EY Global Review 2020
How will we reframe our future?

Contents
EY Global Review 2020 | 2

EY Global Chairman and CEO’s letter...................................... 03
Supporting the United Nations Global Compact Ten Principles
and the UN Sustainable Development Goals............................ 05
Creating long-term value for clients........................................ 06
Creating long-term value for people....................................... 16
The importance of Diversity and Inclusiveness ........................ 20
Creating long-term value for society....................................... 25
Amplifying our social impact through EY Ripples..................... 31
EY facts and figures.............................................................. 37
Leadership and locations....................................................... 45

EY Global
Chairman andCEO’s letter
A year ago, we launched NextWave: the EY strategy andambition to create long-term value for clients, people andsociety. Back then, nobody knew how dramatically theworld would change in 2020, with the COVID-19 pandemic
and the sharpest global recession in a century creating
unprecedented challenges for individuals and society.
Yet in these challenging times, NextWave has put us ina strong position to adapt and innovate, and our purposeof Building a Better Working World has never been
more relevant.

Creating long-term value for stakeholders
For EY clients, we create long-term value by bringing
the whole of the EY organization to help them navigate
extreme volatility.
This year we developed the COVID-19 Enterprise
Resilience Framework, a tool to help clients evaluate theirrisks and levels of preparedness to deal with the pandemic.
The Framework acts as a map not only to what businesses
need to do now to address immediate pressures, but also
what they need to do next – and beyond – to help reframe
their future.
Through the crisis EY teams worked across borders andservice lines to re-route clients’ supply chains, manage
liquidity, guide them through government stimulus
packages, and advise on the impact on stakeholders.
Now we’re holding deeper conversations with clients,
around helping them innovate and build resilience forthe financial, societal and regulatory challenges, andopportunities, beyond the pandemic.

Looking ahead, EY will continue to make large investments
in digitization and technology – crucial in a COVID-19
environment – in order to better serve clients.
For EY people, creating long-term value means first andforemost ensuring their safety. In early 2020 we swiftly
activated travel restrictions and have since put in placecomprehensive guidance around meetings, events and asafe return to EY offices.
At the same time, we remain committed to enabling all
EY people to build the exceptional experiences they needto succeed.
A particular highlight this year was the launch of the EY
Tech MBA by Hult International Business School — the firstever fully accredited virtual corporate MBA, which is open
to all EY people.
We also remain committed to providing stable, high-quality
jobs. Despite the disruption caused by COVID-19, thisyear EY welcomed more than 76,000 new colleagues andhonored our long-standing commitment to 15,000 interns
around the world.
For society, EY creates long-term value through the work
we do every day — fostering confidence and trust in theworld’s capital markets, and having a positive impact oncommunities and the planet.
EY people also create long-term value by using EYexperience, services and influence to help solve some of
the world’s toughest problems. This year that included
organizing the world’s largest-ever hackathon to solvea range of COVID-19-related challenges, and helping
the World Health Organization to coordinate supplies of
personal protective equipment – for which EY’s efforts
were recognized during Global Citizen’s ‘Together at Home’concert in April.
I’m also proud that EY is the first global multi-disciplinary
professional services organization to commit to becoming
carbon neutral by the end of 2020, and that we havereaffirmed our commitment to the Ten Principles of theUnited Nations Global Compact (UNGC).
This year, we continued to support impact entrepreneurs
and young people – in many cases virtually – through the
EY Ripples corporate responsibility program. As a result,
we positively impacted the lives of more than 15m people.

			

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Looking to the future

Building a better working world

Like many other organizations around the world,life at EY this year changed dramatically. But we were
well prepared.

The world will not emerge from the COVID-19 crisis thesame as it entered. Yet as we start to look beyond it,
I am optimistic.

The ability to look ahead, adapt and transform at speed,
are critical characteristics for all organizations, including
EY. And through NextWave, we are also responding to
the current situation, planning for what’s next for EY andreframing our own future.

Over the past year EY people have demonstrated ourvalues, our purpose and our culture of compassion andteaming more than ever before. I am humbled by thecountless positive actions, big and small, that EY people
have taken to help each other, clients and society tackle
the crisis.

We are making bold investments in the EY organization:
we have created new Technology Consultancy capabilities;
we are expanding EY-Parthenon, which already comprises
the world’s fifth-largest strategy consultancy; andindustrializing how we capture and scale the innovations
taking place every day across EY locations.
As a result of our focus on our stakeholders, EY had
another year of strong growth with total headcountup to nearly 300,000 people and global revenue up 4.1%
to US$37.2b.

The crisis has also helped more and more organizations
understand the broader role that they play in society,and to look to what they can do to address pressing issues
such as environmental sustainability andeconomic inequality.
As we look beyond the pandemic, I believe that we cando better than returning to normal — I am confident thatworking together, we can build a better working world.

Carmine Di Sibio
EY Global Chairman and CEO

EY Global Review 2020 | 4

Supporting the United Nations Global Compact Ten Principles and the UN
Sustainable Development Goals
EY strives to adhere to the highest ethical standards,
including in relation to protecting human rights, upholding
international labor standards, protecting the environment,
and opposing bribery and corruption in all its forms.

Indicative of this commitment to integrating theUnited Nations Global Compact (UNGC) Ten Principles andthe UN Sustainable Development Goals (UN SDGs) into EY
strategy, culture and operations, this year’s Global Review
also doubles as the EY UNGC communication on progress.

UNGC principle
Human rights

Labor

Environment

Anticorruption

Report section
1.

Businesses should supportand respect the protection ofinternationally proclaimed humanrights; andCreating long-term value forpeople2.

make sure that they are not complicit
in human rights abuses

The importance of Diversity andInclusiveness3.

Businesses should uphold the freedomof association and the effective
recognition of the right to collective
bargaining;

Operating responsibly - humanrights and labor4.

the elimination of all forms of forced
and compulsory labor;

5.

the effective abolition of child labor;
and6.

the elimination of discriminationin respect of employment andoccupation.

7.

Businesses should support aprecautionary approach toenvironmental challenges;

8.

undertake initiatives to promote
greater environmental responsibility;and9.

encourage the development anddiffusion of environmentally friendly
technologies.

10. Businesses should work against
corruption in all its forms, including
extortion and bribery.

SDG impact

Amplifying our social impact
through EY Ripples

Operating responsibly –environmental sustainability

Operating responsibly –anti-corruption			

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01

Creating long-term value forclients
EY Global Review 2020 | 6

EY clients operate in a complex and fast-moving businessenvironment, where they are not only addressing thechanging demands of their customers, employees andother stakeholders, but also facing disruption brought on bygeopolitics, trade disputes, new technologies and businessmodels, and, this year, a global pandemic.
In response to a year when things changed so much for clients,
EY adapted, providing targeted solutions such as the new
COVID-19 Enterprise Resilience Framework – a diagnostic
tool designed to provide a methodical approach to crisis
management, recovery and reinvention.
We believe that as governments cautiously relax lockdown
measures, leaders must look to what comes next, and be
prepared to transform their organizations to the world beyond
the pandemic.
The COVID-19 Enterprise Resilience Framework identifies nine
areas – from employee health and well-being to insurance andlegal disputes – that not only support business continuity now,
but help reframe an organization’s future.
The Framework’s broad approach reflects EY’s commitment
to bringing the whole of the EY organization to meet clients’changing needs – providing assurance services; helping themgrow and transform; and operating components of theirbusinesses on their behalf efficiently and effectively – wherever
they may be located.
To continue to do this effectively EY is are developing abroader, more holistic range of services than ever before;
investing in technology and data; expanding our ecosystem;
industrializing how we capture and scale the innovations taking
place every day across our locations; and using EY sector
knowledge to deliver tailored solutions.
At EY, serving clients is our passion — NextWave is helping us todo that better than ever and deliver long-term value to clientsin a rapidly changing world.
			

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This combination of strategy, execution and operation in
one organization is a unique and compelling proposition
that provides clients with continuity and confidence
through their transformations.
This year we also launched EY Private, a new
approach to providing even better service to privatelyowned businesses, entrepreneurs and their sources ofprivate capital.

How we arehelping clients
combat COVID-19

It brings together the full depth and breadth of experienceof the EY organization via a globally connected advisor
who understands the unique challenges of a privatelyowned business, and builds on EY’s legacy of advising theworld’s most successful entrepreneurs, and addressing
the needs of private equity, family enterprises and IPObound companies.

Building new capabilities at scale
Supporting EY clients’ transformations
We know that beyond COVID-19, every company will needto transform and reposition for growth and resiliency.
We want to be the world’s leading transformation
consultants. The EY Strategy consulting teams,
EY-Parthenon, are already the fifth largest providers in
the world with combined revenues of more than US$2b,
and we will continue to grow them to help clients not justdevelop their strategic visions but to see them through tostrategy execution.
In many cases EY services can also help operate critical
functions through EY Managed Services — all part of the EY
commitment to provide end-to-end services and solutions
for clients.

EY Global Review 2020 | 8

COVID-19 enterprise
resilience
This year we developed theEY Enterprise Resilience Framework to help
clients prioritize what matters most for theirbusiness. The framework identifies nine areas
businesses can address to build a structured
and comprehensive approach to crisis
management and business resilience.

Creating world-classtechnology services

Bringing together the best in technology
We want to be the world’s leading transformation
consultants. And because these days every transformation
has important technology elements to it, we have launchedworld-class Technology Consulting services.
This will support clients’ transformation plans, throughglobally connected and coordinated services that bring
together the best in technology from across our ecosystemof alliances and our own in-house capabilities.
We are already delivering ground-breaking blockchain
projects, and we are proud that EY was ranked first among
the Big Four for blockchain services by HFS, a technology
analyst firm, in its annual Top 10 Enterprise Blockchain
Services report. We are also recognized by analysts inareas including Risk, Cyber, Digital, Innovation and more.
We are also using AI to analyze data — EY is one of thelargest collectors of business data in the world;
EY Helix has analyzed more than 580 billion lines of client
journal entry data in the past year on more than 58,000
engagements across 150 countries.
In the past EY often used technology to do things betteror faster. Today we are reaping the rewards of a two-year
US$1b investment program in client-facing technology andusing technology to do entirely new things for EY clients ina rapidly changing world.

Can digital help
one event deliver
240 million humanexperiences?
Watch how EY India helped transform theworld’s largest event, Kumbh Mela 2019 inIndia, by implementing new technologies anddigital interventions.

Analyst relations
We are proud of the many independent
evaluations from analysts — for example,
this year IDC MarketScape named EY as aleader in the IDC MarketScape: Worldwide
Cloud Professional Services 2020 Vendor
Assessment (doc #US45439120, April 2020).
Find out more about how EY is recognizedby analysts, as well as the full list of
independent evaluations.

			

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Transformation throughManaged Services
Reimagining core functions

One of the challenges that EY clients face as theytransform their businesses is running their non-core but
board-critical functions more efficiently and effectively.
We are scaling EY Managed Services significantly tomeet demand.
EY Managed Services combines core domain expertisein areas such as tax, finance, risk and compliance with
innovative technology to run clients’ non-core but
board-critical functions, efficiently and effectively. Using
EY people, technology and processes gives companies the
freedom and confidence to focus their time and energy on
growing their businesses and competing in the market.

Innovating at scale and speed
From big bets to impactful ideas

To better meet clients’ changing needs, EY must be able toinnovate at greater scale and speed than ever.
To ensure a coordinated and consolidated approach, weare creating a Transformation Zone that will bring together
teams from across EY to drive a cohesive, strategic focus
on innovation for all of EY.
The portfolio of projects under this single remit range
from large, forward-looking bets to smaller, impactfulideas that are quick to implement and require relatively
low investment.
Making big bets on future services as well as increasing theability to capture and replicate the innovation that occurs
daily in EY’s engagement teams is fundamental to clients’,and EY’s, success.

Working as part of an ecosystem

Bringing different skills together to create value
Today’s business world is so complex and the pace ofchange so fast that no single organization can provide thebest solution to every client problem. That’s why EY works
as part of ecosystems — where different organizations
bring their specific skills and knowledge together to create
more value as a group than any of them could separately.
Being part of ecosystems helps us bring better solutions
to clients. We have more than 30 ecosystem relationshipsthat include technology alliances, intellectual property
relationships and service-delivery relationships, inorder to bring diverse teams of different subject-matter
professionals to help create client value.

EY Global Review 2020 | 10

How telehealth is
helping address
the challenges of
COVID-19
Digital innovation is helping a leading US
healthcare network cope with the challenges
of social distancing.

Sharing sectorknow-howWhether analyzing the future of cities’ central
business districts or the role of renewable energy
in a post COVID-19 world, EY identifies the sector,
market and geopolitical-specific implications,
today and tomorrow, for clients’ businesses.
And as the COVID-19 crisis develops, looking
beyond the horizon and traditional competitors is
crucial for clients’ long-term success.
EY Megatrends does just that. The 2020 reportexamines how root causes of disruption –technology, globalization, demographics andenvironment – interact to create new megatrends,
and how these megatrends in turn are reshaping
the political and economic landscape.
Proactively staying connected, providing supportand sharing related insights, experiences andsolutions will help EY clients prepare for what lies
ahead and challenge assumptions about sector
structures, where competition will come from, andwhere growth will be found.

Ongoing investment in EY’ssector knowledge
Ensuring a ‘whole’ EY approach
Clients rightly demand deep sector knowledge andsolutions delivered by teams drawn from across service
lines and alliance partners.
To meet clients’ needs – particularly in the newStrategy and Technology practices where deep sector
knowledge is a prerequisite – we are investing insector-specific solutions, enhancing leaders’ roles toensure we always take a ‘whole of EY’ (including alliancerelationships) approach, and enabling EY leaders to makeinvestment decisions that deliver long-term value andgrowth for clients.

How a new technology
platform is helping
banks go digital
The EY Impresto platform is a mobile-first,
AI-optimized tool for addressing some of banks’biggest challenges.

			

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EY service lines
We bring the whole of the EY organization
to clients, helping to assure, grow,transform and operate.

Assurance
EY Assurance services — comprising Audit, Financial
Accounting Advisory Services (FAAS) and Forensic &Integrity Services (Forensics) — address risk and complexity
while identifying opportunities to enhance trust andconfidence in business and the capital markets.
EY Audit furthers the public interest by proactively
addressing stakeholders’ needs for trust and confidence
in the capital markets. This is accomplished through adata-first approach enabled by analytics and digitallyempowered teams who are committed to independence,
integrity, objectivity and professional skepticism.
FAAS and Forensics’ teams help protect and restore
enterprise and financial reputations, support the financefunction in enhancing decision-making and efficiency, andaddress the risks and opportunities arising from climatechange and sustainability issues.
Together, EY Assurance services protect and promotesustainable, long-term value for stakeholders.
Clients require greater insight from the services provided,
while regulators and the capital markets want greater
assurance over a wider range of measures and a deeper
sense of trust across the business world. And EY people
want more varied experiences and opportunities to add
greater value.
To meet these expectations, EY Assurance’s aim is to be
the pre-eminent and most trusted global Assurance service
providers by focusing on three areas.
First, it is continuing to develop the audit of the future,delivering greater insight, assurance and value to clientsand the capital markets through ever more sophisticateddata analytics. In the past seven years Assurance has
invested more than US$700m in digitalization andtechnology. As a result, EY Canvas is now the leading
global audit technology platform connecting more than
145,000 EY audit teams and 280,000 client users and is
deployed on all audit engagements.

EY Global Review 2020 | 12

Consulting
And EY Helix has analyzed more than 580 billion linesof client journal entry data in the past year on morethan 58,000 engagements across 150 countries.
Furthermore, EY today is the leader in providing trust andconfidence to blockchain ecosystems through the
EY Blockchain Analyzer.

EY Advisory is already world leading in businessconsultancy. It has been ranked number one in Business
Consulting by analysts and named a leader in Risk,
Cybersecurity, People Advisory Services, Digital,
Innovation, Robotic Process Automation (RPA), Financeand Supply Chain, and Operations.

Second, Assurance is continuing to respond to thegrowing need of companies to interpret, communicate
and shape their strategy around financial and nonfinancial
information. Assurance sits at the heart of themultidisciplinary EY model and Assurance professionals
work with teams from other service lines daily to deliver
long-term value to clients.

The aim is to become the world’s leading transformation
consultants. To reflect this ambition, EY Advisory haschanged its name to Consulting; ‘Consulting’ is more
widely used in the market and more closely describes
what we do.

Third, EY Assurance people are the greatest asset indelivering quality and value and building trust. We are
elevating their experiences, using data and technology, sothey can spend more time addressing risks and exercisingprofessional judgement. Enabled by technology, EY
Assurance is continuing to build on our multidisciplinarymodel to deliver more value and insights.
Looking ahead, as data become even more central to
everything EY does, EY Assurance will continue to increase
the value it brings to clients. EY Assurance will also be thebest place for people in applying cutting-edge technologies
and sophisticated data analytics — all while serving
the public interest and feeling a strong sense of theircontribution to Building a better working world.

Transformation is not a new concept; consulting firms
have long aspired to wholly transform their clients’organizations to set them up for greater success.
What is new is the sense of urgency many clients now feel,the need for continual reinvention while meeting shortterm financial expectations, the pace of change and thelevels of uncertainty that now prevail in many markets. EY
believes all these factors are reinvigorating demand fortransformation and creating new conditions for success.
To help clients generate long-term value, Transformation
Realized is the lens through which EY brings together
transformative capabilities, skills, solutions and tools
to create impact throughout clients’ enterprises andbroader ecosystem. We put humans at the center, delivertechnology at speed and enable innovation at scale.
Technology is a vital component in every client’s
transformation. To that end, we are creating world-classTechnology Consulting services within Consulting which
will bring the best technology to clients to achieve theirobjectives — from across the EY ecosystem of alliances andusing the in-house capabilities of the 40,000+ specialist
technologists who work at EY.

			

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Strategy and Transactions

Tax

The challenges that EY clients face today, and tomorrow,require a more connected suite of solutions.

More than ever before, in this era of unprecedented
economic uncertainty fuelled by the global pandemic,clients see EY Tax as a trusted business advisor on thefront line of strategic and transformational decisions that
improve their organizations’ resilience and long-term value.
In this dynamic environment, we are building a betterworking world by enabling business decisions throughinsights on government policy, regulatory obligations
and operations.

It’s why EY Strategy and Transactions (formerly known
as EY Transaction Advisory Services) developed theConnected Capital Solutions (CCS): Strategy, Corporate
Finance, Buy and Integrate, Sell and Separate, andReshaping Results. The CCS help clients to unlock theirCapital Agendas, develop their strategic vision and convert
it into concrete plans. Then, leveraging the global reachand depth of EY services, clients can execute those plans,transform their businesses and reach their full potential.
To deliver this unique proposition, Strategy andTransactions brings together world-class strategy services
in EY-Parthenon (already the fifth-largest strategy
consulting providers in the world with revenues of morethan US$2b), with teams with experience in Transactions
and Corporate Finance and the experience of International
Tax and Transaction Services professionals.
The CCS are supported by Connected Capital Technologies— an integrated suite of technologies that uses AI,
automation and advanced analytics to bring deeper
analysis and faster insights to enable better decisionmaking and a more seamless delivery.
Bringing clients the full spectrum of EY strategy andtransactions capabilities helps them define their strategic
direction, drive actionable plans and deliver against theirtransformation strategies.
It also means that Strategy and Transactions teams can beeven more agile in how their capabilities, know-how andexperience are brought together. It puts clients at the heartof every engagement, and it opens exciting opportunities
for EY people to accelerate their careers and realize theirfull potential in an inclusive, high-growth environment.

We continue to provide the market with leading crossborder tax and legal advice. Many companies are facedwith challenging supply chain decisions given the changing
geopolitical dynamics and shortages caused by the global
pandemic. We have been providing them with real-time tax
and legal advice, enabled by leading-edge technology andmodelling tools, to empower sound decision making.
Increasingly, businesses are turning to co-sourcing
their tax and finance and legal functions to maximize theirown capabilities, build a strong, adaptable organizationand fortify their bottom line. In a recent survey, 5 out of 10organizations said they would choose to work with EY Tax,
which includes 65,000 highly skilled professionals locatedin 145 jurisdictions around the globe who are deeply
knowledgeable in tax, law and talent-related issues.
The EY Tax and Finance Operate solution and a growing
number of other EY Tax Managed Services offerings,
including Legal Managed Services and Payroll Operate,
are driven by the EY Tax Platform (GTP), which runs on
Microsoft Azure. GTP is the first cloud-enabled technology
of its kind among the Big Four with global scope, andcapability enhancements continue to be added to thismarket-leading platform. The 2020 Microsoft Partner of
the Year Awards specifically recognized the GTP
among EY teams’ global capabilities, services andsolutions that combine innovation, robust skills andMicrosoft technologies.
With the acquisitions of EY Riverview Law and Pangea 3
in FY19, EY became the first provider to offer global legal
advisory, legal function consulting and a robust, industryleading legal managed services (LMS) solution. Upon
integrating these deals this year, EY Law was recognized

EY Global Review 2020 | 14

by the Financial Times as a disruptor in the legal services
space and named the leader in Acritas’ Global Alternative
Legal Services Provider brand index.
In June 2020, an agreement was finalized to technologyenable EY global trade services and expand the EY global
trade managed services offering through a transaction
with software and content solution provider GTKonnect.
Connected to GTP, this technology and the talent behind
it will greatly strengthen our credentials across many
aspects of global trade.
The technological and operational transformations
many organizations are now undertaking also require
strategic workforce transformations to ensure theirsuccess. EY People Advisory Services (PAS) teams
continue to help clients address complex workforce issues,
including remote working resulting from the pandemic
and physical-return transitions. Our Global Physical Returnand Work Reimagined (PRWR) framework helps clients
focus on short-term physical-return related issues as
they simultaneously explore longer-term opportunities
to transform their work environments and business
operations for a seamless shift towards the “next normal.”
Even as we look to the future, EY teams are helping
clients navigate the present as governments around theworld take action to support businesses and stimulate
their economies. The EY COVID-19 Stimulus Response
Tool empowers clients by monitoring developments,
determining their critical needs, prioritizing a plan andthen tailoring actions for continued stabilization. The tool
works in tandem with nearly a dozen regularly updated
response trackers to display incentives relevant to a client,costs and benefits of a given incentive and the status of
any application made.
Over the past fiscal year, we launched the first EY directto-consumer service with the enhanced and expanded
EY TaxChat™. EY’s award-winning, on-demand mobile
tax preparation app offers personalized service from alicensed EY professional. Designed to handle the growing
complexities of tax filing, it appeals to time-pressed, massaffluent individual taxpayers. The EY TaxChat mobile app iscurrently available in the US, UK and Brazil, with expansion
into Australia and the Netherlands underway.

			

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02

Creating long-term value forpeopleEY Global Review 2020 | 16

This year, more than ever, has demonstrated the importance of enabling our people to help
solve the world’s toughest problems, support the creation of long-term value and bring out thebest in themselves and others.
We also prioritized the health and safety of EY people, clients and communities by swiftly
implementing guidance for travel, meetings and events, as well as a safe return to EY offices
and client sites.
Ongoing EY investments in technology, combined with a strong existing culture of flexible
working, meant we also quickly adapted to a fully remote work environment for nearly 300,000
EY people.
We were also particularly aware of the need to be even more intentional about what EY people
need to support their well-being. From the outset, additional resources and benefits for EY
people were developed, based on local needs, including increases in childcare provision, andmental and physical health resources.
At the same time, we remain focused on ensuring that EY people can continue to build theexceptional experiences they need to thrive, in a very fluid environment.
EY is investing to empower people with the right mindsets and skill sets to navigate what’s next.
This will help create agile and engaged teams who deliver exceptional service, and create longterm value to clients and society.
One of the important ways we’re doing that is by updating the promise we make to EY people.
We have long said that people have an exceptional experience at EY. That is as true today as
ever, but it doesn’t just happen — EY people need to make it happen.
EY provides the opportunities and EY people build their own exceptional experience.
To better reflect this, ‘The exceptional EY experience — it’s yours to build’ is the new promise to
EY people.
Sharpening the skills of current EY people is crucial; we also know, that as clients’ needs
become more complex, we need people from a broader range of backgrounds than ever before.
That means attracting, recruiting and retaining people with diverse perspectives andaspirations, who want different experiences. Today EY has more than 40,000 specialist
technologists — AI specialists, mathematicians, data scientists, software engineers, productmanagers and UX designers — working alongside people with backgrounds in strategy,
consulting, accounting, finance, law and tax.
We know that to serve clients today we want the best ideas from the broadest group of people;
and we need to value differences and team inclusively to build safety and trust.

			

17 | EY Global Review 2020

#BetterTogether
As we continue to navigate COVID-19 aroundthe world, we are proud of EY people’s efforts,
big and small, to bring hope, inspire action andmake an impact. The EY culture of compassion
and teaming was displayed through a global
campaign, #BetterTogether, in which EY people
shared stories and recognized those helping
each other, clients and society tackle COVID-19
pandemic challenges and build an even betterworking world.

The MBA builds on the EY Badges program, which gives
EY people future-focused skills. There are now more than
100 EY Badges to choose from, covering topics such astechnology, sustainability and leadership.
EY people have already earned more than 70,000 Badges
with more than 100,000 Badges underway, with Data
Visualization and Digital the most popular.
In today’s quickly changing world, ideas of leadership arechanging fast too. That is why EY has also developed a newTransformative Leadership model that brings together EY’s
purpose, values and the leadership behaviors the world
needs right now. The model is designed to help everyone
at EY build a ‘better me’, a ‘better us’ and a better working
world for EY clients and society.
We are also focused on offering ‘multi-track’ career
paths, supporting increasingly diverse career journeys,
empowering EY people to build careers that are as uniqueas they are, and to proactively seek out the experiencesthat will help them go further.
As the world undergoes unprecedented change it’s more
important than ever for EY people to never stop learning.
Indeed, clients’ ability to innovate depends on it.

Developing EY people to navigate
what’s next

Giving training and support for increasingly diverse
career paths
In FY20, before the pandemic, EY completed theglobal roll-out of a state-of-the-art learning platform
which positioned EY to rapidly ramp up delivery ofvirtual learning.
During the pandemic, virtual learning increased from
31% of total hours in FY19 to 55% in FY20, as EY people
made use of the opportunity to develop their skills while
they are working from home. In FY20, EY invested over$450 million in formal learning – spend decreased from
FY19 because of a reduction in travel when classes werecancelled mid-year due to COVID-19 – and delivered morethan 16 million hours of learning.
This year also saw the launch of a new EY Tech MBA
by Hult International Business School. One of EY’s
most anticipated and ambitious learning programs, thecollaboration makes EY the first organization to offer
an entirely virtual MBA for free, for all EY people
in 150 countries.

EY Global Review 2020 | 18

Talent Acquisition and Attraction
goes virtualInterns rise to online and in-person opportunities
This year all Talent Acquisition and Attraction andonboarding activity — interviews, career fairs andrecruiting events — were converted almost overnight
to a virtual experience in order to continue to support
recruiting needs in EY.

In FY20 more than 76,000 client-serving people
from among 2 million applicants were welcomed to
the EY family.
Long-standing commitments to internships were honored,
despite the disruption caused by COVID-19. EY offered
15,000 internships this year, with more than halfdelivered virtually. Our interns took to social media toshare their experiences, through Instagram Takeovers
and Stories, and even posting ‘day in the life’ content
from their homes, complete with guest appearancesfrom pets, roommates and children. EY Talent Attraction
and Acquisition teams worked hard to be able to provide
a valuable experience, with interns contributing to live
projects and delivering meaningful work even if they
were working from home, and ensured that interns felt
supported by the EY culture and inspired by our purpose.

Capturing insights and feedback tomake better decisions

Transforming ways of working over the long-term

One million strong — EY alumni

Helping connect EY people past and present
Strong relationships are key to EY — it’s what underpins
high-performing teams delivering exceptional service forclients. And EY alumni are amongst the most important
relationships we have.
The EY Alumni network is active in more than 75 countries
and helps connect EY people, past and present, to friends,
opportunities, resources and networks.
Today EY alumni — more than one million people aroundthe world — are in every sector: as entrepreneurs,
academics, corporate leaders and working in charitableorganizations and government agencies.
We proudly celebrate our alumni relationships and EY
ambassadors in many ways — one of which is celebrating
EY Alumni Week. Each year we take a moment to recognize
our alumni, our extended EY family and the contributions
they are making to help us build a better working world.

In addition to empowering EY people to pursue meaningful
skills and experiences and supporting them to personalize
their careers at EY, proactive, authentic and empathetic
two-way communication is crucial.
That’s why we use a range of listening tools, including
surveys and a single-question ‘mood tracker’ that leverage
integrated technology and data, to regularly capture andrespond to what EY people are experiencing.
This was particularly important as the COVID-19
crisis developed.
Ongoing feedback and conversations during this time
meant we were able to be even more intentional about
what EY people needed, whether that’s additional
training — one of the most popular online courses this year
was ‘how to run virtual meetings effectively’ — or additionalchildcare benefits.
EY people’s insights and feedback help create better
experiences. They also help teams to collaborate better,
support each other more effectively, and foster a greater
sense of belonging.
Throughout the year new ways to team and learn
were found, and we are looking at how these experiences
can inform different, more agile ways of working in
the future.

			

19 | EY Global Review 2020

EY awards andaccolades
EY people work hard every day to help build
a better working world. It is a matter of pride
when respected organizations recognize
these efforts.

The importance of Diversity
and InclusivenessGreater diversity and inclusive environments drive better
decision-making, stimulate innovation and increaseorganizational agility — crucial to helping our stakeholders
respond to the now, prepare for the next and reframe
their future.
Diversity and inclusiveness (D&I) are core to who we are
and how we work. To help EY clients tackle their toughest
challenges we need the best ideas from the broadestgroup of people, who in turn, should feel that they belong,that their unique contributions are valued and their voices
are heard.
At EY we have been on our D&I journey for decades. And
while we have made substantial progress, under our global
NextWave strategy and ambition we have committed toincreasing D&I progress throughout the organization.
Including varying points of view in decision-making,operations and actions is fundamental to establishing longterm value for EY people, as well as long-term client, socialand financial value. This helps us to fulfill the EY purposeof Building a Better Working World and enables all EY
people to have exceptional experiences.

EY Global Review 2020 | 20

EY people, our clients and external stakeholders expect
more inclusive workplaces; and we also expect more fromourselves: more accountability and more transparency.
EY’s inclusive values underpin our actions and guideus daily.
The EY Global Executive, EY’s highest leadership body,has made a visible commitment to EY people and to themarket to accelerate D&I at EY through signing the Global
Executive Diversity & Inclusion Statement. Not only does
this reinforce that D&I is a key business lever, it ensuresthat we hold ourselves accountable for progress, startingwith the tone at the top.
A further step up to enable greater accountability acrossthe EY organization is the launch of the Global D&I Tracker
which helps us track progress with consistent diversity
and inclusiveness metrics and reporting across theorganization globally.
We generate more progress, faster and more consistently
around the world in alignment with the D&I Roadmap
and Culture Change Continuum, EY’s approach andmethodology for D&I that sets out our journey.
The roadmap is brought to life across EY by the EY Global
Diversity and Inclusiveness Steering Committee (GDISC),
co-chaired by EY Global Chairman and CEO, Carmine Di
Sibio, and EY Global Vice Chair – Diversity & Inclusiveness,
Karyn Twaronite. Its members, drawn from across theorganization, are charged with bringing the roadmap to life
across EY by exploring challenges, surfacing
successful practices and collaborating on solutions toaccelerate positive progress. In 2020, EY was again named
the top organization for Executive Diversity Councils byDiversityInc magazine.

Defining D&I at EY
Diversity is about differences. At EY we think broadly
about differences, such as nationality, language,
education and gender, identity/expression, sexual
orientation, generation, age, socioeconomic background,working and thinking styles, religious background,abilities and disabilities, experiences, career paths,
technical skills and identity dimensions defined andconstructed by some societies in ethnic, color, cultural,or racial terms. There are also differences according togeography, service line, sector and function.
Inclusiveness is about leveraging these differences tocreate an environment where all EY people feel, and are,valued for who they are, have a sense of belonging,
and are inspired to contribute their personal best in
every encounter.

EY’s commitment
to address
discrimination andadvance social equity
Carmine Di Sibio, EY Global Chairman and CEO, has
pledged to make sure at EY our actions match ourwords both internally and in our communities. As tragic
violence in the US sparked protests and demonstrations
around the world, it highlighted a long history of injusticeacross societies. Recognizing that EY have the power tobe stewards of change and do more to advance justice,inclusion and equity, we have made commitments acrossthe EY organization to drive strategic change within EY
and the communities where we work.
To support these commitments for further progress,
we’ve also stood up the Global Social Equity TaskForce(GSET). This group will help accelerate EY’s commitment
and prioritize cohesive global actions specificallyaddressing inequity and discrimination, including racism.
It includes a cross-section of EY leaders spanning
geographies, service lines, functions and representing awide range of backgrounds and perspectives.
As two country examples of our broader global response,see EY’s commitments to anti-racism actions in both the
US and the UK.

Inclusive leadership in times of crisis

Strengthening inclusive leadership behaviors is key
Inclusive leadership amplifies the positive impact ofour connections with one another, and is essential
to cultivating a sense of safety, trust and belonging,
especially during challenging times.
The world has experienced unprecedented events this past
year, including the pandemic and the global resonance oftragic violence in the US, signaling that the broader issuesof inequity and racism are not unique to a single country orgroup. Through these difficult times, EY leaders have cometogether to actively listen to the stories and needs of those
impacted to affirm connectedness, solidarity, and support
for EY people in a time of stress, anxiety and uncertainty.
Inputs from these sessions will mobilize action plans andsupport EY’s global commitment to act as stewards ofchange against injustice and discrimination, and to strive
for equity across the EY organization.
As we navigate together through times of global crisisand help EY clients do the same, strengthening inclusive
leadership behaviors is key — from role modeling andholding others accountable, to equitable decision-making,to checking-in and building connections with empathy
and curiosity.

The importance of
belonging
Cultivating a sense of belonging at work is
the key ingredient to increase engagement,
productivity and innovation. When employees
feel like they belong, they feel valued,
understood and seen — that their differences
are strengths and their contributions matter.
Learn more about belonging.

			

21 | EY Global Review 2020

Supporting inclusion across differences

25 years of advancing LGBT+
workplace inclusion

EY people are made up of diverse talent and perspectives.
We recognize all differences through raising awareness,building understanding and sparking conversations
internally with EY leaders and people, and externally withclients about inclusion in the workplace.

Many lesbian, gay, bisexual and transgender (LGBT+)
people around the world still face social exclusion anddiscrimination, just for being themselves. In a time ofuncertainty and potential isolation, this can be amplified.

Driving positive change

We are proud of our progress and know these are ongoing
conversations. Below are a few examples of our actions.

How can embracing disabilities expand
our capabilities?
EY co-founder Arthur Young trained as a lawyer. Afterlosing much of his eyesight and becoming deaf, he could nolonger practice courtroom law. He turned to the emerging
profession of accounting, which offered opportunities
to use his skills in new ways. His disability drove him
to innovation and entrepreneurship, which remain
cornerstones of the EY organization today.
Today, more than one billion people around the world
are living with a disability, including EY people andclients. Eighty percent of people with a disability acquire
it between the ages of 18 and 64 — their prime working
years. We have a responsibility to promote a dialogue— within EY and with other organizations — about how
disability inclusion leads to better business outcomes andgreater feelings of belonging and inclusion.
In 2019, EY signed on to the Valuable 500, a global
campaign calling for 500 of the most influential businesses
to ignite systemic change by unlocking the business, socialand economic value of the one billion people living withdisabilities globally.
We committed to put disability inclusion on our leadership
agenda to ignite change and unlock business value.
We also united for a Global Disability Inclusion campaign
and proudly recognized the International Day of Persons
with Disabilities (IDPWD) on 3 December 2019, to signify
our solidarity and commitment to disability inclusion.
More than 30 local events around the world took place,from Toronto to Madrid to Tokyo. Amplified by EY leaders’around the world, the campaign also generated discussion
on how organizations can advance disability inclusion.
Around the world, local disability inclusion efforts
include our focus on dyslexia, our Neurodiversity Centersof Excellence and partnering with disability inclusion
organizations in Hong Kong and Singapore to recruit andhire talent with disabilities.
EY Global Review 2020 | 22

This year EY continued to champion and support theLGBT+ community around the world and advance LGBT+
inclusion through marking 25 years of Unity, EY’s
LGBT+ network.
Founded in 1995, the network was one of the first of
its kind in the private sector in the UK and was thefirst employee-led network at EY. There are now 4,750
members in more than 70 countries and territories aroundthe world.
Through Unity and other global advocacy efforts, theambition is to serve as an example to EY clients and otherorganizations who are looking to increase their LGBT+
inclusion efforts and to offer guidance to others.
To support this work, EY has sponsored and co-developed
research to show the impact of advancing LGBT+ inclusion,
including Opening up the World, Out in the World, Making
It Real Globally, and Out Leadership’s Ally Up: Ally is a Verb
research, launched in June 2020.
This research and history of convening gives the EY
organization a unique opportunity as a founding sponsor
in the Partnership for Global LGBTI Equality (PGLE) andoriginal signatory of the United Nations Standards ofConduct for Business to elevate visibility of the impact of
LGBT+ inclusion.

Focus on allyshipAs a part of EY’s LGBT+ inclusion efforts, we also focus on
authentic and powerful conversations with allies within andoutside of EY.
• In the GDS practice in India, a webinar series used
storytelling to bring focus on allyship and creating safe
spaces for LGBT+ employees. Stories shared ranged
from colleagues with gay children to family members
who are proud allies as well as workplace allies leading
inclusion efforts at clients, and more.
• Patrick Winter, EY Asia-Pacific Area Managing Partner,
joined Unity leaders for a ‘Breaking the silence’ webcast
to share and hear personal stories within EY about how
we are speaking out and standing up to discriminationand harassment.

Supporting LGBT+
professionals andfamilies
In the US, EY’s progressive policies support a more
inclusive working world, such as our Pathways to Transition
program which offers assistance with gender affirmation
medical care, and our Pathways to Parenthood program,which offers support with surrogacy and family leave forall. Watch Joe Matuszewski, an EY US partner, share hisfamily’s story of adoption.

• In the Americas, more than 100 EY professionals haveparticipated in the online Ally2Advocate program, aself-directed interactive tool that allows participants
to expand their allyship skills and self-identify as
LGBT+ allies. Unity also hosted a global webcast on
Bi+ inclusion to raise awareness and build allyship forbisexual communities.
• And across EMEIA, a network of LGBT+ allies has beencreated to affect the culture change needed to support
LGBT+ people in being themselves at work. More than
• 2,000 allies have registered from across EMEIA, andan allies’ website holds a directory of members andadditional materials to help EY people be effective
LGBT+ allies.

Accelerating women’s equality
A critical component of EY’s D&I agenda concerns theadvancement of women.
Based on our experience and the momentum of our
Women Fast forward (WFF) platform, EY is guiding how
every person — women, men, trans women, non-binaryand gender non-conforming people — and organization— corporations, non-profits, governments, schools andothers — across the world recognize and advance
women through specific commitments designed toaccelerate change.
Three pillars make up the WFF platform:• Women entrepreneurs, including EY Entrepreneurial
Winning Women, a global community ofnearly 600 members in 43 countries, including
women founders who are working on everything fromcures for Alzheimer’s to protecting companies fromcyber threats.

EY’s 2019 WorldPride campaign unified ourpeople around the globe for the first time tocelebrate LGBT+ inclusion and drive discussions
in new places.

• Women in business, including the EY Women Athletes
Business Network, which supports and celebrates theunique leadership skills of female athletes. Since 2016,
EY has hired 19 Olympians and elite athletes. Learn how
winning on the playing field can translate to success inthe boardroom.
			23 | EY Global Review 2020

• Women and technology, including the Women in
Technology program (WiT) program which focuses on
closing the gender gap in technology and creating anenvironment where girls and women are encouraged toenter, remain and thrive in the sector.

Everyday #SheBelongs
EY calls on all EY people and networks tomake sure that #SheBelongs. We believe thatgender equality is not a problem to solve; rather
gender equality is the solution to business andsociety’s most complex challenges. This year wecelebrated one of these special days, International
Women’s Day, externally and across the EY
organization globally — to drive awareness of theimportance of gender equality.

Accelerating equality is an economic imperative thatcreates higher growth, increased prosperity and stronger
communities. This acceleration is key to building a betterworking world and helping EY stakeholders to challenge:
what more can they do to ensure that #SheBelongs?

hashtag — it’s a reminder that today more thanever, women belong at all levels of decisionmaking. We are proud to take an active role inadvocating for women and leading by example sothat #SheBelongs.

By thinking differently, acting differently andengaging differently we can all help ensure that
#SheBelongs. #SheBelongs is more than a

Leadership groups by gender

2018

2019

2020

Total

Women/men

Total

Women/men

Total

Women/men

Global Executive

19

26%/74%16

31%/69%18

33%/67%

Global Practice Group

122

22%/78%116

24%/76%112

27%/73%Global Governance Council

39

33%/67%

41

25%/75%

40

28%/72%Global Client Service Partner*

301

12%/88%300

13%/87%298

13%/87%

Partners/Principals/Exec
Directors/Directors by gender

2018

2019

2020

Total

Women/men

Total

Women/men

Total

Women/men

Ptrs/Principals

11,87020%/80%12,30921%/79%12,496

22%/78%

Ptrs/Principals/Exec Directors/
Directors

18,093

24%/76%

18,86825%/75%

19,663

26%/74%

Total people

261,559

48%/52%

284,018

48%/52%298,96548%/52%

Promotions

FY18

FY19

FY20

33,88841,33643,800

Promotions to partner

747

758

600

% of women among new partners

29%

28%

33%

% of promoted partners from Emerging Markets

32%

35%

37%

Total promotions

EY Global Review 2020 | 24

03

Creating long-term value forsociety			

25 | EY Global Review 2020

At EY we strongly believe that the things we do every day go along way toward creating long-term value for society.
For example, EY Assurance services help to foster confidence inthe capital markets by delivering high-quality audits, and all EY
services help to build trust, whether directly through the work
EY teams do or indirectly through what that work allows others
to achieve.
That is why across the four service lines there is significant
investment in recruiting, training and retaining highly qualified
people in their respective disciplines.
EY people also make positive contributions to the public
interest by playing important roles across business and in theircommunities as members of professional associations, by working
with standard setters and participating on boards.
In addition to what we do every day, we also believe that businesshas a role to play to help tackle some of the world’s toughest
challenges particularly in a year when millions of people have had
their livelihoods severely disrupted, or their careers and education
put on hold.

EY Global Review 2020 | 26

Serving the public interest
Focus on quality

The role of EY auditors is to serve the public interest andprovide confidence to the capital markets by providing
high-quality audits. The Sustainable Audit Quality (SAQ)
program is EY’s commitment to conducting globallyconsistent, high-quality audits sustained over time.
SAQ demonstrates EY’s determination to keep audit quality
as a primary focus. It is the single most important factor
in EY decision-making, and the key measure on which EY’s
professional reputation stands.
EY is a strong believer in the multidisciplinary model — theskills and knowledge of EY people in other service lines
provide the breadth and depth of technical skills andindustry experience necessary to deliver high-quality,
complex audits. It also gives EY the scale and resources toinvest in cutting-edge technologies that are reshaping theway information is gathered and analyzed.
Part of the EY NextWave ambition is to create
long-term value as the world’s most trusted, distinctive
professional services organization. As such, our goal is tobe the most trusted auditor.
We will measure this based on external inspections rates
from IFIAR regulated countries, which include the Global
Audit Quality (GAQ) working group (currently composedof 10 country regulators: Australia, Canada, France,
Germany, Japan, Netherlands, Singapore Switzerland, US
and the UK).
The external inspection rates are based on deficiency
rates, as defined by the respective regulator, basedon the most recently completed inspections as someregulators have different inspection cycles, for public
interest entities. We recognize that much of audit remains
a human endeavor and, therefore, has an inherent risk of
mistakes. Our ambition, however, is for EY audits to haveno significant deficiencies.

External inspections
In 2015, the International Forum of Independent Audit
Regulators (IFIAR) issued a challenge to the global audit
networks, calling on them to achieve a 25% reductionin ‘deficient audits’ — audits with at least one significant
inspection finding — by 2019 for listed public interest
entities. EY achieved this goal in 2019.

The IFIAR has issued a new challenge to the global audit
networks, calling for another 25% reduction in deficient
audits by 2023 for listed public interest entities across 25
countries. EY is currently on track to meet that reduction.
However, that metric is a point in time measurement andoutcomes could change.

Internal Inspections
Internal inspections are also performed on engagements
each year. EY leadership conducts the annual Audit
Quality Review (AQR) program as an important elementof assessing the system of quality control at the member
firm, regional and global levels. The results of the AQR
process are summarized globally (including for Areas andRegions), along with any key areas where the results tell usthat continued improvements are required.
Below are our results:
Internal inspection resultsof audits in IFIAR-regulated
countries

2017

2018

2019

Compliant engagements

73%

75%

77%

Compliant engagements withimmaterial findings*

21%

19%

17%

Total compliant
engagements

94%

94%

94%

Deficient engagements**

6%

6%

6%

Internal inspection of
all audits

2017

2018

2019

Compliant engagements

71%

72%

75%

Compliant engagements withimmaterial findings*

21%

21%

19%

Total compliant engagements

92%

93%

94%

Deficient engagements**

8%

7%

6%

* Such findings may result in the need for additional audit procedures ordocumentation. However, given their nature, these matters would not be
expected to have a significant impact to the overall audit conclusion.
** Findings in procedures or documentation that are material to thefinancial statements or auditor’s reports, or were not performed inaccordance with EY policies.

			27 | EY Global Review 2020

An essential way in which EY manages risks and serve
the public interest is to work continuously to improve thequality of all EY services. This includes and goes beyond
the SAQ program.
Across the service lines, there is investment in recruiting,training and retaining highly qualified people in theirrespective disciplines. There is also investment in strong
Quality functions and Professional Practice functions
across geographies to advise, support and enable
EY people, and to implement quality initiatives to aconsistently high standard around the world.
These functions advise on client engagements in realtime, and operate EY global quality review program, which
evaluates engagements for quality as well as compliancewith EY policies and professional standards. Findings
from the quality review program are reported to the Risk
Management function and the Global Executive.
Quality is a fundamental strategic objective for the entire
EY organization — it’s embedded as one of the six global
performance metrics for all partners across all EY services
and member firms. We regularly meet with regulators andstandard-setters across the world to discuss EY business,
emerging trends and opportunities to advance the qualityof the audit profession, and EY auditors’ role in it.

Human rights and labor
All EY services play an important role in serving the public
interest, promoting transparency, managing regulatory
responsibilities and supporting investor confidence andlong-term, sustainable economic growth.
Specifically, EY Sustainability and supply chain advisory
teams help organizations respond to modern slavery andhuman rights risks wherever they operate. Services such
as EY Forensic & Integrity Services also use the latest
developments in machine learning, natural language
processing and robotic process automation to help
clients detect and investigate instances of fraud, misuse,corruption and other forms of noncompliance.
EY reports — such as the Global Integrity Report 2020 —give valuable insights on the risks relating to businessethics, personal conduct, third-party management anddata integrity and how to tackle them.
Internally, the EY Global Code of Conduct is a clear set ofstandards for business conduct and applies to everyone
at EY, regardless of individual role, position or practice. It
reflects our culture based on the EY values and purpose.
EY cannot and will not tolerate behavior that is in violationof its professional standards or inconsistent with the EY
Global Code of Conduct. Examples of such behaviors
include discrimination, unethical practices, financial
misconduct, deliberately jeopardizing quality of work or
failing to adhere to EY policies.
The Code was recently revised to reflect advancements
in technology and how we use them, to reinforce theimportance of upholding the Code, and to update
the resources available to EY people to support
decision-making.
At EY we also recognize that our commitment to the UNGC
Ten Principles and to advancing the SDGs extends to the
suppliers we work with.

Operating responsibly

Adhering to the highest ethical standards
EY strives to adhere to the highest ethical standards,
including in relation to protecting human rights, upholding
international labor standards, protecting the environment,
and opposing bribery and corruption in all its forms. We
are committed to integrating the United Nations Global
Compact (UNGC) Ten Principles and the UN Sustainable
Development Goals (SDGs) into EY strategy, culture
and operations.

EY Global Review 2020 | 28

Just as the EY Global Code of Conduct sets out thestandards of ethical behavior expected of every EY person,
the EY Supplier Code of Conduct does the same for
EY suppliers.
The EY Global Supplier Code of Conduct outlines
expectations around issues including human rights,
modern slavery and child labor, and suppliers are asked toverify their adherence and standards at the RFP stage (andreaffirming at the time of contract execution).

In addition to this, to monitor supplier performance a
Supplier Portal provides EY procurement professionals
with enhanced visibility of the capabilities of current andpotential suppliers, including in relation to social andenvironmental policies, practices and certifications.
The EY Climate Change and Sustainability Services(CCaSS) team has developed an Environmental, Socialand Governance Risk Tool that provides an indicatedrisk across elements of sustainability including modern
slavery and child labor for sub-categories of Procurement
and suppliers. This is used to understand the level of due
diligence that should be applied to a supplier and will be
used to influence the questions asked of them. CCaSS is
also using this data-driven tool to build the EY ‘Sustainable
Sourcing Framework’, which will act as a practicalsustainable sourcing guide for Procurement.
Suppliers complete a self-assessment questionnaire
containing questions that cover their environmental, socialand governance policies and projects; modern slavery;
if they are ISO 14001 certified; and if they monitor
standards in their supply chain.
In addition to our focus on supplier due diligence,
Procurement, Global Corporate Responsibility and Climate
Change and Sustainability Services collaborate on a Human
Rights and Modern Slavery Working Group to enhance
EY’s work in this space. The group’s remit includes thedevelopment of modern slavery KPIs.
EY Procurement teams are proactive in furthering socialand environmental sustainability in the supply chain
and have a dedicated Environmental Social Governance
Services (ESGS) team that runs a cross-category
Sustainability Network and Inclusiveness Network.
EY’s commitment to promoting the principles ofinclusiveness, sustainability and responsibility also
extends beyond our own organization to include the EY
supply chain.
We actively encourage small and diverse owned
businesses to become registered suppliers, through ourEnvironmental Social Governance Services portal. Working
with advocacy organizations, EY provided over 17,161
hours of learning for 3,700 diverse supplier attendees in2020 year-to-date to help them scale.

Environmental sustainability
Protecting and regenerating the environment is an
important issue for all EY stakeholders and essential tosustaining long-term value creation. That’s why we’re
proud to be the first global multi-disciplinary professional
services organization to commit to carbon neutrality. While
we continue to make our most valuable contribution asa leading provider of climate change and sustainability
services to clients, the commitment to becoming carbon
neutral by the end of 2020 is an important milestone in
our own sustainability journey.
Managing our own footprint
As an organization that spans more than 150 countries,
each with varying climate-related challenges andopportunities, achieving carbon neutrality requires a clear
strategic framework. EY focuses on four interconnected
pathways: reducing organic emissions, investing in
carbon reduction and sequestration projects, purchasing
renewable energy, and offsetting what cannot otherwise
be avoided.
The urgency of the climate crisis and the need to negate
negative impacts as quickly as possible means that theuse of offsets is inevitable in the short term. However, EY
is committed to pursuing organic and systemic emissions
reductions that can reduce our reliance on offsets overtime, as well as making sure that any offsets we dopurchase meet high standards.
In terms of organic reductions, our global carbon footprintshows that progress continues to be made. For example,
as well as maintaining the downward trend in emissions
from office energy consumption, an increasing proportionof that energy is also coming from renewables. This is a
result not only of purchasing renewable electricity, butalso supporting development of local renewable energy
markets, such as through a Virtual Power Purchase
Agreement (VPPA) in the US.
Emissions from business travel have also reduced
sharply – by 34% vs. FY19 – leading to a similarly
significant reduction in overall footprint and emissions per
employee. Clearly this is largely due to COVID-19 travel
restrictions. However, having illustrated a capacity toprovide exceptional client service, even in the face of theselimitations, EY is committed to seizing this opportunity
to rethink service provision so that air travel does notrebound to pre-pandemic levels.

			

29 | EY Global Review 2020

Also in FY20, EY completed a WRI Aqueduct water risk
assessment across 32 countries, representing 83% of the
global organization. Of that sample, 65 offices, or 39%
of the total, were deemed to be in high or extremely highwater risks areas. The most prevalent risks identified werebaseline water stress, untreated connected wastewater,
and limited sanitation services. As a result of theassessment, 19 potential water management actions wereidentified for implementation. EY teams are currently
implementing a management system that will help enablein subsequent years the reporting of mega liters of water
withdrawn, mega liters of water consumed, and thepercentage of each in regions with high or extremely highbaseline water stress.
Helping EY clients become more sustainable
Alongside efforts to reduce our own footprint, EY Climate
Change and Sustainability Services (CCaSS) teams
continue to help organizations assess, respond to, andmeasure and report on the most significant resource andenvironmental challenges they face.
In particular, CCaSS teams have assisted clients in theareas of climate risk and adaptation, the circular economy,
renewable energy, and water and waste management.
Building on the legacy of the Embankment Project for
Inclusive Capitalism (EPIC) report, which identified thevalue drivers important for sustainable and inclusive
growth, CCaSS also continue to play a vital role in helping
clients to generate and measure long-term value.
Additionally, EY continues to contribute to the broader
sustainability dialogue, including sharing global viewpoints
on why COVID-19 could boost ESG performance andstakeholder capitalism, and how the EU Green Dealmight redefine sustainable growth globally, acceleratingtransition toward a circular economy.

Anti-corruption
EY is committed to the fight against corruption in all forms
and to affirm this has established a Global Anti-Bribery& Corruption policy accompanied by an anti-corruption
compliance program. Integral to the program is training,
and all EY member firm partners and employees are
required to complete anti-bribery training. In line with
EY’s commitment to a culture of compliance, including
playing its role within the profession to combat corruption
and other forms of financial crime, EY continues totake a seat at the World Economic Forum’s Partnering
Against Corruption Initiative (PACI) and has recently
been appointed as the knowledge partner to the B20’s
Transparency and Anti-Corruption working group.
EY Global Review 2020 | 30

A steadfast commitment to tackling corruption is not only
embedded in our policies and practices but also in theservices we offer EY clients.
For example, EY Assurance teams help clients strengthen
their integrity and compliance frameworks; throughout
EY we have invested in analytics solutions to help clientsquickly sift millions of lines of data in order to highlightanomalies. And EY blockchain solutions help transfer data,
currency and other assets in an efficient, trustworthy,transparent and secure way.

Risk Management
Internally, EY risk management teams work across theorganization to help identify, monitor and manage risk,
and enable EY professionals to meet their complianceobligations efficiently and effectively.
They also give EY people the processes, tools andknowledge to take on the right opportunities; pull together
the right teams; and offer EY clients the broadest rangeof services, in accordance with EY’s commitment toobjectivity and independence.
Risk management underpins sustainable businesspractices and relationships and ultimately helps clients
innovate and build value and trust with their stakeholders
through EY services.
An important element of risk mitigation and managementin EY is data protection and information security
framework. We protect information assets, personal dataand client information, through their creation, transmission
and storage, in accordance with the requirement ofapplicable laws, regulations and professional standards.
Independence is also an integral part of the EY Global Codeof Conduct. Each of us is responsible for our own personal
independence and the independence of EY. We are mindfulof our own personal financial interests and EY relationships
with clients.

Amplifying our social impact throughEY Ripples
EY people help create long-term value by using our
experience, services and influence to help solve someof the world’s toughest challenges, which have been
particularly heightened this year. COVID-19 threatens
to push more than one billion people into poverty, andmillions of people have had their education, or theircareers put on hold. We are committed to harnessing
EY’s knowledge and convening power to help people
everywhere rebuild and reset.
The EY Corporate Responsibility program, EY Ripples,is anchored in a long-term goal to positively impact one
billion lives by 2030, by focusing the skills and experienceof thousands of EY employees in three areas:• Supporting the next generation workforce: supporting
young and underserved people to develop themindsets and skills they’ll need to find and sustain
meaningful work.
• Working with impact entrepreneurs: helping scale
small and growing businesses that purposefully drive
progress toward the SDGs.
• Accelerating environmental sustainability: driving
adoption of behaviors, technologies and businessmodels that protect and regenerate the environment
while unlocking economic opportunity.

Supporting the next
generation workforce

Developing the mindsets and skills to thrive in the
future of work
With education systems disrupted by COVID-19, supporting
the next generation has never been more important. While
our focus has remained constant — helping young andunderserved groups to develop the mindsets and skills
needed to adapt and thrive in the future of work — theemphasis this year shifted toward scaling virtual learning.
This year this included:• Supporting almost 5,000 students across 10
countries through in-person and virtual provision of
EY Future Skills workshops spanning topics such asenvironmental literacy, emerging technology, financial
literacy and entrepreneurship.
• Providing virtual workshops on technology skills to
support Junior Achievement (JA) students in Italy, as
well helping JA Central Ontario to develop a suite offree digital programs on financial literacy, work
readiness and entrepreneurship that young people canaccess from home.
• Entering into a new collaboration with 100mentors,
whereby EY mentors enhance students’ learning by
providing 100-second personalized video answers totheir questions on economics, business management
and the future of work via a mobile app.
• EY leadership in South Africa taking a compensation
reduction to help fund laptops and tuition in maths,
accounting, science and English for EY NextGen learners
so they don’t fall behind.

			

31 | EY Global Review 2020

Helping Australian students turnchallenges into opportunities
The Australian Business and Community Network (ABCN) is
a nonprofit organization dedicated to working collaboratively
with businesses and schools to improve the educational andcareer outcomes of underserved young Australians. As oneof more than 40 member businesses, the EY member firm inAustralia supports multiple mentoring programs, designed
to help students develop critical skills.
Among them is Future Thinkers – one of ABCN’s newest
programs, developed with EY support. Based around theprinciples of design thinking, the program focuses on
fostering students’ innovation and problem-solving skills
as they work with mentors to practice turning challenges
into opportunities.
Following a successful pilot in 2018, the program has since
been rolled out across the country and has proven a hit
with students. With COVID lockdowns potentially denying
students the opportunity to benefit from this interactive,
collaborative and fun approach, an EY team worked with
ABCN to virtualize the program.
Rose Downie, Rey Takeshima and Tamarin Carter – allConsulting Seniors from EY Australia – drew on theirexperience of running human-centered design sessions
virtually to advise ABCN on how they could do it
effectively, particularly managing participant engagement
and input. Tamarin and Rose then ran a specializedcoaching session for ABCN’s Digital Transformation team todemonstrate the interactive collaborative tool, Mural, andshare how this could be employed to build engagement.
“I am always drawn to the opportunity to work with
ABCN, as their work has such an immediate and obvious
benefits for young people, especially those experiencing
disadvantage,” says Rose. “’Future thinking’ skills areneeded now more than ever and it’s been great to help
ABCN continue to provide such an impactful program.”“EY was instrumental in supporting us to develop anddeliver our face-to-face design thinking workshop, so it was
fantastic to tap into their expertise again when it came toreimagining the program in a digital format,” says ABCN’s
Program Development Manager, Peta Magick. “Rose, Rey
and Tamarin were all very generous with their time andtalent. We’re so grateful to able to call on EY’s digital experts
to support us with our ambitious program transformation!”
Learn more about how EY supports the next
generation workforce

EY Global Review 2020 | 32

As featured in the joint report with the Toilet Board
Coalition, Make way for the future of sanitation(pdf), 3S is repurposing old city buses as sanitation
kiosks, complete with toilets, shower cubicles,
diaper changing stations and sanitary pad vending
machines. These provide a safe, clean and familiar
sanitation experience for low-income urban women in
Pune, India. Photo courtesy of 3S.

Working with impact entrepreneurs
Tailored skills, development and coaching

Impact entrepreneurs deliver essential services tocommunities. In our work with them this year we continue
to provide wide-ranging support, whether that’s tacklingthe challenges of business resiliency and continuity, market
changes, cash and risk management, or tailored skills
development and coaching.
This year we pivoted to virtual support where necessary
and improving access to digital tools specifically designed
to help these impact enterprises not just survive thepandemic but emerge stronger. This year this included:• Supporting Jeeon — an impact enterprise whose efforts
to digitally connect pharmacies to training, technology,
products and services has been pivotal to the COVID-19
response in Bangladesh — with financial modeling andbusiness planning.
• Providing virtual group and one-to-one sessions on theEY 7 Drivers of Growth for entrepreneurs on the Social
Impact Hub’s ‘Scaling impact’ accelerator programin Australia.
• Publishing a joint study with the Toilet Board Coalitionon the potential for innovative business models
to accelerate development of a multi-billion-dollar
sanitation economy — one that safely captures, treats
and transforms waste into valuable resources.

• Making the EY Finance Navigator tool available to small
and growing enterprises free of charge, to help thembetter manage their finances and cash flow.
• Developing and sharing toolkits to support
COVID-19 enterprise resilience, including throughcollaboration with Unilever and the UK Department forInternational Development on the TRANSFORM “Survive
and Thrive” platform.

Helping Jeeon improve access toquality health care in Bangladesh
Pharmacies account for two-thirds of healthcare visitsand expenditures in Bangladesh, yet access to a reliable
pharmacy remains a huge challenge for more than 100m
people in rural communities.
Through its JeeonConnect digital platform, Jeeon alreadyconnects a network of more than 2,000 micro-pharmacies
to training, technologies, products and services to help
grow their businesses and support quality health careprovision for 4m underserved patients.
With a vision of extending digital connectivity to every
pharmacy and informal drug store in Bangladesh by2021, Benjamin Rojsuontikul, an EY manager from theUS, was engaged to help Jeeon strengthen its financial
and operational modeling, and develop a business planfor scale — a project that only gained in significance, as
COVID-19 struck.
Recognizing the risk of pharmacies becoming transmission
super-nodes, Jeeon swiftly repurposed half its teamto COVID-19 response efforts, including helping thegovernment to build a symptom checker and national casesurveillance system, as well as embedding the symptom
checker in its e-commerce app to help and encourage
pharmacists to test risk of exposure before physicallyinteracting with patients.

“This good karma won’t go to waste and nor will Benjamin’s
work,” he adds. “It’s given us a better understandingof what we need to do to achieve profitability, a morecompelling value proposition to share with our supporters,
and a clear plan for scaling our services and impact.”
Benjamin is equally appreciative of the opportunity to haveworked with Rubayat and Jeeon, albeit only having thechance to spend two weeks on the ground in Bangladesh
before returning home to complete the project virtually.
“Working virtually on a project like this isn’t without its
challenges, but the rewards of helping a business like
Jeeon are so much greater,” he says. “It’s an honor anda privilege to work with someone like Rubayat. Not onlyis he incredibly smart, his optimism is infectious, and theexperience has left me with a renewed sense of hope thatbusiness can be part of helping solve some of the world’s
toughest challenges.”
Learn more about how EY supports impact entrepreneurs

Community investment
Community investment

FY18

FY19

FY20

Hours invested by EY
people (000s)

739

745

790

Value of time contributions(US$m)

51

48

52

Cash investments (US$m)

61

64

74

Total (US$m)

112

113

126

While the pandemic may have curtailed immediate plans to
expand its pharmacy network, Jeeon CEO, Rubayat Khan,
remains optimistic about the future. “The way we’ve risen
to meet the needs of the moment, I feel we’re fulfilling
the promises we made to ourselves and our supporters,”
he says. “I’ve no doubt the strong bonds and camaraderie
we’ve forged during this time will persist and yield longterm results for our business.”			33 | EY Global Review 2020

Accelerating environmental
sustainability

Protecting and regenerating the environment
In addition to EY’s own sustainability efforts, through EY
Ripples we continue to develop new ways to empower EY
people to make more sustainable choices, and, channel
their skills and knowledge towards projects that not only
protect and regenerate the environment, but also unlock
the economic opportunities inherent in a net positive,
circular economy. This year this included:• Supporting Earthwatch with virtual secondments
centered on financial and cash flow forecasting, andhuman resources strategy and planning. These projects
have helped Earthwatch improve resilience: not only
helping it weather disruption to operations andrevenue, but also to prepare to rebound strongly fromthe pandemic.

Greenhouse gas emissions*• Helping Engineers Without Borders (Norway) to optimize
an innovative approach to winterizing refugee camps
in Turkey, using ‘Polyfloss’ technology — refugees
can manufacture their own insulation materials fromwaste thermoplastics, thereby tackling the ‘triple
threat’ of poor protection against harsh winters, poor
opportunities for productive employment, and a living
environment rife with plastic waste.
• Continuing to expand the ‘eco-innovator’ network — agrassroots network of EY people dedicated to sharing
ideas and leading practices for tackling the climate
crisis. This includes running regular events to educate,
inform and inspire EY people with practical tips forsustainable living.
• Launching an EY Badge on climate change andsustainability to further all EY people’s understandingof the climate crisis, the impact of climate change on
EY clients and sectors, and how individual and collective
action can make a difference.
FY18

FY19

FY20

1,095,000

1,119,000

769,000

4.3

4.0

2.6

Scope 1/2 GHG protocol (tCO2e)

178,000

167,000

141,000

Scope 3 GHG protocol (tCO2e)

917,000

952,000

628,000

Emissions per dollar of revenue (kgCO2e/US$000)

0.03140.03070.0207

Total emissions (tCO2e)
Emissions per employee (tCO2e/FTE)*This carbon footprint is calculated in line with the EY global carbon footprint methodology. This is based on the Greenhouse Gas (GHG) Protocol
developed by the World Resources Institute (WRI) and World Business Council for Sustainable Development (WBCSD), using its “location-based” approachto reporting.
Emissions calculations use 2020 conversion factors published by the UK Department for Business, Energy & Industrial Strategy or locally publishedfactors where appropriate. Conversion factors used to calculate emissions from air travel include the impact of “radiative forcing.”
In 2019, the methodology for calculating air travel emissions was updated to provide more accurate classification of domestic, short and long-haul
flights, based on distance travelled. As different emissions factors apply to different haul types, the reclassification of flights has contributed to adecrease in Scope 3 emissions. For year-on-year comparison purposes, FY18 figures have been restated using the same methodology.
Emissions from air travel are estimated using distance data that represents 90% of global spend on air travel. Emissions from office energy consumption
are estimated using activity data representing 70% of the global office portfolio.

EY Global Review 2020 | 34

Helping Earthwatch remain resilient
during the pandemic
Since its founding in 1971, Earthwatch has been taking
action to address climate change through citizen scienceand community engagement. By pairing volunteers
from all sectors of society with researchers around theworld, Earthwatch teams have helped to safeguard
critical habitats, conserve biodiversity and promote thesustainable use of natural resources.
EY has been collaborating with Earthwatch for more thana decade through EY-Earthwatch Ambassadors, a programin the US that sends high-performing, early-career
professionals on week-long expeditions to Mexico or Peru
to engage in field research and provide pro-bono services
to local entrepreneurs.
With those expeditions on hold because of the COVID-19
pandemic, EY pivoted its support to help Earthwatch
respond to its own challenges. With operations andrevenues severely disrupted by the pandemic, two projects
have helped Earthwatch work through multiple scenariosand strategies, not only to weather the immediate storm,
but also to rebound strongly on the other side.
One, undertaken by Ruby Zhou, an Advisory Manager
from the US, was to help develop a COVID-19 cash flow
forecasting model, including three economy reopening
scenarios to assist Earthwatch executives in understanding

the liquidity constraints from COVID-19 travel restrictions
and relief from federal financial aid packages. The
other, carried out by Christine Sciarrino, an Executive
Recruiter from the Americas Talent team, was to help
the organization navigate complex decisions around HR
strategy and planning.
“Ruby provided us with a flexible tool, which we will use on
an ongoing basis to manage cash through the COVID-19
crisis,” says Larry Staub, Controller at Earthwatch. “Shequickly assessed our needs and I was really impressed by
how easy she was to work with, especially considering ouroffice was closed and we were working entirely via Zoom
and email.”“It’s hard to see how I would have made it through thesechallenging times without Christine’s help,” adds Directorof Operations, Stacey Monty. “We’ve been able to makebetter decisions, thanks to her help in researching different
staffing options, and she’s also provided great support
in updating our HR policies, and creating educational
resources and tools for our people.”“The urge to make myself useful during this challenging
time was absolutely what drew me to this project,” says
Christine. “To be part of coming up with creative solutions
that help Earthwatch take the least painful path feels
incredibly rewarding.”
Learn more about EY-Earthwatch Ambassadors			

35 | EY Global Review 2020

Impacting a billion lives for the better
Measuring our impact

Last year EY announced the bold ambition to positively
impact the lives of 250m people by 2025 and 1b people by2030. In keeping with that goal, and the ability to reliably
measure progress toward it, we are moving from inputbased metrics to an outcomes-based measure of social
impact initiatives.
While we will continue to report community investment
figures using metrics such as hours invested incommunity volunteering, and the monetary value of thosecontributions, these metrics don’t speak to the impact
those endeavors create. Therefore, we are now reportingon ‘lives impacted’ based on a rigorous methodology
developed over the past year.
‘Lives impacted’ figures encompass evaluation of both
direct and indirect beneficiaries of EY Ripples initiatives –for example, both the leaders of impact enterprises and thecustomer base they serve – and are weighted according to
the depth and breadth of impact that can be attributed to
EY support. The impact of each initiative is also mapped tothe most relevant SDG, based on ultimate impact.
Since the inception of our social impact programs working
with impact entrepreneurs and supporting the next
generation, we have positively impacted more than 34
million people, including over 15 million people in FY20.
Achieving our ambition requires innovation andcollaboration at scale across the public, private and nonprofit sectors. While we recognize we still have a long way
to go to achieve our 2025 and 2030 impact targets, wehave made strong progress over a short period of time andthese figures show that we are on track.
SDG

Lives Impacted

SDG 8: Decent Work and Economic
Growth8,998,329

SDG 5: Gender Equality

1,649,507

SDG 7: Affordable and Clean Energy

1,594,374

SDG 17: Partnerships for the Goals

1,146,688

SDG 1: No Poverty

779,617

Other

1,350,942

Total

15,519,458

EY Global Review 2020 | 36

04
EY facts
and figures			

37 | EY Global Review 2020

In 2017 EY worked on an initiative called The Embankment
Project for Inclusive Capitalism. The aim was to help companies
show how they create value for a full range of stakeholders:
employees, supply chains, communities and society at large,
as well as their shareholders.
The resulting EY long-term value framework — built on four value
dimensions: human/people value; consumer/client value; social value;and financial value — is how we have aligned the elements of our
NextWave ambition.
More recently EY also contributed to a collaborative effort convened
by The World Economic Forum’s International Business Council (IBC).
This initiative brought together 120 CEOs of the world’s largest
companies, to agree on a core set of metrics to help standardize
disclosures around ESG and long-term value creation.
The initiative was designed to bring a collective, private sector
voice to the importance of ESG disclosure and a way forward thatwould contribute to bringing consistency and comparability to theseimportant emerging drivers of value. The proposed disclosuresconsider a company’s impact along four pillars aligned with the UN’s
Sustainable Development Goals: planet, people, prosperity, andprinciples of governance.
In this Annual Review we therefore begin to measure ourselves
against the metrics as defined in the World Economic Forum IBC
proposal, and, have set out how our purpose and ambition is alignedwith the UN Global Compact’s Ten Principles and the UN Sustainable
Development Goals.

EY Global Review 2020 | 38

PeopleWe support EY people to build their own
exceptional experiences that are as unique as
they are.

We track EY people’s perceptions and experiences of EY through our Global People Survey. At EY we think of‘engagement’ as a combination of factors — pride, advocacy, commitment and satisfaction — and combine these into an‘engagement index’.
Global People Survey results

FY17

FY18

FY19

Total participants

193,000

203,000

216,586%age of headcount

81%

82%

81%

Overall engagement

73%

73%

73%

Would recommend EY

74%

73%

75%

Satisfied with EY

68%

67%

69%

Committed to EY

67%

67%

63%

Proud to work for EY

84%

84%

82%

We monitor our ‘attractiveness’ through a range of external benchmarks such as Universum’s World’s Most Attractive
Employer (amongst business students and science/engineering students) and the Great Place to Work (GPTW) Institute.
Universum WMAE ranking - business students

2017

2018

2019

Among Big Four

1

1

1

Overall

4

3

2

2017

2018

2019

Among Big Four

2

2

2

Overall

49

37

43

2017

2018

2019

17

19

7

FY18

FY19

FY20

1,831,174

2,227,404

1,985,000

62,40569,69876,720

Universum WMAE ranking - science/engineering students

GPTW institute - 25 best multinational workplaces
OverallGlobal recruits and applicants
Job applicants
Hiring — client service			

39 | EY Global Review 2020

Attrition rate - overall and by gender

FY18

FY19

FY20

Women

21.2%

20.4%

17.6%

Men

20.9%

21.0%

18.8%

Overall

21.0%

20.7%

18.2%

We provide the support, experiences, skills and opportunities for people to build their career at EY and beyond.
Promotions

FY18

FY19

FY20

33,88841,33643,800

Promotions to partner

747

758

600

% of women among new partners

29%

28%

33%

% of promoted partners from Emerging Markets

32%

35%

37%

Formal learning

FY18

FY19

FY20

Learning hours delivered

13m

14m

16m

Learning hours per person

51

54

54

$500m

$530m

$450m*

Total promotions

Total investment in training (US$m)*FY20 spend in training decreased from FY19 because of a reduction in travel when classes were cancelled mid-year due to COVID-19.

An important part of our diversity and inclusiveness agenda is related to the advancement of women, and on a global basis
gender balance is the most straightforward to measure and report.
2018

2019

2020

Leadership groups
by gender

Total

Women/men

Total

Women/men

Total

Women/men

Global Executive

19

26%/74%16

31%/69%18

33%/67%

Global Practice Group

122

22%/78%116

24%/76%112

27%/73%Global Governance Council

39

33%/67%

41

25%/75%

40

28%/72%Global Client Service
Partner*301

12%/88%300

13%/87%298

13%/87%* Lead client service coordinators on the largest EY clients across the globe

EY Global Review 2020 | 40

Partners/Principals/Exec
Directors/Directors bygender

2018

2019

2020

Total

Women/men

Total

Women/men

Total

Women/men

Ptrs/Principals

11,87020%/80%12,30921%/79%12,496

22%/78%

Ptrs/Principals/Exec
Directors/Directors

18,093

24%/76%

18,86825%/75%

19,663

26%/74%

Total people

261,559

48%/52%

284,018

48%/52%298,96548%/52%

Collectively the EY organization is a major global employer, providing stable, high-quality jobs to a combined number ofmore than 298,000 people in more than 150 countries – helping more clients, in more places, than ever before.
People by Service
Line

FY17 vs FY18

FY18

FY18 vs FY19FY19

FY19 vs FY20FY20Assurance

2.6%

88,8496.0%

94,2205.3%

99,239Advisory

11.7%

59,79412.8%

67,477

6.3%

71,748Tax

7.3%

53,008

12.4%

59,577

6.6%

63,484TAS

11.7%

15,246

14.5%

17,461

7.2%

18,721

Practice support

0.5%

44,662

1.4%

45,283

1.1%

45,773

Total

5.7%

261,559

8.6%

284,018

5.3%

298,965* On 1 July 2020 Advisory changed its name to Consulting, and TAS (Transaction Advisory Services) changed its name to SaT (Strategy andTransactions).
The FY18 June headcount includes a reclassification of 1,208 people who have been reclassified from Practice Support to Tax SL. This enables a more
like v like comparison to FY19, as the equivalent headcount for June FY19 is also classified in Tax SL. Equivalent reclassification from Practice Support
to Tax is also reflected in the table above for FY17.

People by Area

FY17 vs FY18

FY18

FY18 vs FY19FY19

FY19 vs FY20FY20Americas4.9%

70,341

6.8%

75,1171.1%

75,951Asia-Pacific*

3.6%

51,546

9.1%

56,253

4.8%

58,960

EMEIA

5.9%

106,775

7.0%

114,266

2.7%

117,306

GDS** - Client
Service

15.7%

18,79321.9%

22,91441.6%

32,446

GDS - Enablement

2.7%

7,397

21.5%

8,988

-18.2%

7,354

Exec services andfunctions

3.6%

6,707

-3.4%

6,480

7.2%

6,948

Total

5.7%

261,559

8.6%

284,018

5.3%

298,965* Japan joined the Asia-Pacific Area on 1 July 2019. We have therefore combined Asia-Pacific with Japan for the current year, as well as for prior years.
** Global Delivery Services (GDS) is the EY internal shared services organization, consisting of legal entities ultimately owned by a number of EY member
firms. GDS entities support EY member firms across the world by providing support capabilities to their client-serving account teams as well as internal
enablement support services.

			

41 | EY Global Review 2020

Clients
We bring the whole of the EY organization tomeet EY clients’ needs. Today there are more
EY clients across more markets and industries
than ever before.

Fortune Global 500 - percentage of companies in index served

FY18

FY19

FY20

Audit client

21%

23%

23%

Non-audit client

61%

61%

61%

All other companies

18%

16%

16%

Total

100%

100%

100%

Forbes Global 2000 - percentage of companies in index served

FY18

FY19

FY20

Audit client

26%

27%

27%

Non-audit client

44%

45%

46%

All other companies

30%

28%

27%

Total

100%

100%

100%

EY audit market share of IPOs (global)

2018

2019

2020

EY ranking by deal numbers

1

1

1

EY ranking by proceeds

3

4

3

Our Global Brand Survey tracks our ambition to be the #1 brand among professional services organizations as measured
by favorability and distinctiveness across clients and non-clients.
Brand favorability

2015

2017

2019

EY global ranking

2

Tied 1

Tied 1Best brand in EY Regions7

12 (25% of 28
Regions)

9 (38% of 24
Regions)

EY Global Review 2020 | 42

Society
We are committed to building trust in thecapital markets and having a positive impact oncommunities and the planet.

Under our ambition to create long-term for society we measure the trust and confidence we are building among
stakeholders, including regulators.
Internal inspection results of audits in IFIAR-regulated countries

2017

2018

2019

Compliant engagements

73%

75%

77%

Compliant engagements with immaterial findings*

21%

19%

17%

Total compliant engagements

94%

94%

94%

Deficient engagements**

6%

6%

6%

Internal inspection of all audits

2018

2019

2020

Compliant engagements

71%

72%

75%

Compliant engagements with immaterial findings*

21%

21%

19%

Total compliant engagements

92%

93%

94%

Deficient engagements**

8%

7%

6%

* Such findings may result in the need for additional audit procedures or documentation. However, given their nature, these matters would not be
expected to have a significant impact to the overall audit conclusion.
** Findings in procedures or documentation that are material to the financial statements or auditor’s reports, or were not performed in accordance with
EY policies.

Under our ambition to create long-term for society we measure our community investment.
Community investment

FY18

FY19

FY20

Hours invested by EY people (000's)

739

745

790

Value of time contributions (US$m)

51

48

52

Cash investments (US$m)

61

64

74

Total (US$m)

112

113

126

			

43 | EY Global Review 2020

Under our ambition to create long-term for society we measure our environmental impact.
Greenhouse gas emissions*

FY18

FY19

FY20

1,095,000

1,119,000

769,000

4.3

4.0

2.6

Scope 1/2 GHG protocol (tCO2e)

178,000

167,000

141,000

Scope 3 GHG protocol (tCO2e)

917,000

952,000

628,000

Emissions per dollar of revenue (kgCO2e/US$000)

0.03140.03070.0207

Total emissions (tCO2e)
Emissions per employee (tCO2e/FTE)*This carbon footprint is calculated in line with the EY global carbon footprint methodology. This is based on the Greenhouse Gas (GHG) Protocol
developed by the World Resources Institute (WRI) and World Business Council for Sustainable Development (WBCSD), using its “location-based” approachto reporting.
Emissions calculations use 2020 conversion factors published by the UK Department for Business, Energy & Industrial Strategy or locally publishedfactors where appropriate. Conversion factors used to calculate emissions from air travel include the impact of “radiative forcing.”
In 2019, the methodology for calculating air travel emissions was updated to provide more accurate classification of domestic, short and long-haul
flights, based on distance travelled. As different emissions factors apply to different haul types, the reclassification of flights has contributed to adecrease in Scope 3 emissions. For year-on-year comparison purposes, FY18 figures have been restated using the same methodology.
Emissions from air travel are estimated using distance data that represents 90% of global spend on air travel. Emissions from office energy consumption
are estimated using activity data representing 70% of the global office portfolio.

EY Global Review 2020 | 44

Revenue andgrowthOur ability to achieve our ambition and fulfil our
purpose depends on our sustained and sustainablefinancial success. Our financial ambition is to be
the profession’s long-term growth leader and toadapt and find new ways to grow in our
ever-evolving landscape.
Revenue

Revenue by Service Line (US$b)

FY17 vs FY18

FY18

FY18 vs FY19FY19

FY19 vs FY20FY20Assurance

4.4%

12.6

4.4%

12.6

3.1%

12.8

Advisory

10.1%

9.6

9.2%

10.2

4.9%

10.5

Tax

6.4%

9.0

8.6%

9.5

5.1%

9.8

TAS

13.9%

3.6

15.5%

4.1

2.8%

4.1

Total

7.4%

34.8

8.0%

36.4

4.1%

37.2

* On 1 July 2020 Advisory changed its name to Consulting, and TAS (Transaction Advisory Services) changed its name to
SaT (Strategy and Transactions).

Revenue by Area (US$b)

FY17 vs FY18

FY18

FY18 vs FY19FY19

FY19 vs FY20FY20Americas

7.4%

15.6

8.5%

16.7

3.4%

17.2

Asia-Pacific*

8.8%

5.3

8.8%

5.5

8.2%

5.8

EMEIA

6.9%

13.9

7.1%

14.2

3.4%

14.2

Total

7.4%

34.8

8.0%

36.4

4.1%

37.2

*Japan joined the Asia-Pacific Area on 1 July 2019. We have therefore combined Asia-Pacific with Japan for the current year, as well as for prior years.

7-year CAGR
7.7%

The emerging markets play an important role at EY in driving revenue growth and innovation.
Revenue growth by market type

FY18

FY19

FY20

Emerging markets

10.0%

10.7%

6.0%

Developed markets

6.9%

7.4%

3.7%

Total

7.4%

8.0%

4.1%

Revenue from emerging markets (US$m)

FY18% of total

FY19% of total

FY20% of total

6,061

17.4%

6,239

17.1%

6,358

17.1%

			

45 | EY Global Review 2020

05
Leadership
team
EY Global Review 2020 | 46

The EY Global Executive is our highest body, focusing on strategy, execution
and operations. Its membership brings together all the elements of our globalorganization, including the leaders of our geographic Areas and service lines.
Carmine Di Sibio

Kelly Grier

Andy Baldwin

Patrick WinterSteve Krouskos

Julie Teigland

EY Global Chairman and Chief Executive Officer

EY Global Managing Partner — Client Service

EY Global Managing Partner — Business Enablement

Trent HenryEY Global Vice Chair — Talent

Jay Nibbe

EY Global Vice Chair — Markets

Marie-Laure Delarue

EY Global Vice Chair — Assurance

Errol Gardner

EY Global Vice Chair — Consulting

Kate Barton

EY Global Vice Chair — Tax

Andrea Guerzoni

EY Global Vice Chair —Strategy and Transactions (SaT)EY Global Review 2020 | 47

EY Americas Area Managing Partner

EY Asia-Pacific Area Managing Partner

EY EMEIA (Europe, Middle East, India and Africa) Area
Managing Partner

Alice Chan

Chair of the Global Accounts Committee

Rajiv Memani

Chair of the Emerging Markets Committee

Jack Chan

Emerging Market Committee Member

Nicola Morini Bianzino

EY Global Chief Client Technology Officer

Hank Prybylski

EY Global Vice Chair — Transformation

Jessie QinMember firm partner on rotation

			

EY Global Review 2020 | 47

Area and Regional Managing Partners
To be efficient and effective, we have organized EY legal entities into similarly-sized — in terms of both people andrevenues — business units called Regions. These Regions, led by Regional Managing Partners, are grouped into threegeographic Areas: Americas; EMEIA; and Asia-Pacific.
Americas
Kelly Grier
EY Americas Area Managing Partner

Frank Mahoney
USA — West

Ronen Barel
IsraelJulie Boland
USA — Central

Janet Truncale
Financial Services Organization

Manuel Solano
Latin America — North

Rich Jeanneret
USA — East

Jad Shimaly
CanadaTed Acosta
Latin America — South

Patrick Winter
EY Asia-Pacific Area Managing Partner

Jack Chan
Greater China

Yong Keun Park
Korea

Nam Soon Liew
Asean

Koichi Tsuji
Japan

Tony Johnson
Oceania

Marcel van Loo
Financial Services Organization

Abdulaziz Al-Sowailim
MENA

Ute Benzel
Germany, Switzerland, Austria

Jesper Almstrom
Nordics

Rajiv Memani
India

Hywel Ball
UK & Ireland

Massimo Antonelli
Mediterranean

Alain Perroux
Western Europe Maghreb

Asia-PacificGary Hwa
Financial Services Organization

EMEIA
Julie Teigland
EY EMEIA Area Managing Partner
Ajen Sita
AfricaJacek Kedzior
Central, Eastern and Southeastern
Europe & Central Asia

EY Global Review 2020 | 48

			EY Global Review 2020 | 48

Industries
Our sector focus means EY teams can help clients better anticipate market trends, identify the implications for theirbusinesses, and deliver sector-specific solutions. It is part of our commitment to exceptional client service. Shaun
Crawford, as EY Global Vice Chair — Industry, oversees the work that EY teams do across our industry sectors.
Shaun Crawford
EY Global Vice Chair — Industry

Greg Cudahy
Technology, Media & Telecoms

George Atalla
Smart Infrastructure

Serge Colle
EnergyKristina Rogers
Consumer

Andres Saenz
Private Equity

Randall J. Miller
Advanced Manufacturing & Mobility

Gary Hwa
Financial Services

Pamela Spence
Health Sciences & Wellness			

EY Global Review 2020 | 49

Global Governance Council
The Global Governance Council consists of senior client-serving partner-ranked professionals drawn from member firms
across EY and currently four (of possible six) independent non-executive members. These senior EY professionals whootherwise do not hold senior management roles, are elected by their peers. They advise EY on policies and strategies
and the approval of the Global Governance Council is required for a number of significant matters that affect theorganization as a whole.
Americas Regions
Latin America — South
Gustavo Rousseaux

Americas FSO
Udanda Clark
Laura Giovacco

East
Becky Carey
Gaurav Gupta

CanadaGlenn Parkinson

IsraelChen Shein

CentralMalcomb Coley
Andrew Lee

Latin America — North
Carlos Rochin

National Practices
Anan Roy
Barak Ravid

Greater China
Vincent Chan

Korea
Dong Chul Kim

Japan
Koji Fujima
Seiko Sugimoto

Oceania
Trent van Veen (Presiding Partner)

AfricaShailen Ramgoolam

India
Jayesh Sanghvi

CESA
Natalia Starygina

MedFrancisco Javier Sanchez Ramos

UK and Ireland
Alison Duncan
John Higgins

EMEIA FSOPaul Nijssen
Aidan Walsh

MENA
Yasmeen Muhtaseb

West
Beth Carr
Marney MacKenna

Asia-Pacific Regions
Asean
Susanti SusantiVincent Toong
Asia-Pacific FSO
Warrick Gard

EMEIA Regions

GSA
Ole Halfpap
Helen Pelzmann
Global Independent Non-Executives
CK Chow
Jurgen Kluge
Atsushi Saito
David Thorburn

EY Global Review 2020 | 50

Nordics
Bengt Nyholm

WEM
Marc Cosaert
Pierre Jouanne

AreasEY member firms are organized into Regions that are grouped into three geographic Areas: Americas; EMEIA;
and Asia-Pacific.
Americas
CanadaFinancial Services Organization
Bahamas, Bermuda,
British Virgin Islands,
Cayman Islands, United States
IsraelLatin America — North
Bolivia, Colombia, Costa Rica,
Dominican Republic, Ecuador,
El Salvador, Guatemala, Honduras,
Mexico, Nicaragua, Panama, Peru,
Venezuela
Latin America — South
Argentina, Brazil, Chile,
Paraguay, Uruguay

USA — Central
Aruba, Barbados, Jamaica,
Curacao, Puerto Rico, Saint Lucia,
Trinidad and Tobago
USA — East
USA — West

EMEIA
AfricaAngola, Botswana, Ghana, Kenya,
Madagascar, Malawi, Mauritius,
Mozambique, Namibia, Nigeria,
Rwanda, Seychelles, South Africa,
Tanzania, Uganda, Zambia, Zimbabwe
Central, Eastern and Southeastern
Europe & Central Asia
Albania, Armenia, Azerbaijan, Belarus,
Bosnia and Herzegovina, Bulgaria,
Croatia, Cyprus, Czech Republic,
Estonia, Georgia, Greece, Hungary,
Kazakhstan, Kosovo, Krygyz Republic,
Latvia, Lithuania, FYR of Macedonia,
Malta, Moldova, Montenegro, Poland,
Romania, Russia, Serbia, Slovakia,
Slovenia, Turkey, Ukraine, Uzbekistan

Financial Services Organization
Gibraltar
Germany, Switzerland & Austria
Austria, Germany,
Liechtenstein, Switzerland
India
Bangladesh, India
Mediterranean
Italy, Portugal, Spain
Middle East and North Africa
Afghanistan, Bahrain, Egypt, Iraq,
Jordan, Kuwait, Lebanon, Libya,
Oman, Pakistan, Palestinian Authority,
Qatar, Saudi Arabia, Syria, United ArabEmirates

Nordics
Denmark, Finland, Iceland,
Norway, Sweden
UK & Ireland
Republic of Ireland, United Kingdom
Western Europe Maghreb
Algeria, Belgium, Cameroon, Chad,
Congo, Democratic Republic of Congo,
Equatorial Guinea, France, Gabon,
Guinea, Ivory Coast, Luxembourg,
Monaco, Morocco, Senegal, The
Netherlands, Tunisia

Asia-Pacific
Asean
Brunei, Cambodia, Guam,
Indonesia, Laos, Malaysia, Maldives,
Myanmar, N. Mariana Islands,
Philippines, Singapore, Sri Lanka,
Thailand, Vietnam

Financial Services Organization

Japan

Greater China
Mainland China, Hong Kong, Macau,
Taiwan, Mongolia

Korea
Oceania
Australia, Fiji, New Zealand,
Papua New Guinea			

EY Global Review 2020 | 51

EY | Assurance | Tax | Strategy
Transactions
and |Transactions
Advisory | Consulting
About EY
EY is a global leader in assurance, tax, strategy, transaction andconsulting services. The insights and quality services we deliver help
build trust and confidence in the capital markets and in economies theworld over. We develop outstanding leaders who team to deliver on our
promises to all of our stakeholders. In so doing, we play a critical role inbuilding a better working world for our people, for our clients and forour communities.
EY refers to the global organization, and may refer to one or more, ofthe member firms of Ernst & Young Global Limited, each of which isa separate legal entity. Ernst & Young Global Limited, a UK company
limited by guarantee, does not provide services to clients. Information
about how EY collects and uses personal data and a description of therights individuals have under data protection legislation are available
via ey.com/privacy. For more information about our organization, please
visit ey.com.
© 2020 EYGM Limited.
All Rights Reserved.
EYG no. 006209-20Gbl
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this document has been printed on paper with a high recycled content.
This material has been prepared for general informational purposes only and is not intended
to be relied upon as accounting, tax or other professional advice. Please refer to youradvisors for specific advice.

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52 | EY Global Review 2020