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Erin Brown February 8, 2011 Information Systems
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Erin ernst and young

Editor's Notes

  1. This is a picture of Arthur Young and Alwin Ernst who started the companies that one day would merge together to be one of the largest accounting firms in the US.
  2. Young started his company in 1903 with his brother Stanley and it was called Alwin Young and Company. Then in 1906 Ernst started his business called Ernst and Ernst with his brother Stanley. They continued to grow and they also shared a similar vision which was quality and people. That led to the slogan which represents the company today which is Quality in Everything We Do. Ernst was also the first person to believe in developing people and students and he created a staff school in the 1920’s and was the first firm to start campus recruiting in the 1930’s. Ernst and Yound never actually met in life but they actually died within days of each other in 1948. The companies merged in 1989 and became one of the elite accountancy firms in the world.
  3. So Ernst and Young not only uses information systems but they actually have an IT department that helps other businesses develop and tweak their own so that they better suit what they need. They use information systems in their assurance and tax divisions because they have to stay up to date on the quickly changing information and rules on auditing and financial reporting. Their advisory division is the one that contains the IT department. They try to help not only E & Y to stay ahead of the game but also they advise other companies on how to manage their information systems and how they can use them to cut down on costs.
  4. These are the other members of the big four which are KPMG, Pricewaterhouse Coopers and Deloitte and Touche. In order to maintain a competitive advantage over their competitors, Ernst and Young tries to keep a steady inflow of newly trained employees that stay up to date on the most current information. They also like I mentioned before have their own IT department which gives them the advantage if they need something changed or updated they can work together with them directly to tell them what they need in order to get the perfect fit.
  5. As Ernst and Young is a privately held company or Partnership they do not have to release yearly statements but I was able to find that they were actually one of the first company to voluntarily release financial statements. They released statements in 2007 and their revenue was around 9 million Euros but it wasn’t clear if that was the entire company or just the European division. However, their financial situation must be pretty good because they still maintain their place at the top with the other three main competitors.
  6. Ernst and Young doesn’t really use a lot of social media to support their company. Most people know who they are and they don’t need a lot of publicity. They do use twitter, email alerts, webcasts and blogs and they mostly just post updates on rules and regulations to keep customers up to date on changes. Also they do have some things on youtube which are mostly them giving away awards for entrepreneur of the year but they do have a few recruiting commercials on there and I am going to show you guys one of the shorter ones.