Andy Park is the EY Los Angeles Office Managing Partner for Ernst & Young. In his role, Park uses his roughly two decades of experience to lead a team of thousands of professionals.
Park spoke with the Business Journal about tax changes and AI.
How is the accounting industry faring in Los Angeles and Southern California right now?
The accounting industry – and professional services more broadly – is faring well in L.A. and Southern California. As companies across all sectors continue to transform and adapt to meet new opportunities, our services are delivering significant value.
At EY, we’re thriving by investing in people and technology – the two drivers of success in the accounting industry. Our business will always be a people business, which is why we regularly look at our benefits, programs and resources to continuously ensure they are meeting the needs of our professionals. That’s also why we launched EY Career Path Accelerator, which offers an affordable and accessible way to earn the credit hours needed to become CPA eligible without having to incur an additional year of school. Strengthening our talent pipeline and the wellbeing of our professionals will help us continuously provide clients with the high-quality service they need.
With the second Trump Administration now underway, do you anticipate any changes to the business climate that will keep accountants busy working with their business clients?
Yes – changes in tax and economic policy, as well as ongoing evolutions in AI, cryptocurrency and other technologies are all topics we’re exploring. The services offered by accountants and consultants will be extremely valuable, as changes in AI and crypto, for example, have audit implications and also create opportunities for businesses to add value to their stakeholders. At EY, we’ve been preparing for this moment by conducting proactive research and constantly strengthening our understanding of evolving technologies. By staying attuned to the nuances in each of these areas, we can help our clients proactively navigate policy shifts, remain resilient as capital markets fluctuate, mitigate risk effectively and seize growth opportunities.
What steps is your operation taking – if any – to implement new technologies such as generative AI software?
EY is investing $1.4 billion in AI, which includes the launch of EY.ai – now used by over 60,000 clients. We have also rolled out AI training to all 400,000 of our professionals, and our firm has launched our own Large Language Model (LLM), called EYQ, which has already received millions of prompts.
What do you do to increase accountant retention at your office?
In L.A., there are two major initiatives helping us develop even stronger bonds with one another and our firm: Our local Business Resource Groups (BRGs), which are professional networks and identity-based communities, and the local chapter of EY Ripples, our volunteerism program.
Our office is home to 11 BRGs, each of which help us get closer to one another and foster the belonging that’s so important to retention. Additionally, our local EY Ripples leaders consistently give us valuable opportunities to give back – most recently, providing multiple ways to help our neighbors and first responders amid the California wildfires. When we get to know each other better – either through cultural celebrations or service opportunities – we can continuously find ways to support our colleagues’ careers and help them thrive personally and professionally. Most importantly, these initiatives are the right thing to do for our professionals and the broader community.
At the national level, we are continuing to increase the many ways we support the holistic wellbeing of our people to help them thrive personally and professionally. We’re doing this through benefits, programs and tools.
For instance, the EY Extraordinary You Funds provide reimbursement for child and dependent care, as well as pet care, commuting costs and wellbeing-related items and activities, including vacation lodging and travel, fitness equipment, gym memberships and more. Through these funds, our people can choose what works for them and what meets their needs.
Additionally, we regularly look at our benefits, programs and resources to continuously ensure they are meeting the needs of our professionals. Investments in technology are part of this work, too. We empower our professionals with the latest technology so they always know they have valuable resources at their fingertips.
We also know wellbeing is a team sport. That’s why we support our teams in feeling fulfilled and ready to face their day with peak health, connection and a sense of purpose. We also provide financial, physical, emotional and social support through leading programs, resources and tools, and we foster a culture of care by putting our collective wellbeing at the heart of everything we do.
Lastly, we’re investing $1 billion in talent and technology to revolutionize the experience of early career accounting professionals and further improve the attractiveness of our profession. This investment includes a significant increase in early career compensation, an innovative new “360 Careers” experience, outreach and support for college students, and enhanced wellbeing benefits.
What is your outlook on remote working in 2025?
As ways of working continue to evolve, organizations are focused on improving their models, driving culture change and shoring up employee engagement. At EY US, we’ve found teams that spend 40-60% of their time together, in person, experience the optimal balance of collaboration and flexibility. They benefit from the on-the-job learning and real-time feedback that’s critical to our apprenticeship culture, and are able to build lasting connections.
