I got a lot of mail yesterday telling me about PwC’s move to reorganize their global network, ostensibly to follow the lead of EY, KPMG and Deloitte to a better, more efficient, seamless global network to serve their global clients.
Alex Hawkes, Accountancy Age, 20 Aug 2008
Firm sets up three ‘clusters’ to bring national firms closer together
PricewaterhouseCoopers, the world’s largest audit firm, is to jump on the international merger bandwagon, forming international ‘clusters’ for its networks of firms.
Following a path laid down by Ernst & Young, the smallest of the Big Four in the UK, PwC has announced today that it is to form three major geographic ‘clusters’…
…Agility and speed are crucial to the future success of our clients and PwC itself. These adjustments to our organisational structure will improve the integrated service we offer and align our strategy more closely around the world.
‘The revised structure, and the expanded set of network standards that accompany it, are rooted firmly in the partnership culture that has made PwC the leading professional services network in the world. While our member firms will be more closely aligned and more responsive, they will continue to be locally owned and managed, preserving the high level of accountability to our stakeholders and regulators, while encouraging the entrepreneurial spirit that has been the foundation of their success. These changes preserve our approach of a global service delivered locally.’
From J. Hughes at FT:
I beg to differ. When the biggest of the Big Four announces plans to align its member firms more closely and introduce “enhanced” standards across its network, – many of whom will be its clients – and to the multiple regulators who oversee it…