EY celebrates 100 years of operation in the Middle East and North Africa (MENA) this year, having established its first regional office in 1923. The MENA practice of EY has grown to over 8,000 people, united across 26 offices and 15 countries.

EY welcomed 106 new partners across the assurance, consulting, strategy and transactions, and tax service lines during the 2023 fiscal year (FY23). Overall, a total of 1,902 people were promoted at EY MENA during FY23.

EY MENA continues to strengthen its commitment to developing talent in local communities with the Falcon Program, an initiative to fast-track the career journey of high performing GCC nationals on the path to partnership, currently in the midst of its third year, said a statement.

This transformative leadership model supports those with the passion and drive to become the purpose-driven decision-makers of tomorrow, he added.

Abdulaziz Al-Sowailim, EY MENA Chairman and CEO, says: “I am very proud of everything our EY people have achieved over the past 100 years in MENA, and most especially this year. We have always harnessed the power of our people and network to create sustainable, inclusive growth for clients as they move from ambition to action.

“Local governments are continuing to embrace the possibilities of reform – from the cutting-edge technology of smart cities to reshaping the economy with renewable energy – and redefining their influence at an unprecedented speed. It is an exciting time to be supporting visionary policymakers as they showcase the skills, talent, and cultural impact that the region has to offer the rest of the world.”

EY Ripples continues its support of local communities

The corporate responsibility program EY Ripples has seen almost six million lives impacted since its 2019 launch in the MENA region. To build a better working world, EY Ripples focuses on three distinct areas: supporting the next generation workforce, working with impact entrepreneurs, and accelerating environmental sustainability.

Abdulaziz adds: “We will continue to uphold our purpose of building a better working world not only for the MENA organizations we collaborate with, but the larger communities where we live and work – creating a legacy that is both transformative and timeless in an ever-changing global landscape.”

Investments made in the MENA region

EY has made a number of big investments in MENA over the past 15 years to grow its capabilities and offerings for clients. The expansion of the EY Law in the region offering has allowed clients to benefit from holistic and more efficient financial advisory services with guidance on regulations both locally and cross-border. The consulting practice has also onboarded Pinnacle Advisory and Consulting Services (PACS) and The Collective to expand client solutions.

EY launches AI platform following $1.4 billion investment

The global EY organisation launched EY.ai, a unifying platform that brings together human capabilities and artificial intelligence (AI) to help clients transform their businesses through confident and responsible adoption of AI.

EY investments of $1.4 billion have provided the foundation for the EY.ai platform, which leverages leading-edge EY technology platforms and AI capabilities, with deep experience in strategy, transactions, transformation, risk, assurance, and tax, all augmented by a robust AI ecosystem.

Significant progress in reducing absolute emissions

Globally, significant progress is being made on a science-based decarbonization plan, which includes increasing the use of renewable energy and leveraging technology for real-time carbon tracking, as EY remains on track to achieve the ambition of becoming net-zero in 2025. The EY organisation has reduced absolute emissions globally by more than 43% against a FY19 baseline.

EY remains a leader in sustainability solutions, with the EY Climate Change and Sustainability Services (CCaSS) teams experienced exceptional combined revenue growth of over 40% during FY23. In addition, EY was recently ranked No 1 in climate change consulting by independent analyst firm Verdantix. – TradeArabia News Service