PracticeAccounting FirmsBig Four: PricewaterhouseCoopers

Big Four: PricewaterhouseCoopers

The past 12 months will be forever remembered as a time of great upheaval in the world of accountancy and business.

PricewaterhouseCoopers this year finally toppled Ernst & Young from its long-held pole position to become the Big Four firm of the Year at the Accountancy Age Awards for Excellence.

In the wake of this year’s myriad US accounting scandals, it has been PwC’s voice that has sounded the loudest.

Many of its most senior partners, such as Rodger Hughes and Roger Davis, have used the opportunity to explain the dry topics of audit and governance to a public mostly uneducated and often overexpectant of what accountancy can rightly achieve.

PwC stood back from the scramble to take over Andersen UK and swiftly – and with much foresight – took in the embattled firm’s practices in key locations such as Hong Kong and China.

And it is the firm’s insolvency team that has been busying itself with selling off Enron Europe as a going concern. It is one of the most complex administration cases that has arisen in the last decade.

Our judges were direct in their praise. ‘It’s simply a leading firm,’ said one.Despite the ongoing turmoil, after a few false starts and with a backdrop of economic instability, PwC finally sold off its consulting arm to IBM. The firm is now due to publish its full accounts by country when it becomes a limited liability partnerships probably next year.

On an international scale, the firm has done much to prepare its clients, regulators, preparers and users of accounts for the onset of international accounting standards due to take full effect in the UK from 2005.

It is also a lead player in championing the debate in support of the ‘principles over rules’ approach to accounting and auditing standards.

PwC’s awards entries have consistently been of high calibre but this year the judges thought it was a clear winner. Our panel said the firm successfully met the criteria. Judges wanted to see how an entire firm across all service areas had helped to give clients significant competitive advantage. PwC has clearly done that.

The judges were extremely impressed by not only the firm’s presentation of its work but also the content, particularly the case studies put forward.

Related Articles

BDO’s global revenues pass $8bn

Accounting Firms BDO’s global revenues pass $8bn

4d Alia Shoaib, Reporter
Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

Accounting Firms Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

6d Philip Smith, Reporter
Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

Accounting Firms Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

1w Emma Smith, Managing Editor
BDO reports revenue growth of 5.7%

Accounting Firms BDO reports revenue growth of 5.7%

2w Alia Shoaib, Reporter
Taylorcocks announces merger with Surrey firm

Accounting Firms Taylorcocks announces merger with Surrey firm

2w Emma Smith, Managing Editor
Kingston Smith reports 7% gender pay gap

Accounting Firms Kingston Smith reports 7% gender pay gap

2w Emma Smith, Managing Editor
RSM announces two partner promotions

Accounting Firms RSM announces two partner promotions

3w Emma Smith, Managing Editor
Backsourcing: The latest accountancy trend?

Accounting Firms Backsourcing: The latest accountancy trend?

1m Pillsbury Winthrop Shaw Pittman