Poynter's progress

January 2003
Accountancy;Jan2003, Vol. 131 Issue 1313, p18
Trade Publication
A conversion to limited liability partnership status has been on the cards for PricewaterhouseCoopers (PwC) LLP for some time, but Great Britain's biggest accountancy firm has finally decided to go ahead. As a slimmed-down PricewaterhouseCoopers embraces the benefits of limited liability, senior partner Kieran Poynter talks to the periodical 'Accountancy'. PwC has traditionally been notoriously shy about giving details of its Great Britain performance, but as an LLP it will have to publish its Great Britain results for the first time. The first set, part year to June 30, 2003, will appear in the autumn. Deloitte & Touche LLP also recently announcing plans to convert, closer comparison and scrutiny of the Big Four will become possible. Poynter says he's looking forward to it. On the question about PwC Poynter said that the consulting arm had formed a considerable portion, between a quarter and a third, of PwC Great Britain as a whole. However, its removal hasn't really changed the nature of the firm very much. Poynter is keen to emphasize the fact that PwC still does consulting work. On Great Britain's problem Poynter argued that the actual volume of restatement of accounts in Great Britain is tiny in the context of the number of accounts that are produced every year, and that the larger number of restatements in the U.S. is partly driven by the developing interpretation of the standards over there.


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