EY has called off the plan to break up its audit and consulting businesses after months of internal disagreement. 

The decision is set to be communicated to partners in a note on Tuesday, said people with knowledge of the matter. 

The plan, code named “Project Everest”, was approved by EY’s global leadership in September. It would have represented the biggest shake up in the accounting industry in more than two decades.

EY’s leaders are expected to signal they could pursue a different deal in the future.

This is a developing story. More to come.


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