Ernst & Young has announced it will hire new non executive directors to oversee the roll out of its new UK Audit Firm Governance Code.
The firm announced it would be rolling out the Code at a global level. Ernst & Young’s 2010 Global Transparency Report, which will be issued in September, will include all disclosures required by the Code.
“Although the Code technically applies only to our UK business, as a globally integrated organisation, we believe it is most appropriate for us to implement the Code’s provisions on a global basis also,” said Jim Turley, global chairman and CEO of Ernst & Young.
“One of the important provisions mandated by the Code concerns the appointment of independent non-executives. We intend to make these appointments a...