BUSINESS EXTRA Chain sold FINANCE No change at EY

and advisory divisions worldwide.

But, bearing in mind the strategic importance of the now‐unhappy US member firm to Project Everest, EY halted the project.

FULHAM SHORE, owner of the Franco Manca and The Real Greek restaurant chains, is selling them for £93.4 mil ‐lion (€106 million).

the same companies whose books they were scrutinising.

The UK’s accounting and audit reg‐ulator, the Financial Reporting Coun‐cil, said that auditing operations should be isolated from the rest of EY’s businesses. In the event, EY went further still with a restructuring opera‐tion that would have separated audit

“The global executive remains committed to moving forward with creating two world‐class organisa‐tions that further advance audit quali‐ty, independence and client choice,” explained a note to staff from EY’s global executive committee.

“We will begin taking actions based on what we have learned from the work done over the past year, actions that will both benefit our businesses today and better prepare us for a new transaction,” the executive commit‐tee added.