September 27, 2021

Before You Ask, PwC and Booz & Co Are Ironing Out the Kinks As We Speak So Just Chill

The news, in case you missed it this morning:

PricewaterhouseCoopers said on Wednesday that it had agreed to buy the consulting firm Booz & Company, bolstering its advisory business.

Financial terms of the transaction were not disclosed, though Booz & Company is expected to be PricewaterhouseCoopers’s biggest acquisition in several years.

Still, the union of the two firms is likely to bring scrutiny from regulatory agencies around the world as it again raises the issue of an accounting firm’s buildup of consulting businesses that could pose conflicts of interest.

Of course, while "regulatory agencies" are working out their scrutiny, Francine is already on top of it:

It's cool, guys, they're on it. No need to involve the regulators, trust us.

PricewaterhouseCoopers and Booz & Company have taken steps to quell any concerns, according to people briefed on the matter. The two companies are expected to review client matters, with Booz partners expected to drop consulting assignments that conflict with existing auditing clients.

Booz & Company partners are expected to vote on the deal in December, with an update on the merger to come by the end of the year. The people briefed on the matter added that they expected PricewaterhouseCoopers to retain the vast majority of Booz’s partners.

See? There you have it. Stop trippin, yo.

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

KPMG Poaches Someone From PwC and Issues a Press Release, Part XVI

It looks like the hot spots for Big 4-on-Big 4 poaching lately are the U.K. and Australia, where KPMG Down Under recently made champagne wishes and caviar dreams come true for one PwC managing director. Australian Financial Review reported: Sally Torgoman, 38, has joined KPMG as a partner in the firm’s infrastructure business. Ms Torgoman was […]