Ernst and Young’s plan possible world wide division Its audit and consulting businesses, code-named Project Everest, were scuttled on Friday by two major rivals, who said they would keep their firms in one piece, according to people familiar with the matter.
Fellow Big Four firms KPMG and PricewaterhouseCoopers issued statements defending their current model of offering bread-and-butter audit work as well as consulting and tax services. PwC said it has “no plans to change course,” whatever rival companies do. Deloitte declined to comment.