The importance of accounting standards
A PricewaterhouseCoopers case study

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Page 2: An integrated team approach

Pricewaterhousecoopers 4 Image 5Until recently, professional services were recognised as distinct areas that were separate entities with little room for overlap or sharing of information. Now the boundaries between activities such as tax, audit and management consultancy are becoming blurred.
They provide a fully integrated team to tackle a company’s diverse problems. At PricewaterhouseCoopers, there are six service lines or departments which cover different areas of specialisation. They are:

  • Assurance & Business Advisory Services
  • Management Consulting Services
  • Tax & Legal Services
  • Financial Advisory Services
  • Global Human Resource Solutions
  • Business Process Outsourcing.

PricewaterhouseCoopers may work on one of these areas and find that the client requires help and solutions to issues in other areas. They are able to provide an integrated team of experts to give advice and offer a range of possible solutions. The first and largest of these service lines, the Assurance & Business Advisory Service is now considered in more depth.

ABAS - Assurance & Business Advisory Services

At PricewaterhouseCoopers the global practice they call ‘ABAS’ provides a broad range of services which fulfil three core business needs:

  1. Assurance - They conduct audits and provide assurance to clients on the financial performance and operations of their businesses.
  2. Global Risk Management Solutions - They help clients to manage their business risks and thereby improve financial performance.
  3. Transaction Services - They offer advice to clients about their significant transactions such as mergers & acquisitions activity. Some of the most exciting organisations from the world of banking, commerce and government come to them for advice. The client list is dominated by household names, with particular strengths in communications, financial services, retail, energy and manufacturing sectors.

Assurance

Assurance is the largest part of the UK practice for PricewaterhouseCoopers and generates income from a combination of audit and business advisory assignments. In addition to an audit, many clients require business advisory services. For example, they may provide advice on joint ventures or mergers, helping companies to ‘float’ their company on the Stock Exchange or assess whether the technology or systems in place provide an accurate means of reporting the financial data.

PricewaterhouseCoopers | The importance of accounting standards
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