Latest PwC Headlines
All the headlines from our PwC Topic Page, ordered by recency.
PwC Weighs Halving of China Financial Services Audit Staff, Sources Say
Jul 16 2024 // PricewaterhouseCoopers (PwC) is considering slashing up to half its financial services auditing staff in China, two people with knowledge of the matter said, as a regulatory investigation and an exodus of clients darken...
PwC Starts Mass China Layoffs After Losing Dozens of Clients
Jul 10 2024 // PricewaterhouseCoopers LLP is cutting staff across its China operations, according to people familiar with the matter, after an exodus of corporate clients diminished the accounting firm’s revenue prospects in the...
‘Great Resignation’ Enters Third Year as Workers Embrace AI, Upskilling, PwC Says
Jun 26 2024 // The proportion of workers who expect to switch employers in the next 12 months is higher than that from the “Great Resignation” period of 2022, a PwC survey of the global workforce found. Around 28% of more...
Evergrande Liquidation Lawyers Probe PwC, Others to Recoup Creditor Losses: Sources
Jun 14 2024 // Lawyers appointed by the liquidators of China Evergrande Group 3333.HK are investigating some of the property developer’s service providers including its former auditor PricewaterhouseCoopers, to potentially recoup...
China Weighs Record Fine for PwC Over Evergrande Audit Work
May 30 2024 // China is poised to impose a record fine on PricewaterhouseCoopers LLP and suspend some of the global auditor’s local operations over its role in one of the nation’s biggest alleged financial fraud cases,...
PwC Lost Five China Clients After Evergrande-Linked Probe
May 29 2024 // PricewaterhouseCoopers LLP lost five Chinese clients in May alone, adding to a list of more than a dozen firms its stopped auditing in the country in the last two years. China Taiping Insurance Holdings Co. said on May 27...
AI-Intensive Sectors Are Seeing Productivity Surge: PwC
May 21 2024 // The types of business which are most likely to use artificial intelligence are seeing growth in workers’ productivity that is almost five times faster than elsewhere, raising hopes for a boost to the broader economy,...
China Scrutinizes PwC Role in $78 Billion Evergrande Fraud Case
Mar 22 2024 // Chinese authorities are examining the role of PricewaterhouseCoopers LLP in China Evergrande Group’s accounting practices after the developer was accused of a $78 billion fraud, ramping up pressure on the global...
Storm Henk Causes Estimated £150 Million in UK Insured Losses: PwC
Jan 10 2024 // Storm Henk, which battered Britain last week, caused around 150 million pounds ($190 million) in insured losses and damaged around 2,000 properties, consultants PwC said on Wednesday. Heavy rain caused major rivers to...
People Moves: WTW Hires Bryce From Magnes for Personal Lines, Canada; Markel Taps PwC’s Feng as Warranty & Indemnity U/W; RSA Names Godfrey as Transformation Dir.
Aug 11 2023 // This edition of International People Moves details appointments at WTW, Markel and RSA Insurance. A summary of these new hires follows here. WTW Hires Bryce for Personal Lines, Canada Insurance broker WTW announced the...
Australia Cracks Down on Promoters of Dodgy Tax Schemes After PwC Leak Scandal
Aug 7 2023 // Australia will drastically toughen penalties against promoters of dodgy tax schemes and beef up regulatory powers under reforms announced on Sunday in response to a scandal over the use of leaked fiscal plans by PwC...
PwC Australia Asset Sale Unlikely to Repair Firm’s Tarnished Reputation: Experts
Jun 27 2023 // PwC Australia’s sale of its government consulting business may give it temporary respite from a crisis in its tax practice but is unlikely to repair its toxic brand in the country anytime soon, according to...
PwC Probes Security Incident Tied to Russian-Speaking Clop Cyber Gang
Jun 23 2023 // A criminal hacking gang has added more names to its lists of alleged victims from a recent campaign that exploited a vulnerability in a popular file-transfer product. The group, known as Clop, threatened to post internal...
Americanas’ $4B Accounting Scandal Puts More Scrutiny on PwC’s Auditing Record
Feb 8 2023 // A $4 billion accounting shortfall would typically raise alarm bells for an auditor. Somehow, a PricewaterhouseCoopers LLP affiliate didn’t catch it at Americanas SA. Investor and consumer groups are calling for...
Double Whammy of Insurance and Energy Costs to Trigger UK Insolvencies, PwC Warns
Jan 26 2023 // More than 30,000 British companies went bust last year, with accountants warning of a “double whammy” to come in April that could trigger another wave of insolvencies. Big businesses were the worst hit,...
UK Financial Services Firms Fear Rise in Loan Defaults: CBI/PwC Survey
Jan 12 2023 // An increasing number of the UK’s financial services firms expect a rise in loan defaults in the next three months, the latest reminder of a gloomy economic outlook. A balance of 23% of respondents to the CBI/PwC...
PwC Sued by Auditor Over Head Injury Suffered During ‘Pub Golf’ Work Event
Aug 23 2022 // An auditor at PricewaterhouseCoopers LLP sued his employer over a serious head injury he suffered during a work event that “encouraged excessive consumption of alcohol.” Michael Brockie alleges in London suit...
People Moves: Chubb Global Markets Promotes Kirk to Head of Marine; WTW Hires PwC’s Tahir Thomson for Risk & Capital Mgmt.; BMS Names 4 Senior Leaders in Asia
Jul 7 2022 // This edition of International People Moves details appointments at Chubb Global Markets and two brokers, Willis Towers Watson (WTW) and BMS. A summary of the new hires follows here. Chubb Global Markets Promotes Kirk to...
People Moves: Pancoast Moves to Ironshore E&S; PwC’s Coggins Leads Actuaries; McLean Joins Lockton from Willis
Nov 8 2021 // Pancoast to Head Ironshore’s E&S Primary Casualty Adam Pancoast has been named to lead the excess and surplus Primary Casualty business of Ironshore, a Liberty Mutual company. As national manager, E&S...
People Moves: PartnerRe’s Hanhart to AXIS Re; Zurich Names Verkerk to New Role of Chief Platform Officer; PwC’s Maxwell to MS Amlin as CRO
Jul 2 2021 // These International People Moves include appointments at AXIS Re, Zurich Insurance Group and MS Amlin. Details of these new hires follows. AXIS Re, the reinsurance business segment of AXIS Capital Holdings Ltd., announced...
