PwC gets liability protection
PricewaterhouseCoopers welcomed in the New Year with the confirmation of its switch to a limited liability partnership in the UK.
Link: PwC to become LLP
The change, which came into effect on 1 January, will provide the firm’s partners with protection against catastrophic negligence claims by safeguarding their personal assets.
The move to LLP will also provide greater transparency of its accounts, as all limited liability partnerships will have to produce a full set of company accounts.
Kieran Poynter, senior partner at PwC, said: ‘[LLP status] will help us to continue to attract, retain and develop the talent we need to meet our client’s needs.’