World's biggest firm considering splitting into three
PricewaterhouseCoopers is nearing a decision on a reorganisation that could see the firm split in three, it has been reported.
The three entities would broadly comprise accountancy and audit, consultancy and the firm’s remaining activities, which mostly involve tax, legal and human resources services, the Financial Times reported from New York today.
It said a decision by executives is thought likely within a month and would then need approval by the firm’s 10,000 partners.
The firm is also reported to be discussing strengthening the links between its consultancy arm and technology companies following its announcement in December of an alliance with Microsoft and Sun Microsystems.
PwC has been recently hit by a crackdown by the US Securities and Exchange Commission on auditor independence.