2013-12-29 18:33:09 - New Business market report from MarketLine: "PricewaterhouseCoopers International Limited: Return to consulting"
On October 30, 2013, PricewaterhouseCoopers International Limited (PwC) announced that it had signed a conditional merger agreement with Booz & Company (Booz), a global management consulting firm. This represents PwC's latest attempt to grow its presence in the management consulting market, which it had all but exited in 2002 amidst regulatory pressures.
Features and benefits
* This case study looks at the effect of consulting on the rest of the big fours' operations, and how this has influenced PwC's return to the market.
* This report analyzes the reasons behind the proposed merger between PwC and Booz & Company, and how it can benefit both parties.
Full Report Details at
- www.fastmr.com/prod/759010_pricewaterhousecoopers_international_ ..
The Sarbanes-Oxley Act was signed into effect in the US
on 30 July, 2002, and specified that auditors could not offer certain non-audit services to their audit customers. As a result, PwC sold PwC consulting to International Business Machines Corporation (IBM) in a deal that coincided with the signing of the new legislation.
Deloitte's decision to retain its consulting business in the wake of the Enron scandal has meant that it has overtaken PwC as the largest of the big four by revenues in 2013, as its growth has been buoyed by the strong performance of its consulting and financial advisory segments.
Booz operates at the high end of the consulting market, which will lend credence to PwC's integrated consulting offering in the future and allow it to target top-level clients.
Your key questions answered
* Why did PwC exit the consulting market in 2002?
* How have the rest of the big four grown their presence in consulting in recent years?
* Why is PwC feeling the need to grow its consulting operations?
* Why has PwC proposed a merger with Booz & Company, and what are the potential advantages and disadvantages of the move?
* How has the business landscape of the big four changed in recent years?
Report Table of Contents:
PWC'S HISTORICAL POSITION IN THE CONSULTING MARKET
PwC Consulting was a key source of revenue
The Enron scandal led to the demise of Andersen
The Sarbanes-Oxley Act impacted PwC's consulting business
PwC sold its consulting business to IBM in
THE RETURN TO CONSULTING
The consulting market is outperforming accountancy
Deloitte has replaced PwC at the top of the big four
PwC and its competitors are consolidating the market
E&Y and KPMG have made a number of consulting related acquisitions in recent years
PwC has made some big acquisitions to boost its global consulting business
Deloitte has consolidated its position and altered the market trajectory through acquisitions
WHY MERGE WITH BOOZ & COMPANY?
Booz has a long, prestigious history
A strategic, high-end focus will complement PwC's existing consulting operations
Booz's size and geographical reach will substantially boost PwC's consulting revenues
Booz operates at the top of the consulting market, despite its smaller size
Regulation and culture clashes remain as potential issues
The big four are becoming 'one-stop-shops' for consulting services
Booz offers PwC a direct response to Deloitte
Ask the analyst
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