The importance of accounting standards
A PricewaterhouseCoopers case study

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Page 1: Introduction

Pricewaterhousecoopers 4 Image 4PricewaterhouseCoopers was created in July 1998 by the merger of two firms - Price Waterhouse and Coopers & Lybrand - each with historical roots going back some 150 years and originating in London. PricewaterhouseCoopers, the world’s largest professional services organisation, helps its clients build value, manage risk and improve their performance.

Drawing on the talents of more than 140,000 people in 152 countries, it provides a full range of business advisory services to leading global, national and local companies and to public institutions. These services include audit, accounting and tax advice; management, information technology and human resource consulting; financial advisory services including mergers & acquisitions, business recovery, project finance and litigation support; business process outsourcing services; and legal services through a global network of affiliated law firms.

Five things you didn’t know about PricewaterhouseCoopers

  1. To meet their growth targets they need to hire 1,000 people a week across the world.
  2. They will be the largest professional services firm in critically important emerging markets: Russia and the Former Soviet Union, India, China, Singapore, Malaysia and Latin America.
  3. The high technology practice will yield revenues in excess of $1 billion with over 2,500 technology clients.
  4. Work with Financial Services clients will represent more than 20% of PricewaterhouseCoopers’ international revenues.
  5. They are already investing $200 million a year in new technology.

A global enterprise

The new, combined organisation is the result of the continuing growth in the international economy. Companies are seeking to re-define themselves to thrive in the market-place where mergers and acquisitions are increasingly important and many companies now operate without geographical boundaries.

A large-scale global enterprise such as PricewaterhouseCoopers needs a solid infrastructure to meet its clients’ expectations. One element is a powerful database developed by PricewaterhouseCoopers that shares ‘best practice’ information with all its offices around the world. PricewaterhouseCoopers is also harnessing all available technology to ensure any of their advisers can work with their clients anywhere in the world, allowing them to be fully effective in serving the clients’ needs immediately.

They offer businesses around the world both a wider range of services and a more integrated service than has ever been possible. This service also provides a solution to business problems of a scale and complexity that are greater than ever before.

PricewaterhouseCoopers | The importance of accounting standards