Ernst & Young, one of the world's big four accounting firms, today scrapped plans to split its audit and consulting firms after leaders of its US arm decided not to proceed. Watch the full episode at www.skynews.com.au/flash | Sky News Australia

Last September, the global accounting and audit giant Ernst & Young unveiled a bold plan to split the company in two: one focused on consulting and one focused on audits. And then, in April, it all fell apart. In this video, we explore the surprising history that led EY’s leaders to conclude the best path forward was to split, dissect why the plan imploded, and examine what’s next for EY. | Bloomberg Law