Ernst & Young Fiscal Year 2006 Global Revenues Rise to US$18.4 billion.Double-digit growth fuelled by buoyancy in Asia and emerging markets LONDON -- Ernst & Young today announces that worldwide revenues increased to US$18.4 billion for the fiscal year ending 30 June 2006. This represents a year-on-year revenue increase of US$1.5 billion and a growth rate of 10% in local currency terms. The figures represent the performance across Ernst & Young's three service lines - Assurance and Advisory Business Services (AABS AABS Assurance & Advisory Business Services AABS Association for the Advancement of Baltic Studies AABS Automated Alternate Billing Service AABS Adaptive Antenna Beam Selection AABS Auto Accident, Broadside AABS Assignment and Analysis of Broadband Spectra ), Tax, and Transaction Advisory Services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal (TAS TAS abbr. 1. telephone answering system 2. true airspeed ). "This was another year of strong growth for Ernst & Young, growth that demonstrates the commitment of our 114,000 people to providing seamless, consistent, high-quality client service, worldwide," said James S. Turley, Ernst & Young's Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . TAS led the service lines, posting 16% growth, reflecting the increased level of corporate deals worldwide. AABS revenue grew by 11% owing to owing to prep. Because of; on account of: I couldn't attend, owing to illness. owing to prep → debido a, por causa de continuing strong demand for assurance and risk-based services. Tax revenue improved by 6% against a background of continuing regulatory and legislative reform. "Ernst & Young's global operating framework, based around driving consistent implementation of our global governance Global governance refers to political interaction and the creation and empowering of international organizations aimed at solving problems that affect more than one state or region, when there is no democratic power of enforcing compliance. methodologies, policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental through our geographic Areas has enabled us to achieve good growth: 9% in the Americas; 19% in Northern Europe, Middle East, India and Africa; 6% in Central Europe; 7% in Continental Western Europe; and 14% in the Far East, Oceania and Japan. While our 'mature' markets continued to perform well, we achieved stellar growth, of between 25% and 55%, in the emerging-market economies in which we have made strategic investments," explained Paul Ostling, Ernst & Young's Global Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "Our people understand the important role they play in maintaining investor confidence and a stable business environment. It is their commitment to this core purpose that drives the continuing success and sustainability of our global organization, and enables us to continue investing in the people, companies and communities of tomorrow," concluded Jim Turley. About Ernst & Young Ernst & Young, a global leader in professional services, is committed to restoring the public's trust in professional services firms and in the quality of financial reporting. Its 114,000 people in 140 countries pursue the highest levels of integrity, quality, and professionalism in providing a range of sophisticated services centered on our core competencies of auditing, accounting, tax, and transactions. Further information about Ernst & Young and its approach to a variety of business issues can be found at www.ey.com/perspectives. Ernst & Young refers to all the members of the global Ernst & Young organization. This press release has been issued by EYGM Limited, a member of the global Ernst & Young organization |
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