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July 7, 2010

E&Y to implement UK governance code globally

Ernst & Young (E&Y) has confirmed
plans to implement the UK Audit Firm Governance Code at the global
level as well as in the UK, including appointing independent

E&Y said all disclosures required by the
code will be included in its 2010 global transparency report, which
will be issued in September.

E&Y global chairman and chief executive
Jim Turley said implementing the governance code globally is
important because the organisation is globally integrated.

E&Y UK and Ireland managing partner Scott
Halliday said an important provision of the code concerns the
appointment of independent non-executives.

“We intend to make these appointments at a
global level and ask appointees to join our global advisory
council, our main governance body, which oversees strategic
decisions, important appointments and all public interest aspects
of our decision making,” Halliday explained.

Turley said including individuals from outside
E&Y on the global advisory council will bring the senior
leadership the benefit of significant outside perspectives and

E&Y said the independent non-executives
will be appointed in the near future.


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