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Ernst & Young is a multinational professional services firm headquartered in London, United Kingdom. It is one of the "Big Four" audit firms and is the third largest professional services firm in the world by aggregated revenue in 2014, after PwC and Deloitte Wikipedia.


Grant
Agency: Cordis | Branch: FP7 | Program: CSA | Phase: ICT-2011.5.4 | Award Amount: 559.46K | Year: 2011

Longer life expectancies and low birth rates together impacts on the demographics of the workforce. The proportion of 50- to 64-year-olds in the workforce will be double in size compared to workers younger than 25 years (35 versus 17%) in the EU15 (the first 15 European countries to join the union) by the year 2025. Several EU15 countries will face this challenge by 2010 and the situation is expected to last for decades. The new member states of the EU do not ease the greying picture, rather the opposite and immigration will only be a minor solution to the problem.\nA marked paradox exists between a longer life and a shorter working life. More healthy years will be spent in retirement than in work. So, the problem is not higher life expectancies but earlier retirement.\n\nImproved health and technological advances make it possible to extend work life beyond age 65 extending independence, productivity and quality of life.\nAgeingrelated technological innovations can help ageing to stay at work and they fall into four technological categories:\n\tenabling technologies (which assist people to age in place)\n\toperational technologies (which assist aging people to function in society)\n\tconnective technologies (which assist aging people to communicate with caregivers, families and medical resources and vice versa)\n\ttelemedicine (which allows a medical source or caregiver to monitor, diagnose and/or treat patients from a distance).\nAccording the above concepts GOLDENWORKERSs main objectives are:\n\tDevelop an RTD roadmap for active aging at work\n\tCreate a set of realistic scenarios, based on the socioeconomic conditions that are present in the different regions of EU27\n\tValidate scenarios and existing gaps with stakeholders\n\tIdentify shared RTD roadmap (among Industry, SMEs, research and academia) and concrete recommendations for covering the identified gaps and achieving the more agreed scenarios\n\tCreate expert communities of IT industry and SME representatives for knowledge sharing and for designing a common RTD strategy


Grant
Agency: Cordis | Branch: FP7 | Program: CP | Phase: SEC-2010.1.3-1 | Award Amount: 4.39M | Year: 2011

HEMOLIA is a new generation Anti-Money Laundering (AML) intelligent multi-agent alert and investigation system which in addition to the traditional financial data makes extensive use of modern societys huge telecom data source, thereby opening up a new dimension of capabilities to all Money Laundering fighters (FIUs, LEAs) and Financial Institutes (Banks, Insurance Companies, etc.). Adding the Telecom Plane to the existing Financial Plane may improve and dramatically change AML doctrines, since another dimension is added to the analysis and investigation processes. HEMOLIA, taking into account existing legal frameworks, will hybridize and correlate the Financial and Telecom Planes in order to create richer and more accurate alerts, intelligence and investigation tools, as well as information sharing, both nationally and internationally. A major part of HEMOLIA will be the legal research and provision of legal guidelines to all ML fighters. To respect privacy rights HEMOLIA will bring a new model of Push Privacy Preserving Alerts where all FIUs and FIs are pushed with alerts that mark a transaction or customer with a money laundering / fraud risk level or risk probability, yet without disclosing any private data. This model may have outstanding impact on AML because it means that FIs will be alerted based on data of all other FIs and based on Telecom service providers at the national and international level, opening up a new era of Money Laundering and financial crime reporting by FIs to FIUs. The HEMOLIA consortium includes 2 end users (Belgium FIU, Ministry of Justice of Poland) and 7 technological partners which bring together European SMEs, industries and academies, ranging from system and database design through to money laundering detection. HEMOLIA will be tested in an environment which simulates live network and systems of 3 different countries which have implemented the HEMOLIA concept and which will cooperate together to share AML information.


Grant
Agency: Cordis | Branch: H2020 | Program: MSCA-ITN-EID | Phase: MSCA-ITN-2014-EID | Award Amount: 1.52M | Year: 2015

The EID WAKEUPCALL has been set up with the knowledge that, in the WAKE of the financial crisis, a reconsideration of fundamental assumptions that have been standard in the mathematical models for the valuation of financial and insurance products, like CALLs is taking place. The crisis alerted to reiterate models, assumptions and computations. It is now better understood that the usual paradigm, in which financial risks can be mitigated, spread, or even hedged away perfectly, is too simplistic for markets under stressed conditions. Lead by the Basel Committee on Banking Supervision, financial and insurance institutions are currently implementing new paradigms regarding risk management. Many of the updates in the risk measures involve sophisticated mathematics. In this sense, the crisis has provided important feedback on appropriate directions for the required mathematical improvements. As regards to hedging and risk mitigation, which are important steps in the risk management chain, nowadays even the hedging of basic financial instruments has become a complicated task. More sophisticated models are needed if hedging programs are to remain effective under financial stress. We wish to bring together academic researchers in financial mathematics and high level professionals in financial and insurance industries, discuss and interact by means of early-stage researchers (ESRs). We are interested in the mathematical models, as well as in advanced solution techniques used for pricing and risk measurement. We wish to educate young experts in modern risk measures and management. Advanced courses by academic and professional lecturers will be selected for the education of the ESRs. We will additionally work on providing entrepeneurial skills to ESRs as they will have a unique knowledge of applied mathematics on practically relevant research questions in computational finance. All ESRs will produce software, according to latest standards in high performance computing.


Grant
Agency: Cordis | Branch: FP7 | Program: CP | Phase: SEC-2009-2.2-02 | Award Amount: 14.97M | Year: 2010

TASS is a multi-segment, multi-level intelligence and surveillance system, aimed at creating an entire airport security monitoring solution providing real-time accurate situational awareness to airport authorities.The TASS concept is based on integrating different types of selected real time sensors & sub-systems for data collection in a variety of modes, including fixed and mobile, all suitable for operation under any environmental conditions. TASS divides the airport security into six security control segments (environmental, cargo, people, airplanes, vehicle-fleet & facilities) each of them being monitored by various technologies that are fused together, creating a multisource labyrinth fusion logic enabling situational and security awareness of the airport anytime and anywhere. These fused control segments will be accessed through the TASS WEB-based portal by running a suite of applications making the airport security control centralized to all airport authorities. Information will be shared and synchronized between all of them in order to generate a comprehensive, real time, security overview for the airport C2, providing all the necessary features to assure a total no breach security environment. The integration will include the use of in-place technologies that will result in a cost-effective solution.The TASS consortium consists of 3 main end users representing 16 airports and 16 technological partners, which bring together European SMEs, industrial and academic partners, ranging from sensor design and electronic communications through to civil airport protection. The technologies will be tested at 3 airports including the hub airport Heathrow, an Israeli domestic airport and Athens airport, in order to cover a wide range of needs at different levels of airport protection. The main test at Heathrow airport will involve scenarios including 2 connected to the upcoming 2012 Olympic Games in London ultimately resulting in a high & smooth passengers flow.


Titera W.R.,Ernst And Young
Journal of Information Systems | Year: 2013

This paper highlights the emerging role of data analysis on the financial statement audit and its value throughout the audit process, particularly in providing audit evidence. It raises the issue of needed revisions to the Audit Standards, whether for public or private company audits, and illustrates how certain of the current Audit Standards inhibit the external auditors' use of enhanced data analysis and continuous auditing techniques. While this whitepaper identifies a few audit standards that could be revised in light of current technological capabilities, it does not purport to address all needed revisions. Rather, it recommends that a more in-depth analysis be undertaken to develop needed guidance, as well as a list of recommended changes to the standards.

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