Ernst & Young Competitivity

A Growing Demand for Accountants

In the modern business world, accounting is becoming increasingly popular. Through the recession and the crash of the job market over the last few years, accounting is one of the few professions that has held firm. Those who do not understand the field may wonder why, but the answer is simple: accounting is the universal language of business and is a requirement for every company in the country. No business in the United States can function without accounting, and any business of more than a few employees has at least one accountant, if not a whole team. Public accountants are involved in auditing and tax practices most predominantly, but many accountants work internally for companies, running costing systems, tracking purchases, and helping executives understand a corporation’s financial position. Accountants are in high demand, and in the current economy, this demand is only growing.

A Big Name in the Field

Ernst & Young is one of the biggest public accounting firms in the country. It is a part of what those in the business world call the Big Four, a term that describes the four biggest and most prestigious accounting firms in the world. Other members include Deloitte Touche Tohmatsu Limited, called Deloitte, PricewaterhouseCoopers, commonly known as PwC, and KPMG. All of these firms are internationally known and highly sought after for their services. Many accounting firms exist in the US but the Big Four are notable for their interest in largely employing only Certified Public Accountants, or CPAs, the highest accreditation in accounting and one of the most prestigious in business. To some, Ernst & Young is just another name on a list, but in actuality, the company is highly respected above its competition for its work in accounting and tax services.

Early History

Ernst & Young, like the other three members of the Big Four, was born out of company mergers. It started as Harding & Pullein in 1849 in England and, after many years of name changes and corporate reorganization, became the Ernst & Young we know today in 1989. It has the largest global presence of the Big Four and is managed by region rather than centrally, a strategy that has served the firm well. According to Forbes magazine in 2012, Ernst & Young is the best account firm for employee treatment and satisfaction, as well as being consistently ranked by many financial authorities, such as Fortune magazine, as one of the best companies in the world to work for.

An Excellent Reputation

While all Big Four firms are highly sought after for new accountants working toward a CPA, Ernst & Young’s reputation as both a prestigious and caring company sets it above its peers. Graduates from the best business schools in the country want a spot at Ernst & Young, making it one of the most exclusive and competitive employers. With a reputation for international excellence as well as for being a great place to work, accountants of all levels of education and career placement would love a chance to have a desk at Ernst & Young.

Accounting is a desirable career in today’s business world, but few firms can match the reputation of Ernst & Young. The other Big Four companies may try to keep up, but when it is all said and done, the high esteem that Ernst & Young holds, and its success in the industry, make it easily the most competitive, as well as the accounting firm with some of the highest reports of job satisfaction in the world.

[box_light]Byline
Keith Harrison writes on taxation, finance, business, banking and other related topics. To learn about complex tax issues, such as Sandy Tax Relief, visit R&G Brenner.[/box_light]