PwC's return to consultancy sparks conflict allegations

Posted by AccountingWEB PM | on Wed, 27/05/2009 - 16:46 6987 3 comments

On Wednesday, a court hearing in New York considered a $25m bid from PricewaterhouseCoopers (PwC) for the North American commercial services wing of failed consultancy BearingPoint (formerly KPMG Consulting). John Stokdyk reports on the implications surrounding the Big Four firm's return to the consultancy marketplace.

Continued...

Update on Court hearing for BearingPoint assets

fmckenna | Thu, 28/05/2009 - 13:30 | Permalink

Hi John,
Thanks for making the correction. I have heard that the auction, which is a requirement of the bankruptcy court, may be competitive, including perhaps another Big 4 firm. (At that price it should be...) But sources tell me PwC has a firm price it will not go above. I would rather see the assets outside of Big 4 hands as I don't think either Deloitte or PwC deserve them.

Thanks for clarification

John Stokdyk | Thu, 28/05/2009 - 09:45 | Permalink

The sentence in question has been amended to reflect your correction, Francine.

Thanks, too, for alerting us to what is a pretty major issue for the profession. So far, I haven't been able to establish how the court hearing went, or what its decision is likely to be. Have you heard any news?

John Stokdyk
Technology editor
AccountingWEB.co.uk

Clarification

fmckenna | Wed, 27/05/2009 - 19:30 | Permalink

To clarify: I sought information regarding authority over the acquisition of other firms by the audit firms from the PCAOB only, their direct regulator in the US.