Introduction to PricewaterhouseCoopers
Officially known as PricewaterhouseCoopers, PwC is an international global services firm with headquarters in London, United Kingdom. Besides being one of the members of the ‘Big-4’ accountancy firms, PwC is also the world’s largest professional services firm by revenue. Also, PwC has its offices in about 757 cities across 154 countries and 175,000 employees. The firm came into existence in 1998 through a merger between Coopers & Lybrand and Price Waterhouse. The trading name was thus shortened to PwC in September 2010 as a part of key rebranding exercises.
Price Waterhouse Coopers, the company
“PwC” is the brand name holding number of firms of Pricewaterhousecoopers International Limited (PwCIL) in it. Found in the year 1998, Price Waterhouse Coopers is a merger between two firms Price Waterhouse and Coopers & Lybrand with the two companies being in existence since the early nineteeth century. Price Waterhouse Coopers is headquartered in London, UK.
Price Waterhouse Coopers is known for its outstanding corporate finance accounting services which provide services like audit, tax analysis, business compliances, corporate finance, risk management, security and other such services that are on par with the latest in the financial industry. The Price Waterhouse Coopers follows a code of conduct throughout its global centres and make sure that all the rules and regulations set by the firm are abided by.
The customer relationship is based on mutual trust and the clients have always been provided with the best in financial services, after through assessment of facts and figures and also keeping in mind the clients needs and requirements. The professionals working for Price Waterhouse Coopers are proactive and have greater knowledge on the know-how of the business and provide with prompt and quick calculated decisions that help their clients on the business front.
Every company has its corporate responsibility which it works towards and same goes with Price Waterhouse Coopers. Price Waterhouse Coopers focuses on education and climate change. Price Waterhouse Coopers and its various global centres works together as one on improving the effects this business has over the two fields that they concentrate on. By promoting corporate responsibility Price Waterhouse Coopers believes in making a difference in the society at a larger extent.
The legal structure of a LLP (Limited Liability Partnership) is quite different from that of a Corporation. Moreover, an international firm is, in actual fact, an amalgamation of member firms, which are run individually in their respective jurisdiction. The member firms’ senior partners sit on a global board of partners. Besides, there also exists an ‘umbrella’ company named PricewaterhouseCoopers International Limited, a UK based firm that provides co-ordination.
Name and Branding
The name of the firm PricewaterhouseCoopers was obtained from the combination of the names of Price Waterhouse and Coopers & Lybrand. In September 2010, PricewaterhouseCoopers, rebranded as PwC introduced a new logo, even though the legal name of the firm was still PricewaterhouseCoopers.
Moreover, every individual national firm of PwC is an individual legal entity under the umbrella of PricewaterhouseCoopers International Limited.
The PwC firm provides different services in distinctive fields like tax including tax on transactions, tax management and accounting services and tax investigations besides tax valuations; audit and assurance, consulting, business recovery, corporate finance, human resources, strategy, transaction services, sustainability and climate change, forensic services, PwC Legal LLP, and Actuarial services that include financial modeling, financial reporting, and risk & capital management.
The main clients of PwC are Europe and North America, accounting for 81% of PwC’s annual revenue, with Europe alone accounting for 45%. The dominant practice of the firm, lying in auditing, accounts for over 50% of the PwC’s revenue. Besides, PwC audits 40% of companies in the FTSE 100 Index and 45% of the Fortune 1000 energy companies.
Awards and Recognition
Price Waterhouse Coopers has been named one of Fortune’s 100 best companies to work for from 2005 till 2011.
Price Waterhouse Coopers has been ranked 4th as the World’s Most Admired Knowledge Enterprises in the 2010 Global Make Study.
Price Waterhouse Coopers has been awarded the Best Use of Blended Learning, Gold Brandon Hall Excellence in Learning Award in 2011.