PracticeAccounting FirmsPwC to resist non-audit restrictions

PwC to resist non-audit restrictions

Kieran Poynter, UK senior partner at PricewaterhouseCoopers, says the firm will resist any attempts by regulators to restrict its ability to sell tax services.

Link; Partners to be axed in Big Four efficiency drive

Poynter, in an interview with the Financial Times, said his firm would think long and hard before taking on audit clients that would not require any other services.

‘If somebody came to us and said: “We would like to you to tender for our audit on the basis you will do nothing else for us as a matter of principle”, then we would think long and hard before we would be prepared to pitch for that work,’ Poynter said.

He said PwC was most at risk due to the economic slowdown and regulatory changes as the firm has the greatest number of FTSE 100 audit clients of all the Big Four.

PwC has seen its income from tax work fall by up to 10% between 2002 and 2003, partly do to a slump in corporate finance deals, which involve tax work.

Related Articles

Johnston Carmichael CEO appointed as ICAS president

Accounting Firms Johnston Carmichael CEO appointed as ICAS president

3w Emma Smith, Managing Editor
British Accountancy Awards 2018 – entries open!

Accounting Firms British Accountancy Awards 2018 – entries open!

1m Emma Smith, Managing Editor
Is the accountancy sector facing an international talent crisis?

Accounting Firms Is the accountancy sector facing an international talent crisis?

1m Lewis Silkin
RSM appoints new Chief Operating Officer

Accounting Firms RSM appoints new Chief Operating Officer

1m Alia Shoaib, Reporter
RSM announces 11 partner promotions

Accounting Firms RSM announces 11 partner promotions

2m Emma Smith, Managing Editor
BDO hires former AstraZeneca creative director as head of digital and innovation

Accounting Firms BDO hires former AstraZeneca creative director as head of digital and innovation

2m Emma Smith, Managing Editor
What does the future hold for listed accountancy firms?

Accounting Firms What does the future hold for listed accountancy firms?

2m Fergus Payne, Lewis Silkin
EY, Deloitte lead Big Four in gender pay gap reporting

Accounting Firms EY, Deloitte lead Big Four in gender pay gap reporting

2m Emma Smith, Managing Editor