Ernst & Young Monthly News December 2007
Publications
(PDF, English, 8.48 MB)
Interdependence among the world’s politicians, energy producers, and customers is helping drive the utilities industry to turn to alternative energy
(AE). Utilities Unbundled, Issue 3 investigates how utilities are responding to the technological and commercialization challenges AE presents. Read
more about regional coverage of green taxation, clean technology, and technologies and privatization in the water industry.
(PDF, English, 2.1 MB)
A survey that questions whether ownership unbundling alone will deliver a single European market for energy, and suggests that utility companies that act
now to unbundle voluntarily will gain crucial first mover advantage. Looking at the implications for different types of business in 19 countries and examining
in detail some of the strategic options which companies now face, the survey also analyses the competitive impact on key players in each country. Finally, it
suggests a number of steps, in addition to unbundling, which the EU will need to take in order to achieve a single market (including developing same rules for
private and public companies, harmonizing the implementation of directives and establishing common rules for monitoring unbundling).
(PDF, English, 966 kB)
Between August and November 2006, Ernst & Young surveyed audit committee chairs, audit committee members, board members, and others from 176 companies around
the world. We gathered information and gleaned emerging practices about their oversight role, activities, and the composition of their committees. The results
indicate that audit committees are evolving with the changing business landscape, including developing an increased awareness and understanding of the risks
facing businesses today. Yet, the survey results reflect a growing concern relating to the escalating responsibilities, the increasing need for continuing
education, and the shrinking pool of available and qualified members to serve in these critical corporate governance roles.
(PDF, English, 4.18 MB)
Energy policy cannot be confined to national ministries of energy, according to Ernst & Young's latest utilities study, which urges the European Commission (EC) to
set up an independent Council to ensure the goals of the latest EU Energy Green Paper are achieved. The report, launched at the 23rd World Gas Congress in
Amsterdam, says that the corporate sector and policy makers must work more closely together if the moves towards a common European energy policy are to be realised.
(PDF, English 447 kB)
A new guide which summarizes the similarities and differences between US GAAP and IFRS. Its purpose is to increase IFRS awareness and to prepare for the time
at which US companies potentially will be given the option, or will be required, to convert their financial reporting from US GAAP to IFRS