a formal way of cooperation, that is, it becomes an ally with the original local accounting firm with appropriate scale and good reputation, and operates together, but actually becomes its own branch. Only when we have to do this, for example, we can't find a suitable partner in the local area, or customers can't wait to ask AY to provide local services immediately, AY will open a branch directly. AY has set up its own offices in Italy, Belgium, Brazil, Venezuela, Japan, South Korea, China, Hongkong, Indonesia and other countries and regions.

Among the eight universities, AY is in the middle and lower position (combined with the sixth in the front row, but very close to the seventh and eighth); However, in Canada and continental Europe, AY surpassed its top five.