PricewaterhouseCoopers PwC Essay example
PricewaterhouseCoopers (PwC)is the world’s largest accounting firm and ranks as one of the giants in the global professional services arena. PwC employs over 146,000 people with 766 offices in 150 countries. The Firm is led by Samuel A. DiPiazza, CEO, and is headquartered in New York City on Madison Avenue. Its clients include 84 percent of the Fortune Global 500 companies. Price Waterhouse and Coopers & Lybrand merged in 1998, which made the combined firm the top player in public accounting. In the 2007 fiscal year, PwC had gross revenue of over $25 billion. Structured as a limited liability partnership (LLP), the private company would rank in the low 300s on the Fortune 500 companies.
History of PricewaterhouseCoopers …show more content…
Effects of a Changing Industry
Ranked by 2007 revenue, PwC was number one with $25.2 billion. The others trailed PwC with Deliotte at $23.1 billion, Ernst & Young at $21.1 billion, and KPMG at $19.8 billion, respectively. In terms of service lines, advisory and consulting services for all four firms combined grew 21.7 percent, from $18 billion to $21.9 billion. Tax services expanded by 18.4 percent, from $17.6 billion to $20.8 billion. Audit and assurance services, grew at the slowest pace