Firms That Imploded Have Something in Common: Ernst and Young Audited Them
Accounting firms and their partnership structure confuses me. Seems very archaic relative to corporate structures. Makes it hard to figure out who’s calling the shots.When I go to the Canadian E&Y website, it says:> EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.PwC refers me to a separate website for their structure: https://www.pwc.com/gx/en/about/corporate-governance/network...KPMG has been mixing it up, per wikipedia:> KPMG International changed its legal structure from a Swiss Verein to a co-operative under Swiss law in 2003[25] and to a limited company in 2020.[4]Are they basically franchises? Is there some uber-partner at the global hq collecting massive commissions?