Ernst & Young ECONOMIC

Target: Ernst & Young (EY)

Evidence cutoff: 22 October 2026

Scope: Ernst & Young Global Limited, its international member-firm network, Ernst & Young (Israel) Ltd, Kost Forer Gabbay & Kasierer, and identified controlling principals.

Supply Chain & Sourcing Relationships

Business model and supply-chain classification

EY describes its activities as assurance, consulting, tax, strategy, and transaction services; its FY2026 global revenue disclosure identifies these professional services as its principal business activities.¹

EY Israel’s published consulting portfolio includes supply-chain management, procurement advisory, operational transformation, technology implementation, cybersecurity, and financial-management services.²

Direct agricultural suppliers

No public evidence identified of a direct EY procurement relationship with Mehadrin, Hadiklaim, Galilee Export, Agrexco successors, or other named Israeli agricultural exporters.

No public evidence identified that EY procures Israeli dates, avocados, citrus, fresh herbs, potatoes, or other agricultural goods for resale.

Importer-of-record structure

No public evidence identified of an EY-owned agricultural importing company, dedicated importer-of-record entity, or joint venture importing Israeli produce.

The EY member-firm structure identifies separately incorporated professional-services businesses, including two named Israeli entities, without establishing a dedicated merchandise-importing subsidiary.³

Seasonal sourcing

No public evidence identified of recurring seasonal Israeli procurement during December–April or other counter-seasonal sourcing periods.

Third-party and indirect sourcing

No public evidence identified of Israeli-origin retail merchandise reaching EY customers through distributors, resellers, private-label brands, or white-label merchandise arrangements.

Government-facing service supply chains

EY Israel advertises consulting services to Israeli government ministries, statutory bodies, government companies, healthcare organisations, academic institutions, and other public-sector entities; its stated services include procurement improvement, financial controls, regulation, and technology transformation.²

In its account of activities following 7 October 2023, EY Israel stated that its consulting teams collaborated with the Israel National Cyber Directorate on cybersecurity assistance and the identification and reporting of security weaknesses; the account did not quantify a contract value.⁴

Product Origin, Labeling & Regulatory Compliance

Settlement-origin merchandise

No public evidence identified of EY importing, distributing, manufacturing, or selling goods represented as Israeli-origin products that originated in West Bank, Jordan Valley, or Golan Heights settlements.

Country-of-origin labelling

No public evidence identified of a product-origin labelling enforcement action against EY concerning Israeli or settlement-origin goods.

Regulatory compliance

EY Israel advertises tax, assurance, governance, and regulatory-compliance services for Israeli businesses, which establish an advisory role but do not establish that EY itself distributes goods subject to agricultural country-of-origin labelling.⁵

Corporate sourcing and labelling policy

No public evidence identified of a specific EY policy governing the purchase or labelling of physical goods produced in Israeli settlements.

Settlement-business screening

The September 2026 United Nations Human Rights Council proceedings described an updated OHCHR settlement-business database containing 214 enterprises, following examination of 126 businesses in that update and identification of 61 enterprises with relevant activities during the assessment period.⁶

No independently verified EY-specific settlement-business listing or identified EY commercial transaction in a settlement was established by the evidence examined for this audit.

Investment, Capital & Financial Exposure

Direct operational investment

EY maintains a substantial professional-services presence in Israel through its Israeli member firms, whose disclosed legal identities include Ernst & Young (Israel) Ltd and Kost Forer Gabbay & Kasierer.³

The published 2024 member-firm register identifies both entities in Israel, with their registered offices on Menachem Begin Road in Tel Aviv.³

Capital investment versus professional-services operations

EY’s legal statement identifies Ernst & Young Global Limited as a UK company limited by guarantee and explains that individual member firms are separate legal entities; Ernst & Young Americas LLC coordinates participating firms without holding ownership interests in them.⁷

The existence of Israeli EY member firms therefore establishes a direct operational presence within the EY network but does not, without further ownership evidence, establish that the UK global entity owns their equity.⁷

Acquired Israeli operating companies

EY’s FY2025 disclosure states that its Studio+ organisation included professionals from 37 specialist businesses acquired by EY network members in preceding years, without identifying an Israeli manufacturing or technology company acquired by the global organisation in that disclosure.⁸

No public evidence identified of a specifically named Israeli manufacturer, pharmaceutical company, consumer brand, defence company, infrastructure operator, or other Israeli operating business acquired and controlled by EY.

No verified acquisition price, controlling percentage, manufacturing location, or acquired Israeli subsidiary revenue was identified.

Research, development, and innovation activity

EY Israel’s consulting practice publicly advertises technology transformation, data analytics, cybersecurity, digital transformation, and Industry 4.0 services for the Israeli market.²

EY Israel held a mergers-and-acquisitions conference on 10 June 2025, with a subsequent publication dated 13 July 2025 describing discussions of acquisition financing, transaction execution, and post-acquisition integration.⁹

EY Israel advertised another mergers-and-acquisitions conference for 23 June 2026 in Tel Aviv, involving investment and financial-market participants.¹⁰

These conferences establish engagement with Israel’s corporate-finance ecosystem but do not establish that EY acquired equity in the participating companies or funds.^{9, 10}

No public evidence identified of a specifically documented EY-owned Israeli research laboratory, manufacturing R&D facility, or Israeli Preferred Technology Enterprise designation.

Parent and beneficial ownership

EYG is a UK company limited by guarantee and the global organisation consists of legally separate member firms; EY’s legal disclosures do not describe a publicly traded holding company with conventional shareholders controlling all member firms.⁷

EY’s Irish legal disclosure states that Ernst & Young Americas LLC has no equity ownership interest in the Americas Area Firms, which include Ernst & Young (Israel) Ltd.¹¹

Portfolio investments

No public evidence identified of an EY group entity holding a disclosed portfolio of Israeli-listed equities, Israeli government securities, or Israel-focused investment funds for its own account.

Israeli sovereign borrowing and war-bond financing

The Bank of Israel describes the State of Israel’s international borrowing through bonds and certificates, including securities issued by the Israel Bonds organisation, and identifies a separate fiscal-agent arrangement for administering those foreign loans.¹²

No public evidence identified of EY acting as underwriter, lead arranger, distributor, or purchaser of Israeli sovereign war bonds.

Direct lending, insurance, and settlement-company finance

No public evidence identified of an EY member firm directly lending to Israeli military suppliers or OHCHR-listed settlement businesses.

No public evidence identified of EY underwriting Israeli military, state, or settlement insurance risks through its own regulated insurance balance sheet.

Investments by controlling principals

EY Israel currently identifies Yuval Ganani and Noam Canetti as co-CEOs and Sharon Shulman as Chair.¹³

No public evidence identified of material personal or family-office investments by these named principals in Israeli defence companies, settlement enterprises, or Israeli sovereign financing instruments.

Operational Presence & Market Activity

Physical footprint

EY Israel’s corporate contact page lists its head office at 144A Menachem Begin Road, Tel Aviv, and additional offices at 2 HaPalyam Boulevard, Haifa, and 8 Hartum Street, Jerusalem.¹⁴

These offices constitute a documented Israeli professional-services footprint, with current office listings available during the October 2026 research.¹⁴

No public evidence identified of an EY office specifically located within an Israeli settlement in the occupied West Bank or Golan Heights.

No public evidence identified of an EY warehouse, manufacturing plant, or retail outlet in those territories.

Employment

Reporting published on 25 October 2022 described EY Israel as having approximately 2,000 employees and 90 partners at the time.¹⁵

The same report described the Israeli business as one of EY’s 30 largest national operations by revenue while accounting for less than 1% of global turnover in the period discussed.¹⁵

EY reported 415,182 personnel across its global organisation at the end of June 2026; this global figure is not an Israel-specific workforce measure.¹

No independently verified EY Israel workforce total for October 2026 was identified.

Government-sector market participation

EY Israel’s consulting materials explicitly offer professional services to Israeli government ministries, statutory agencies, state companies, healthcare organisations, and publicly funded institutions.²

EY Israel’s current consulting leadership directory identifies Hagit Tzur as a partner associated with Government & Public Sector services.¹⁶

The firm’s published sector coverage also includes energy and infrastructure, telecommunications, transport, manufacturing, construction, financial services, and real estate.¹⁷

Israel National Cyber Directorate

EY Israel’s account of its activities during the conflict that began in October 2023 states that EY consultants worked with the Israel National Cyber Directorate to provide cybersecurity assistance and address identified vulnerabilities.⁴

No contract value, procurement document number, payment arrangement, or named defence-system integration was established by the cited corporate statement.⁴

Financial and material support to military personnel

EY Israel’s published account of its response following 7 October 2023 states that employees raised donations to purchase equipment for IDF soldiers.⁴

The same account describes converting EY office classrooms into accommodation for soldiers and assisting airline executives with efforts to return Israelis who had been called up for military service.⁴

EY Israel also describes sending supplies to the Israeli Artillery Corps unit known as Zik, which the organisation stated it had supported for many years.⁴

The corporate account attributes a US$2 million donation to EY Global for civilian organisations financially supporting people displaced from communities around Gaza and IDF combatants.⁴

The same corporate account describes EY personnel helping displaced families, providing laptops to Sheba Medical Center and other organisations, and supporting affected Israeli businesses with government-grant eligibility.⁴

These descriptions concern activities reported in connection with the conflict beginning in October 2023; the source does not provide sufficient subsequent transaction dates to confirm continuation of each initiative after 19 July 2024 or after November 2024.⁴

Reservist employment

EY Israel’s public guidance on wartime business continuity discusses Israeli reservist compensation and government measures introduced following October 2023.⁴

No public evidence identified specifying the amount of salary supplementation paid directly by EY Israel to reservist employees.

Tax and regulatory presence

EY Israel’s official 2022 equal-pay disclosure identifies Kost Forer Gabbay & Kasierer as an Israeli workplace operating in accounting and consulting, establishing employment-regulatory reporting by that entity.¹⁸

The published member-firm register independently identifies Ernst & Young (Israel) Ltd and Kost Forer Gabbay & Kasierer as Israeli entities.³

No independently verified Israeli corporate-tax payment amount, applicable effective tax rate, or Preferred Technology Enterprise designation was identified for these EY entities.

Market positioning

In October 2022 reporting, EY Israel’s then-managing partner Doron Sharabany opposed the proposed global separation of EY’s audit and advisory operations in Israel; the report identified the local firm’s size and its contribution to global revenue.¹⁵

EY Israel’s 2025 and 2026 professional events demonstrate continuing Israeli-market activity after the ICJ advisory-opinion date of 19 July 2024 and the ICC warrants issued in November 2024.^{9, 10}

Occupied-territory business activity

No public evidence identified of a named EY contract, revenue-producing service engagement, office, or subsidiary operating specifically in an Israeli settlement in the occupied West Bank, including East Jerusalem, or the Golan Heights.

Corporate Structure & Foundational Ties

Historical origins and global domicile

EY describes itself as an international network of legally separate firms coordinated through Ernst & Young Global Limited, a UK company limited by guarantee.⁷

EY’s published governance statements identify the global organisation as operating through regional structures, including the Americas, EMEIA, and Asia-Pacific areas.⁷

No public evidence identified that the global Ernst & Young organisation was founded or originally incorporated in Israel.

Israeli corporate identity

The Israeli entities identified in EY’s 2024 member-firm register are Ernst & Young (Israel) Ltd and Kost Forer Gabbay & Kasierer.³

EY Israel’s own website publishes a local management directory, Israeli professional-services offerings, and domestic office addresses.^{13, 14}

Ownership and control

EY’s legal statement identifies Ernst & Young Americas LLC as a Delaware company coordinating the Americas Area Firms, expressly including Ernst & Young (Israel) Ltd.⁷

The same legal statement says that this coordination entity does not own or control the separate member firms and does not act as their general agent.⁷

No public evidence identified of Israeli state equity ownership of EYG or a government-appointed director controlling the global EY network.

Israeli-Nexus Floor factual indicators

Israeli operating-company presence is established by the registered Israeli member-firm entities and their published office locations.^{3, 14}

Israeli incorporation is established for Ernst & Young (Israel) Ltd, while EY Global’s published legal domicile is the United Kingdom.^{3, 7}

No public evidence identified establishing Israeli tax residence for EYG, an Israeli PTE designation for EY, or majority Israeli beneficial ownership of the global EY organisation.

Leadership

EY Israel’s management directory identifies Yuval Ganani and Noam Canetti as co-CEOs and Sharon Shulman as Chair.¹³

Its current consulting and tax directories separately identify the partners responsible for areas including technology consulting, cybersecurity, government services, and international tax.^{16, 19}

No public evidence identified of a named controlling principal holding a disclosed personal controlling stake in an Israeli military manufacturer or settlement enterprise.

State and institutional relationships

EY Israel advertises services to Israeli government ministries, government-owned enterprises, and statutory institutions.²

Its October 2023 wartime publication identifies a specific professional collaboration with the Israel National Cyber Directorate.⁴

No public evidence identified of Israeli government ownership rights, golden shares, state-appointed EY board members, or charter provisions committing EY to Israeli government policy objectives.

Settlement nexus

The United Nations Human Rights Council’s September 2026 proceedings described the updated business database as addressing specified forms of company involvement in Israeli settlement-related activities.⁶

No independently verified EY settlement-specific involvement, ownership, real-estate development, operating contract, or supply relationship was identified in the sources examined.

Profit Repatriation & Economic Contribution

Revenue attribution

EY reported combined global revenues of US$57 billion for the financial year ended June 2026, representing 4.7% growth in local currency compared with FY2025.¹

The preceding FY2025 disclosure reported combined global revenue of US$53.2 billion.⁸

EY explains that global revenue represents aggregated member-firm revenue after eliminating inter-firm transactions for presentation purposes; it is not consolidated turnover attributable to a single equity-owned multinational corporation.¹

The October 2022 Irish Times report stated that EY Israel contributed less than 1% of EY’s worldwide turnover at that time.¹⁵

No separately disclosed FY2025 or FY2026 Israel-specific revenue amount was identified.

Profit flows

EY’s legal structure involves separately constituted member firms, and its legal disclosures distinguish the UK global coordinating entity from the firms supplying professional services.⁷

No public evidence identified quantifying profit distributions from EY’s Israeli member firms to foreign member firms or the global coordination entity.

No public evidence identified of profits earned in non-Israeli EY member firms being remitted as shareholder dividends to an Israeli parent company.

Employment and domestic expenditure

EY Israel’s reported workforce of approximately 2,000 employees and 90 partners in October 2022 establishes a historical local employment footprint.¹⁵

Its currently advertised Israeli office network and public-sector service practices establish continuing local operating activity, although no current payroll expenditure or Israeli corporate-tax total was identified.^{14, 2}

Contribution through Israeli government services

EY Israel’s published consulting portfolio includes government financial controls, procurement reform, digital transformation, technology implementation, and regulatory projects.²

EY Israel’s account of its wartime activities identifies cybersecurity cooperation with the Israel National Cyber Directorate and assistance to businesses accessing government support programmes.⁴

No independently corroborated monetary value was identified for those specific government-facing services.

Contribution through investment and financial-market services

EY Israel’s July 2025 publication describes an M&A conference addressing acquisitions, financing, and post-acquisition integration.⁹

Its June 2026 conference announcement describes engagement with Israeli investment and financial-market participants.¹⁰

These publications establish the firm’s continuing provision and promotion of transaction-advisory capabilities in Israel, without establishing beneficial ownership of the investments discussed.^{9, 10}

Military-related economic transfers

EY Israel’s wartime account identifies donations used to purchase equipment for IDF personnel, assistance to the Zik artillery unit, and financial contributions supporting displaced civilians and combatants.⁴

The account identifies a US$2 million global contribution benefiting civilian organisations serving both displaced residents and IDF combatants, but does not specify the amount allocated to each beneficiary category.⁴

No public evidence identified quantifying subsequent expenditure for these activities after 19 July 2024 or after November 2024.

Sector significance

The October 2022 reporting described EY Israel as a top-30 EY national business by revenue and reported a substantial local employment base.¹⁵

EY Israel’s continuing operations across assurance, taxation, financial services, public-sector consulting, technology, and transaction advisory establish its commercial participation across multiple Israeli industries.^{5, 2, 17}

No official Israeli government designation identifying EY as critical national infrastructure was established.