PwC set to lose Accenture audit
Big Five firm PricewaterhouseCoopers has been asked to resign its position as the auditor for Accenture, after failing to offload its consultancy arm.
According to an Accenture spokesman in the UK today, the decision was taken by the consulting firm because PwC has been slower than expected in selling off its consultancy arm.
The spokesman said the decision had to be taken because no assurances could be given by PwC as to when it would be making the sell-off.
According to an SEC filing, PwC is expected to resign its position as auditor at the end of the month.
Last year PwC’s bid to sell its consulting arm to Hewlett Packard collapsed.