EY refers collectively to the global network of member firms of Ernst & Young Global Limited (EYG). EY’s central entity, EYG, coordinates the member firms and promotes cooperation among them. EYG does not provide services; its objectives include promoting the provision of exceptional, high-quality client service by its member firms worldwide. Each member firm is a legally distinct entity. The member firms’ obligations and responsibilities are governed by the regulations of EYG and various other agreements. In July 2013, EY streamlined its operating model by creating the Executive and the Regions. The Executive includes the Global Executive (GE), its committees and teams, and the leadership of four Areas. This streamlined structure allows EY to further enhance its global scale and delivery of consistent exceptional client service worldwide, with the Executive responsible for one global approach to strategy, quality, risk management, business planning, investments and priorities. At the same time, this operating model allows for greater stakeholder focus in the 28 Regions, permitting member firms to build stronger relationships with clients and others in each country and to be more responsive to local needs.
The GE brings together EY’s leadership functions, services and geographies. It is chaired by the Chairman and CEO of EYG and includes its Global Managing Partners of Client Service and Business Enablement; the Area Managing Partners; the global functional leadership for Talent and Finance; the leaders of the global service lines – Assurance, Advisory, Tax and Transaction Advisory Services; the Global Leader for Public Policy; and one EYG member firm partner on rotation. The GE also includes the Chair of the Global Accounts Committee and the Chair of the Emerging Markets Committee, as well as a representative from the emerging markets practices.
EY member firms are grouped into four geographic Areas: Americas, Asia- Pacific, EMEIA (Europe, Middle East, India and Africa) and Japan. The Areas comprise a number of Regions, which consist of member firms or section of those firms.
Global Governance Council and Independent non-executives
The Global Governance Council (GGC) is the main oversight body of EYG. It comprises one or more representatives from each Region, other member firm partners acting as representatives at-large, and six Independent Non-executives (INEs). The Regional representatives, who otherwise do not hold senior management roles, are elected by their Regional Partner Forums (RPFs) for a three-year term, with provisions for one successive re-appointment. The GGC advises EYG on policies, strategies and the public interest aspects of their decision-making. The approval of the GGC is required for a number of significant matters that could affect EY. Herman de Ruijter, chairman of our RPF, is a member of this council. INEs are appointed from outside EY and bring the global organization, and the GGC, the significant benefit of their varied perspectives and views.
The INEs also form a majority of the Public Interest Sub-Committee of the GGC, which addresses public interest matters including stakeholder dialogue. The INEs are nominated by a dedicated committee.
EY’s activities in the Netherlands are part of the EMEIA Area. The EMEIA Area consists of 99 countries divided into 11 geographical Regions and an EMEIA Financial Services Organization Region (EMEIA FSO), which facilitates all services provided to the financial sector in the EMEIA Area. Together with Belgium, the Netherlands forms the BeNe Region. This Region does not include the financial sectors in both countries, as these industry sectors are part of the EMEIA FSO Region. Dutch partners are allocated to either the BeNe Region or the EMEIA FSO Region.
Ernst & Young (EMEIA) Limited (EMEIA Limited), an English company limited by guarantee, is the principal coordinating entity for the EYG member firms in the EMEIA Area. EMEIA Limited facilitates the coordination of these member firms and cooperation between them, but it does not control them. EMEIA Limited is a member firm of EYG, has no financial operations and does not provide any professional services.
In Europe, a holding entity, Ernst & Young Europe LLP (EY Europe) was formed in conjunction with EMEIA Limited. EY Europe is an English limited liability partnership, owned by partners of the EYG member firms in Europe. It is an audit firm registered with the Institute of Chartered Accountants in England and Wales (ICAEW), but it does not carry out audits or provide any professional services. To the extent permitted by local legal and regulatory requirements, EY Europe has acquired or will acquire voting control of the EYG member firms in the European countries in the EMEIA Area.
EY Europe is a member firm of both EYG and EMEIA Limited.
Europe Operating Executive
The Europe Operating Executive (EOE) operates as the board of EY Europe. It has authority and accountability for strategy execution and management of EY Europe’s operations. The EOE comprises: the Europe Managing Partner; the leaders for Accounts, Talent and Risk Management; the service line leaders for Assurance, Advisory, Transaction Advisory Services and Tax; and all European Regional Managing Partners.
Europe Governance Sub-Committee
EY Europe has the Europe Governance Sub-Committee, which includes one representative from each Region in Europe. It serves in an advisory role to the EOE on policies, strategies and other matters, and its approval is required for a number of significant matters, e.g., the appointment of the Europe Managing Partner, approval of the financial reports of EY Europe and material transactions.
EY in the Netherlands
In the Netherlands, the two main EY entities are Ernst & Young Accountants LLP (including Assurance, Advisory and Transaction Advisory Services) and Ernst & Young Belastingadviseurs LLP (Tax). Both entities are owned by the private practice companies of EY’s partners in the Netherlands (’members’). The members of Ernst & Young Accountants LLP and Ernst & Young Belastingadviseurs LLP are also co-owners of Ernst & Young Nederland LLP.
Ernst & Young Accountants LLP is licensed by the Netherlands Authority for the Financial Markets to carry out statutory audits (including audits of public interest entities).
The EY network operates from 16 offices in the Netherlands and in 2015/2016 consisted of:
- Ernst & Young Nederland LLP
- Ernst & Young Accountants LLP
- Ernst & Young Belastingadviseurs LLP
- Ernst & Young Actuarissen B.V.
- Ernst & Young CertifyPoint B.V. – independent and impartial certification institute
- Ernst & Young VAT Rep B.V. – VAT representation services
- Ernst & Young Real Estate Advisory Services B.V. – real estate investment advisory and valuations
- Stichting Ernst & Young Foundation – supports sustainability and environmental initiatives by non-profit organizations
- Centre B.V. – provides Enterprise Performance Management (EPM) services
- CFORS B.V. – development of software solutions for banks and insurers, enabling them to comply with new reporting standards, such as Solvency II, CRD IV and IFRS 4
- Parthenon-EY B.V. - global strategy consulting
- Integrc Netherlands B.V. - advice regarding SAP systems specifically SAP GRC
- EY Intelligence in Information B.V.
- EY Montesquieu Finance B.V.
- EY Montesquieu Institutional Risk Management B.V.
Ernst & Young Nederland LLP coordinates and facilitates EY’s activities in the Netherlands, but does not provide services to external clients. The economic profits of Ernst & Young Accountants LLP and Ernst & Young Belastingadviseurs LLP are distributed to partners of Ernst & Young Nederland LLP.
Ernst & Young Europe LLP has no controlling interest in Ernst & Young Nederland LLP.