EY CEO on Economic Recovery, Supply Chains, ESG

The video discusses the uneven economic recovery post-pandemic, highlighting sectoral and regional disparities. It emphasizes the importance of digitizing supply chains and maintaining global trade despite geopolitical tensions. The rise in new business applications, particularly in technology, is noted, alongside a growing focus on ESG metrics. The video also addresses corporate governance and the need for improved auditing standards to detect fraud, using the Wirecard scandal as a case study.

Which sectors are experiencing a strong recovery according to the transcript?

• Hospitality and airlines

• Technology and internet-related industries

• Retail and manufacturing

• Agriculture and mining

What is a significant change in business operations discussed in the transcript?

• Expansion of physical retail stores

• Digitization of supply chains

• Reduction in global trade

• Increased focus on local markets

What has been the trend in new business applications during the pandemic?

• Surge in technology and financial startups

• Increase in hospitality businesses

• Decrease in technology startups

• Decline in all new business applications

What are the two themes emerging from the pandemic that are linked to ESG?

• Sustainability and social inequity

• Cultural diversity and innovation

• Economic growth and technological advancement

• Political stability and market expansion

What is the main focus of the ESG project mentioned in the transcript?

• Creating a unified set of ESG metrics

• Enhancing digital marketing strategies

• Promoting global trade agreements

• Developing new financial products

What is a key challenge in auditing highlighted by the Wirecard scandal?

• Inability to detect collusive fraud

• Excessive regulatory oversight

• Lack of global auditing standards

• Over-reliance on technology

What is the expected trend in fraud detection as the economy recovers?

• Complete elimination of fraud

• Stagnation in auditing practices

• Increase in fraud detection measures

• Decrease in fraud cases