PwC (PricewaterhouseCoopers) is a public accounting firm. It is one of the "Big Four" accounting firms that provides audit, tax, and consulting services to clients, including many publicly traded companies. As a public accounting firm, it is a separate legal entity, often operating as a partnership, that serves external clients.
As a public accounting firm, PwC and its partners, employees, third-party contractors and their immediate family members must be independent of PwC's audit clients, including their affiliates, to comply with applicable independence regulations.
A significant majority of the audits of public companies, as well as many audits of private companies, are conducted by these four networks. Until the late 20th century, the market for professional services was dominated by eight networks which were nicknamed the "Big Eight".
PwC's Private Equity Group brings together a multi-disciplinary team dedicated to serving PE firms and their portfolio companies. The PE Group has a proven track record and is uniquely placed to provide a partnership across the PE lifecycle.
If you are in the accounting field, the term “Big 4” is no mystery to you. This title refers to the four largest professional services networks in the world: Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), and Klynveld Peat Marwick Goerdeler (KPMG).
Firms in the PwC network are members in, or have other connections to, PricewaterhouseCoopers International Limited (PwCIL), an English private company limited by guarantee. PwCIL does not practise accountancy or provide services to clients.
The Big 5 consulting firms refer to the five largest global management consulting firms: Deloitte, PwC, EY, KPMG, and Accenture. These companies provide diverse services that span management consulting, technological solutions, strategic planning and human resource advice.
Overview. Ernst & Young Global Limited (EY) is a privately held company headquartered in London, United Kingdom. Ernst & Young Global Limited is the guiding organization for the network of professional services firms that together make up Ernst & Young, or EY.
“Typically, the hours that public accounting professionals work is significant. Some people reach a point where they are looking for a better balance, so they move out of public accounting,” says Marc Basil, senior director of financial search with Chicago-based recruiting firm Brilliant.
The "Big 5" accounting firms were Deloitte, Ernst & Young (EY), KPMG, PricewaterhouseCoopers (PwC), and Arthur Andersen; however, after Arthur Andersen collapsed following the Enron scandal in 2002, the industry consolidated into the current "Big Four": Deloitte, PwC, EY, and KPMG, which remain the largest global accounting networks.
It is a network of firms operating under the coordinating entity PricewaterhouseCoopers International Limited (PwCIL). All firms are locally owned because of legal requirements. Additionally, all firms are separate legal enterprises. The network includes approximately 800 offices in about 160 countries.
The top 10 largest accounting firms by revenue:
PwC is widely considered to be the world's most prestigious and progressive accounting firm. It offers extensive career development opportunities, including formal coaching and mentoring, informal mentoring, excellent trainings, and clear promotion paths.
PwC's consultancy business was sold to IBM for approximately US$3.9 billion in cash and stock. This nearly doubled the number of consultants within IBM Global Services, adding 30,000 consultants in 52 countries.
Paul Griggs is US Senior Partner and CEO of PwC, having been elected by his fellow partners.
The Recruitment process
The single most important certification needed for a Big 4 career is a Certified Public Accountant (CPA) license. Becoming a CPA shows that you have the skills and knowledge to offer top services, plus the authorization to perform any needed task for the firm.