Audit services

As clients continue to invest in technology, it is essential to fully understand IT process risks and to proactively identify potential internal control gaps prior to a system go-live, providing greater trust and confidence in the new system. This is where an ounce of prevention is worth more than a pound of cure.

Insurance is the financial vehicle allowing clients to restore their businesses and recover what was lost following catastrophic events. EY Insurance & Federal Claims Services (IFCS) professionals regularly work with brokers, adjusters and other third parties during the claims preparation process. We speak both the financial language of our clients and the insurance language of their insurance companies, facilitating efficient resolutions.

The pandemic elevated the risk of fraud in part because individuals may have been more motivated to act improperly. In these circumstances, they may feel greater personal pressure or be presented with more opportunities to act unethically and find it easier to rationalize their actions. In addition, in response to evolving expectations of shareholders and other stakeholders, audit committees’ roles increasingly have expanded to include oversight of nonfinancial risks, such as ethics and culture, and breakdown in corporate governance.

Government legislation (e.g., CARES Act) has created an unprecedented level of new IRS and state reporting requirements resulting in increased reporting burdens on our clients. Through our collective focus on innovation with data, process and enabling technologies, we can help address our clients’ compliance efficiently. We deliver tax compliance services using a proven methodology that has been developed and used by EY teams around the globe for more than a decade.