Fintech PR
EY releases more than 20 new Assurance technology capabilities supported by Microsoft alliance in first year of US$1b investment program
- Assurance technology applications hit milestone 500,000 users, benefitting from the performance and stability of Microsoft Azure
- Recent releases include integrated and transformed analytics that use Microsoft Azure and Microsoft Power BI
- Integration of Microsoft Artificial Intelligence capabilities within EY next generation Assurance technology platform supported by release of Microsoft Azure OpenAI Service
LONDON, Aug. 31, 2023 /PRNewswire/ — The EY organization today announces an expansion of its collaboration with Microsoft, as the EY organization completes the first 12 months of a four-year investment of more than US$1b to deliver its next generation Assurance technology platform. The EY organization’s investment is part of a sustained focus on maintaining the highest-level of audit quality, promoting confidence in business and the capital markets, and providing for a scalable and right-sized audit that aligns with companies’ transformation agendas.
The expansion of the EY organization’s collaboration with Microsoft follows this year’s release of more than 20 new major Assurance technology capabilities. This is part of the multi-year EY program to integrate advanced technologies into one seamless platform and drive transformation through the next generation of data access capabilities and advanced analytics; Artificial Intelligence (AI); and an elevated user experience. This transformation is supporting 500,000 EY professionals and external users, powered by Microsoft Azure.
Marie-Laure Delarue, EY Global Vice Chair – Assurance, says:
“The EY organization has reached the first milestone in a four-year investment program to integrate and transform EY Assurance technology. The EY and Microsoft Alliance is central to this program as the EY organization delivers on its commitment to continuously improve audit quality; drive sustainable long-term value; and facilitate greater confidence among EY stakeholders and the stakeholders of companies served.”
The first 12 months of the EY organization’s Assurance technology investment has included the release of next generation audit data analytics utilizing Microsoft Power BI. The EY organization’s release uses the combined power of EY and Microsoft capabilities, which provide agile development and delivery in a unified approach – including Microsoft Fabric. This transforms the user experience and supports the full integration of data analytics capabilities directly into the workflow of the EY Assurance technology platform. EY Assurance teams now process over 775b lines of journal entry data each year, as part of the EY digitally transformed audit.
This follows the integration of EY Canvas – the EY organization’s audit technology application – with Microsoft Azure, which has provided strong performance and extensibility in support of EY’s delivery of more than 150,000 audits globally. This includes the 99.99% availability of EY Canvas powered by Microsoft Azure in the last 12 months, enabling one of the largest business-to-business (B2B) platforms in the profession.
The recent release of new Assurance technology capabilities across the EY organization includes globally scaled AI. These AI enabled capabilities – leveraging publicly available and EY generated data – are directly integrated with EY Canvas to support EY Assurance professionals in assessing risk. The EY organization is also introducing new AI enabled capabilities in predictive analytics; content search and summarization; and document intelligence, including financial statement tie-out procedures. Through these developments, EY teams have been using Azure Cognitive Services, to integrate AI into the audit process.
The EY and Microsoft Alliance additionally provides EY Assurance teams with early access to new Microsoft technologies, and the ability to integrate more Microsoft products into the EY Assurance technology platform. This includes the internal EY release of Azure OpenAI Service, helping EY professionals to experience the potential of generative AI capabilities; and to benefit from early access to Microsoft 365 Co-Pilot.
Marc Jeschonneck, EY Global Assurance Digital Leader, says:
“EY’s investment is facilitating the integration and transformation of data-driven audits and other assurance services, powered by the Microsoft Cloud and including the latest Microsoft Power BI capabilities.”
Andreas Toggwyler, EY Global Assurance Technology Officer, says:
“Leveraging Microsoft Azure enables EY Assurance to further increase the performance and resilience of EY’s Assurance technology platform.”
Paul Goodhew, EY Global Assurance Innovation Leader, says:
“EY is accelerating delivery of emerging technologies including artificial intelligence – from ideation to scaled release – through the integration of Microsoft technologies with EY’s platform.”
Arun Ulagaratchagan, Corporate Vice President of Azure Data, Microsoft, says:
“EY’s Assurance technology platform, powered by the Microsoft Cloud, is enabling the transformation of EY’s audit and assurance services. Our common aim to advance game changing new technologies, including data-driven AI, will remain central as we iterate on the next generation of EY and Microsoft technologies.”
More information on the EY-Microsoft Alliance, can be found here
About EY
EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets.
Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.
Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.
This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.
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View original content:https://www.prnewswire.co.uk/news-releases/ey-releases-more-than-20-new-assurance-technology-capabilities-supported-by-microsoft-alliance-in-first-year-of-us1b-investment-program-301914901.html
Fintech PR
President Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB
President Mnangagwa, who is SADC Chairperson, reaffirmed his own country’s and SADC’s enthusiastic support for Zambian candidate Sam Maimbo
LUSAKA, Zambia, Dec. 20, 2024 /PRNewswire/ — Special Envoy Kavindele released the following statement following the meeting:
“I am elated to witness the growing success and momentum of Sam Maimbo’s candidacy to become the next President of the African Development Bank. I am filled with gratitude to our friends across both SADC and COMESA for their continued support and good wishes.
Sam has garnered such wide consensus due to his being uniquely qualified to deliver the transformative change and empowerment our continent needs. Sam’s 30 years in development work is defined by driving outcomes, improving processes, and investing in people. The AfDB needs a hands-on leader who is laser focused on delivering results and who is unafraid of making tough decisions in order to best serve our continent. Sam is that leader. Sam has the track record and experience to drastically enhance the pace, scale, and impact of the Bank’s work in service of the people and governments of Africa.
Our region has a proud history of supporting fellow Southern Africans. For example, we all recall Lusaka’s role in hosting the African National Congress’ headquarters during the dark days of Apartheid oppression.
It therefore gives me no pleasure to observe my South African brothers, who have themselves leant on Zambia’s steadfast friendship over many decades, fail to rally behind both SADC and COMESA’s chosen candidate for the AfDB. Africa’s urgent economic development challenges demand transformational leadership at the AfDB, it is all of our responsibility to put forward the best candidate for the job. This is not the time or place for a government to act with narrow self-interest, we all must act in the continent’s and AfDB’s best interest.
I thank Sam Maimbo for his lifelong service to our entire continent, and I am eager to witness his enormous impact as President of the AfDB.”
LONDON, Dec. 20, 2024 /PRNewswire/ — Heimdal Security shares a practical holiday cybersecurity checklist, offering expert insights to help businesses safeguard against cyber threats this festive season.
With reduced staffing, remote work setups, and a surge in online shopping creating heightened vulnerabilities, this guide offers actionable tips to enhance business security.
Going beyond basic advice, the checklist also highlights the most common holiday scams and features videos showcasing real-life examples of Christmas-themed cyber scams and effective prevention strategies.
Key Tips to Protect Businesses This Holiday Season:
- Strengthen endpoints: Ensure devices are updated with antivirus and endpoint protection software; consider Endpoint Detection and Response (EDR) and application whitelisting.
- Prepare for phishing spikes: Train staff to identify suspicious emails, enforce robust email filters, and establish protocols for reporting unusual activity.
- Secure remote access: Mandate VPN usage, monitor unusual logins, and deactivate inactive accounts temporarily.
- Segment and shield networks: Isolate sensitive areas, deploy DNS security and advanced firewalls, and maintain full visibility over network traffic.
- Apply timely patches: Regularly update all systems and test patches in a controlled environment to minimize disruptions.
- Mitigate supply chain risks: Assess vendors thoroughly and limit their access to essential systems.
- Have a response plan ready: Tailor incident protocols for the holidays, create an on-call rotation for the IT team, and enable rapid action against suspicious activity.
“ Cybercriminals thrive on holiday distractions, but with proactive measures like phishing training, secure endpoints, and network segmentation, businesses can stay ahead of potential threats,” said Alex Panait, System Administrator at Heimdal Security.
Common Holiday Scams That Businesses Should Watch For:
Cybercriminals often tailor their tactics to exploit the festive season. The most common scams include:
- Spear phishing: Emails disguised as holiday bonuses or event invitations that steal credentials or spread malware.
- Malicious holiday E-Cards: Festive greetings that contain links deploying ransomware or spyware.
- Fake E-Commerce sites: Fraudulent websites offering discounts to steal payment information.
- Insider threats: Distracted or disgruntled employees mishandling or exploiting sensitive data.
- Corporate travel scams: Fake booking platforms targeting business travelers.
- Business email compromise (BEC): Fraudulent requests for urgent wire transfers during year-end financial rushes.
For more, read the full article here or watch the video on YouTube to see how these threats unfold and learn actionable prevention strategies.
About Heimdal:
Established in Copenhagen in 2014, Heimdal® empowers CISOs, security teams, and IT administrators to improve their security operations, reduce alert fatigue, and implement proactive measures through a unified command and control platform.
Heimdal’s award-winning cybersecurity solutions span the entire IT estate, addressing challenges from endpoint to network levels, including vulnerability management, privileged access, Zero Trust implementation, and ransomware prevention.
For further press information:
Madalina Popovici
Media Relations Manager
[email protected]
View original content:https://www.prnewswire.co.uk/news-releases/stay-cyber-safe-this-holiday-season-heimdals-checklist-for-business-security-302337465.html
Fintech PR
According to Tickmill survey, 3 in 10 Britons in economic difficulty: Purchasing power down 41% since 2004
The people who have the most problems are women (30%) and are between 35 and 49 years old (39%)
ROME, Dec. 20, 2024 /PRNewswire/ — The purchasing power in the UK has dropped by 41% over the last 20 years. Today, £100,000 left in a bank account since 2004 without being invested would now be worth £59,021.
This figure is one of the findings from a study conducted by Tickmill, an international online trading broker that compared the economic situation in the UK and the European Union through the infographic “Purchasing Power and Cost of Living: UK vs EU”.
The analysis reveals a slight decline of 0.4% in the UK’s purchasing power, which currently stands at £41,573. In contrast, the European Union has seen a modest rise of 0.1%, reaching £40,874.
Why is purchasing power declining in the UK? One key factor is the cost of living. If the UK were still part of the European Union, it would rank as the fifth most expensive country, behind Ireland, Luxembourg, Denmark, and the Netherlands.
Unsurprisingly, 3 in 10 Britons are struggling with the cost of living. Women (3 in 10, compared to 25% of men), those aged between 35 and 49 (4 in 10), households earning less than £15,000 (6 in 10), and single parents (1 in 2) are among the most affected groups.
Among UK nations, Northern Ireland is the hardest hit, with 34% of its population facing financial difficulties, followed by Wales (31%), England (28%), and Scotland (22%). In England, the North East has the highest percentage of people struggling, with 4 in 10 residents affected. Even in London, the high costs impact 1 in 4 adults.
In response to these challenges, Britons are making significant adjustments:
- 53% have cut back or delayed spending on smaller items like eating out, entertainment, subscriptions, clothing, toys, books, etc.;
- 52% have reduced household energy consumption;
- 48% have decreased their grocery spending;
- 41% have scaled back or postponed major expenditures, such as holidays, cars, and weddings;
- 26% are working longer hours, taking on overtime, or pursuing additional jobs to earn extra income.
The British also made changes on the financial side. One in four adults has been forced to dip into their savings or investments to cover daily expenses. Moreover, 44% have stopped saving or investing entirely or have reduced their savings and investments—a 4% increase compared to 2023.
The lack of investment is another critical factor contributing to the decline in purchasing power. It is estimated that 13 million UK residents hold £430 billion in cash deposits but do not invest. The reasons? Seventy-four percent say they cannot compare investment products effectively, and 43% are afraid of losing their money.
A lack of knowledge and fear are preventing many savers from taking advantage of an important opportunity: preserving or increasing their purchasing power in the long term.
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