News coverage for PWC

BDO Replaces PricewaterhouseCoopers As Pearl River Resort’s Auditor

BDO Replaces PricewaterhouseCoopers As Pearl River Resort’s Auditor

Pearl River Resort has chosen its new independent auditor BDO after PricewaterhouseCoopers‘s stint as the company’s auditor ended. Pearl River said it would not make any changes to its top priorities, namely external review, oversight of business and financial activities. BDO will be providing outside review of the resort’s business and financial activities, Pearl River [...]

Alleged ‘Malpractice’ Puts PricewaterhouseCoopers in Bad Light

Alleged ‘Malpractice’ Puts PricewaterhouseCoopers in Bad Light

Bank holding company Colonial Bancgroup has filed a lawsuit against accounting firm PricewaterhouseCoopers for malpractice, breach of contract and negligence, before the Montgomery County Court. The Alabama-based company claimed in the suit that negligence and accounting malpractice by PricewaterhouseCoopers and Crowe Horwath has allowed Taylor Bean & Whitaker to sucker Colonial Bancgroup for $1.8 billion [...]

Balance Suit Vs PwC to Move Forward

Balance Suit Vs PwC to Move Forward

A judge of the U.S. District Court in New York has denied a motion filed by PricewaterhouseCoopers’ seeking to dismiss a ruling in a lawsuit filed by former employees of the accounting firm. Judge George Daniels upheld an earlier decision by Judge Michael Mukasey who had ruled in September 2006 that PwC must conduct a [...]

PwC Recognized in Business Consulting, Compliance, Talent Related Activities

PwC Recognized in Business Consulting, Compliance, Talent Related Activities

PwC US has been named a Leader in the IDC vendor assessment of business consulting related to talent related activities, and in business consulting related to compliance related activities, according to the analyst firm’s recently published reports. IDC MarketScape vendor analysis model aims to provide an overview of the competitive fitness of suppliers in a [...]

‘Acquisition of Consulting Firm to Beef Up PwC’

‘Acquisition of Consulting Firm to Beef Up PwC’

PricewaterhouseCoopers has finally completed its acquisition of global management consulting firm PRTM, a deal first inked last June in a definitive merger agreement. PwC said the addition of PRTM’s “extensive experience in operations management consulting, including strategy, supply chain, product development, customer value management and business model innovation” will strengthen and support PwC’s capacity to [...]

Mergers in Industrial Manufacturing Sector Up 70pc in Q2 2011

Mergers in Industrial Manufacturing Sector Up 70pc in Q2 2011

The value of merger and acquisition (M&A) in the industrial manufacturing sector during the second quarter of 2011 has increased by 70 percent, according to Assembling value, a quarterly analysis of M&A activity in the global industrial manufacturing industry by PwC US. According to the analysis, there were 46 deals that were worth more than [...]

Disciplinary Action Slams PwC Over JP Morgan Audits

Disciplinary Action Slams PwC Over JP Morgan Audits

UK’s independent, investigative and disciplinary body for accountants and actuaries will finally hear a formal complaint by FRC’s (Financial Reporting Council) executive counsel regarding the conduct of PricewaterhouseCoopers LLP (PwC) as auditor to JP Morgan Securities Ltd. On September 2010 the Accountancy and Actuarial Discipline Board (AADB) set out an investigation into the conduct of [...]

US$100m Investment by PwC to Boost Infrastructure, Employment

US$100m Investment by PwC to Boost Infrastructure, Employment

PwC Africa has bared plans to invest US$100 million in hiring and infrastructure for the region in what it calls an “ambitious growth strategy.” The investment will focus on building an integrated advisory business and on recruiting an 8,000 additional partners and staff over the next five years. Last month, PwC acquired PRTM, a global [...]

New Life for Consulting Firm at PwC

New Life for Consulting Firm at PwC

Global accounting and consulting firm PricewaterhouseCoopers has acquired last week another consulting firm, a merger that is expected to boost PwC’s ” operational strategy, execution and business model innovation.” PRTM, a global management consulting firm, and PwC inked a definitive merger agreement that allows PwC to acquire the consulting firm. Since 1976, PRTM’s management consultants [...]

PwC Partner Resigns Amid Satyam Computers Issue

PwC Partner Resigns Amid Satyam Computers Issue

PricewaterhouseCoopers’s managing partner and markets and industry leader at its Indian office has resigned amid the heated issue on Satyam Computers. Jairaj Purandare, 51, PwC’ India’s managing partner who was contending for the chairmanship, confirmed his resignation but refused to shed light on the reason behind his move. For seven years, the partner had been [...]

Volatile Future for Mining Companies Expected

Volatile Future for Mining Companies Expected

A review by global accounting and consulting firm PricewaterhouseCoopers over 40 mining companies suggested that chief executive officers are optimistic about the future, though they expect volatility on the other hand. The eight annual review of global trends in the mining industry for 2011 presented in Johannesburg late last week noted that “foreign currency fluctuations [...]

Embezzled Flood Relief Donations Under PwC’s Scan

Embezzled Flood Relief Donations Under PwC’s Scan

Hundreds of thousands of pounds in flood relief donations handed by Britons to Oxfam UK have been embezzled, now under PricewaterhouseCoopers’s scanner as the accounting firm has been hired by the British charity. “Oxfam’s regular monitoring processes have found financial irregularities in an Oxfam programme for flood relief in Sindh, Pakistan,” Oxfam said in a [...]

‘Innovation a Matter of Survival’ For Businesses

‘Innovation a Matter of Survival’ For Businesses

Innovation has now outstripped all other means of potential expansion, including seeking new markets, mergers and acquisitions, and joint ventures and other alliances according to a survey by PricewaterhouseCoopers of 1200 CEOs from around the world. The survey showed that innovation in the form of developing new products and services has become as important to [...]

Failed Construction Company Calls in PwC Administrators

Failed Construction Company Calls in PwC Administrators

A construction company in Northern Ireland has turned to PricewaterhouseCoopers administrators after the firm went insolvent. Carvill Group, one of the leading construction companies in the region, announced that three of its companies would be placed into receivership. PwC administrators are currently assigned only to a holding company of Carvill Group while they are still [...]

Scandal Involving PwC Employee Ends Up in Imprisonment

Scandal Involving PwC Employee Ends Up in Imprisonment

After years of claiming bogus expenses in spending days and nights out with friends and co-staff, a PricewaterhouseCoopers (PwC) employee has plead guilty to a court order sending her to jail. This is the second internal scandal since November 2010 that shook the name of PwC, in which 17 male employees of PwC have forwarded [...]

Discard PricewaterhouseCoopers: BofA Investors Urged

Discard PricewaterhouseCoopers: BofA Investors Urged

The annual meeting at the Bank of America has rather produced unpalatable recommendations from a San Francisco-based proxy adviser against PricewaterhouseCoopers auditors, and the board of directors. Glass Lewis & Co. has urged BofA investors to trash the ratification of PricewaterhouseCoopers auditors and to tell BofA to look for another accounting firm instead. The proxy [...]

$1.1 Billion Error in Australian MNC? Yes, Says Mum PwC Partner

$1.1 Billion Error in Australian MNC? Yes, Says Mum PwC Partner

SYDNEY, Australia – In the latest development concerning the debt classification error in Australian MNC Centro Properties Group, a PricewaterhouseCoopers partner admitted he was silent on the matter on the belief that he needed not to say again what the firm’s accounting manager has already raised at a “high level.” Late in 2010, the Big [...]

‘Economic Pressures, Spending Cuts Lead to Financial Fraud’

‘Economic Pressures, Spending Cuts Lead to Financial Fraud’

A new report released by global accounting and consulting firm PricewaterhouseCoopers has revealed the reasons for the rise in financial fraud cases in the public sector, which grew by 8 percent year-on-year. Based on a survey among 110 senior representatives from state-owned businesses, financial fraud in the public sector has risen from 52 percent in [...]

Financial Fraud in Satyam Computers Paralyzes Former Accounting Firms

Financial Fraud in Satyam Computers Paralyzes Former Accounting Firms

In a more than 2 years of investigation into the major financial fraud in India’s IT service provider Satyam, which faces charges of falsified financials, regulators have, for the first time, dealt out the biggest penalty for a group of accounting firms involved in the crime. Five accounting firms in India under PricewaterhouseCoopers agreed to [...]

Revenue from Online Ads eXceeds £4bn Due to Facebook

Revenue from Online Ads eXceeds £4bn Due to Facebook

As online ads turn to social media such as Facebook to attract more customers, a report from an internet advertising body and PricewaterhouseCoopers showed that ad revenue has exceeded £4 billion for the first time last year. The annual report by Internet Advertising Bureau (IAB), compiled by PricewaterhouseCoopers, revealed that online ads in UK have [...]

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