Our values

Who we are People who demonstrate integrity, respect, and teaming. People with energy, enthusiasm, and the courage to lead. People who build relationships based on doing the right thing. Our values define who we are. They are the fundamental beliefs of our global organisation. They guide our actions and behavior. They influence the way we work with each other and the way we serve our clients and engage with our communities. Every day, each one of us makes choices and decisions that directly affect the way we experience each other and the way our clients and wider communities experience us. Our values give us confidence that we are using the same principles to help us make these decisions throughout our global organisation. Every year, we celebrate the way we live our values through our Chairmans Values Award. Through this award, we give our people the opportunity to recognize their colleagues who are bringing our values to life every day. This is an important way in which we are building our shared culture, founded on our strong commitment to our values.

The power of our global organisation

Over 140 associated firms come together in five geographic Areas. This integrated business model allows us to meet the global demands of our clients, as well as the legal and regulatory requirements that impact our organization. Through our five Areas we bring together the power of the global organization, sharing our knowledge and resources, and driving global consistency and quality. Our Global Executive Our Global Executive focuses on strategy, execution and operations, so that we deliver on the promise we make to our clients to deliver seamless, consistent, high-quality client service, worldwide. Jim Turley, Chairman and Chief Executive Officer, leads the Global Executive. The other members are John Ferraro, Chief Operating Officer; our five Global Managing Partners (for People, Quality and Risk Management, Markets, Operations and Finance and EMEIA Integration); the leaders of our global service lines; and our Area Managing Partners.

Our people delivering on our promises

Were passionate about helping our people to achieve their potential. When our people achieve their best, we can help our clients achieve their best too. Weve developed a culture based on mutual respect and teamwork that promotes personal responsibility and initiative at all levels. Our 141,000 people in 140 countries share our values and our commitment to quality. Together, we strive to make a difference to each other, to our clients and to the communities in which we live and work. We help our people succeed professionally and personally through our global career development framework providing them with the right challenging and rewarding experiences, learning and ongoing coaching they need, to help them grow and expand their aspirations. And being a truly global organization, we support individuals who wish to apply their skills and experiences in new environments. Whether its an assignment in a new service line, office or country they aspire to work in, we help our people match their goals to our clients needs, around the world. Our talented and motivated people make Ernst & Young a great place to work. They help us deliver on our promises to clients. Were committed to attracting them, retaining them, and helping them be the best they can be now and in the future.

Two people. One vision.

It has taken the bold leadership and countless contributions of pe ople around the world to form the leading global organization Ernst & Young is today. Our roots go back to the 19th century and our founders Arthur Young and Alwin C Ernst. Arthur Young was born in Glasgow, Scotland. He graduated in law, but became interested in banking and investment. In 1890, he moved to the US to pursue his career in accounting. In 1906, he formed an accounting firm, Arthur Young & Company, with his brother Stanley. Alwin C Ernst was born in Cleveland, USA. After leaving school he worked as a bookkeeper. Then, in 1903, he and his brother Theodore started Ernst & Ernst, a small public accounting firm. Both Arthur Young and AC Ernst were innovators and appreciated the importance of quality in their work. Ernst pioneered the idea that accoun ting information could be used to make business decisions and make a difference to clients organizations. He inspired his people to deliver better service to clients. Young also positioned himself as a business advisor as much as an accountant. Both men understood the importance of their people. In 1920, Ernst & Ernsts operating philosophy stated: The success of Ernst & Ernst depends wholly upon the

character, ability and industry of the men and women who make up the organization. Young supported the de velopment of professionals. In the 1920s he originated a staff school and, in the 1930s, the firm was the first to recruit from university campuses. Both firms were also quick to enter the global marketplace. As early as 1924, they allied with prominent British firms: Young with Broads Paterson & Co and Ernst with Whinney Smith & Whinney. These alliances were the first of many for both firms, which opened offices around the world to service their international clients. AC Ernst and Arthur Young never met in life, but died within days of each other in 1948. However their philosophies lived on and, in 1989, were brought together when the firms they started combined to create Ernst & Young. The new organization quickly positioned itself on the leading edge of r apid globalization, new business technologies and continuous business change.

Morgan & Stanley