13 December 2007
Global Public Policy Committee of the large accounting networksIn response, the world's six largest accounting networks under the auspices of the Global Public Policy Committee are issuing a paper today to enhance awareness of the requirements of International Financial Reporting Standards (IFRS) in relation to the determination of fair values of financial assets and liabilities and related disclosures in the context of current market conditions. The paper does not amend or interpret IFRS - it sets out the requirements of existing IFRS literature only. The paper is similar to that issued recently in the United States by the Center for Audit Quality with regard to US GAAP.
26 November 2007
PricewaterhouseCoopers global report on the future of work to 2020 reveals "millennials" expectations of work and careersPwC surveyed nearly 3,000 graduates from China, the U.K. and U.S, and leveraged a scenario planning methodology to predict how companies can best manage employees and outsourced talent in the future.
21 November 2007
Confidence high among family business owners -- But many are not making adequate provisions for the future, new survey suggestsThis first ever global survey of almost 1,500 family businesses in 28 countries also reveals that this rises to 56% when looking at companies with a turnover of less than €50m a year and 60% when looking at companies that were founded in the last 20 years.
20 November 2007
Paying Taxes 2008: Paying Taxes Is Getting Easier but More Reform Is NeededTax reforms that make it easier for firms to pay taxes can increase government revenues by broadening the tax base, says a new report launched today by the World Bank, IFC, and PricewaterhouseCoopers. Paying Taxes 2008, the second report in an annual series on tax systems, covers 178 countries worldwide. The report concludes that there is a win-win opportunity for governments and firms if governments simplify tax systems, ease the compliance cost on business, and reduce tax rates.
6 November 2007
The International Business Leaders’ Advisory Council for the Mayor of Shanghai names PricewaterhouseCoopers Chief Executive Officer Sam DiPiazza as the new ChairmanPricewaterhouseCoopers International Chief Executive Officer Samuel A. DiPiazza, Jr is honoured to be appointed as the new Chairman of the International Business Leaders’ Advisory Council (IBLAC) for the Mayor of Shanghai. The Mayor and IBLAC bestow this important and prestigious accolade every two years on a distinguished business leader in recognition of their professional accomplishments, commitment to society and their potential to contribute to the future of the city of Shanghai. Mr DiPiazza’s appointment will cover 2008 and 2009, and will include the celebrations of the IBLAC’s 20th anniversary next year.
6 November 2007
PricewaterhouseCoopers CEO appointed Chair of World Business Council for Sustainable DevelopmentTPricewaterhouseCoopers International CEO Samuel A. DiPiazza, Jr. has been elected Chairman of the World Business Council for Sustainable Development (WBCSD). Mr. DiPiazza will succeed Travis Engen, CEO of Alcan Corp. on 1 January 2008 and is the first representative from a professional services organisation to chair the Council.
16 October 2007
Economic crime is pervasive at companies worldwide, average losses from fraud increased by 40% in two yearsDespite heightened efforts at regulation and control, fraud remains a major threat to companies around the world. Nearly half of all organisations, about the same level as in 2005, reported they were victims of some form of economic crime in the past two years
10 October 2007
Global light vehicle assembly to increase by 19% by 2014This is just one of the findings of the ninth annual ‘Global Automotive Financial Review’ by PricewaterhouseCoopers which includes a summary of financial data, trends and practices reported by leading global vehicle manufacturers and suppliers. These comprise 16 global vehicle manufacturers and 22 global suppliers, 18 of which generated more than $10 billion each in revenue during 2006. The review of the global automotive industry also looks at the developments in the mature, yet dynamic, markets in Japan, North America and Western Europe.
8 October 2007
Managing tomorrow’s people: The future of work to 2020Nearly 3000 graduates from China, the UK and the US were asked about their expectations of work and careers. The findings give a valuable insight into the minds of ‘millennial’ professionals and also reveal far-reaching implications for the future of people management.
1 October 2007
PricewaterhouseCoopers 2007 revenues rise 10.5% to US$25.2 billionRevenues for PwC's global Advisory service line increased 14.6 per cent in FY2007 to US$5.7 billion driven by a large volume of deals-based activity and strategic emphasis on priority services and clients. Global Tax revenues increased by 15.1 per cent to US$6.3 billion, again boosted by growth from M & A - related activities.
19 September 2007
PricewaterhouseCoopers Canada celebrates 100 years of excellenceFrom that modest beginning, PwC is now celebrating its 100th year anniversary and has grown to become a national organization with over 5,200 partners and staff in 25 locations across Canada. As well, PwC Canada is an integral part of the world’s largest professional services firm, which in total incorporates more than 140,000 people in 149 countries. The story of the Canadian firm is now told in a commemorative book entitled “100 Years of Excellence”.
12 September 2007
North American sawmill profits lowest in the world in 2006 and Q2 of 2007: global benchmarking reportSawmills throughout the U.S. and Canada achieved dismal operating results in 2006 where the profits at average1 mills were barely positive and slipped into negative territory in the second quarter of 2007, when lumber prices collapsed to below the cost of production. The cost of logs delivered to the mills has generally been rising in North America and, in conjunction with low lumber prices, has caused sawmills to incur deep operating losses not seen since 1991. These and other findings were released today in the latest issue of a report published by International WOOD Markets, PricewaterhouseCoopers, and The Beck Group.
10 September 2007
New security survey shows organizations are strong on infrastructure, weak on monitoring and enforcementOrganizations worldwide are investing in infrastructure but lagging in implementation, measurement and review of security and privacy policies according to the 5th annual Global State of Information Security Survey 2007, a worldwide study by CIO magazine, CSO magazine and PricewaterhouseCoopers.
10 September 2007
Chemical industry tax rate increases globally, reports PricewaterhouseCoopersGlobal chemical companies' effective tax rates have increased slightly at 2.4 percent between 2003 and 2005, according to PricewaterhouseCoopers’ second annual Tax Benchmarking Survey for the Chemical Industry, released today. The three-year average effective tax rate (ETR) for the 46 leading global chemicals companies included in this study is 29.5 percent.
30 August 2007
Corporate venture capital investment at highest levels since 2001TIn the first two quarters of 2007, corporate venture capital groups participated in 21.4 percent of the total deals and invested 9.2 percent of the total dollars. This compares favorably to the same period in 2006 when corporate venture capitalists invested $1.0 billion into 352 deals, accounting for 19.8 percent of all deals and 7.5 percent of total dollars.
10 August 2007
PricewaterhouseCoopers LLP welcomes the Framework Directive on Solvency IIPricewaterhouseCoopers LLP has welcomed the publication by the European Commission of the Draft Framework Directive about the future of insurance regulation in the EU.
9 August 2007
Automotive Companies Must Start at the End When Moving EastAn increasing number of automotive manufacturers and suppliers are flocking to Central and Eastern Europe, drawn by the prospect of cost savings and new markets. But a common stumbling block is that companies do not begin by defining the ‘end state’ they want to achieve.
26 July 2007
Global Forest Products Sector Posts Mixed Financial ResultsFinancial results for the world’s 100 largest forest, paper and fibre-based packaging products companies showed distinct differences in the major producing regions. The top three regions in terms of return on capital employed (ROCE), a key measure of performance were: Latin America, followed by China, and South Africa.
9 July 2007
PricewaterhouseCoopers Appoints New Senior Partner For Continental EuropeMarkus Neuhaus, CEO of PricewaterhouseCoopers Switzerland, has been appointed as Senior Partner of Eurofirms, PwC’s continental European organisation. He will succeed Wolfgang Wagner in this role. Markus Neuhaus will retain his role as CEO of PwC Switzerland.
8 July 2007
Businesses Looking To Invest In Emerging Markets Should Look Beyond The BRIC Countries, New Report SuggestsCompanies considering direct investment in emerging economies should look at a broad range of possible destinations and weigh up the balance of both risk and reward when making their final decision, according to a new report from the emerging markets group at PricewaterhouseCoopers LLP
5 July 2007
South America Becomes a Global Player in the Forest, Paper and Packaging SectorProjections indicate that by 2011, five of the top ten market pulp producers will be based in South America, compared with two at the end of 2006. Sector opportunities and rewards fall into two broad categories – namely as a low-cost supply base for forest products, especially pulp, and as a growing market for forest, paper and packaging products.
21 June 2007
Spending on Convergent Platforms Will Exceed 50% of Global Entertainment & Media Spending by 2011Double-digit growth is expected for digital and mobile spending in each territory during the next five years rising to $153 billion by 2011. Spending related to the distribution of entertainment and media on convergent platforms (convergence of the home computer, wireless handset and television) is also growing at double-digit rates and will exceed 50% of global spending by 2011.
20 June 2007
Local Talent Vital to China’s Economic DevelopmentPricewaterhouseCoopers Global CEO Sam DiPiazza said the firm is committed to developing more local Chinese talent and to supporting the accounting profession in China, following an announcement today that PwC has appointed 55 new partners for its mainland China and Hong Kong practice.
20 June 2007
Mining Sector Profits Up 64%A report by PricewaterhouseCoopers, 'Mine - Riding the wave', shows that 2006 was another spectacular year for the global mining industry with net profits rising by 64%. The annual study is now in its fourth year and provides a comprehensive analysis of the financial performance and position of the global mining industry. It looks at 40 of the world’s largest mining companies which represent over 80% of the global industry by market capitalisation, from across the globe and based in 14 different companies. It also discusses the current global trends affecting the sector.
19 June 2007
PricewaterhouseCoopers to Provide Auditing Services to 2007 Special Olympics World Summer Games in ShanghaiThe 2007 Special Olympics World Summer Games Executive Committee today named PricewaterhouseCoopers (PwC), the world’s largest professional services firm, as the auditing services provider for this year’s World Summer Games, to be held in Shanghai, China’s financial capital, come October.
14 June 2007
Intellectual Property – The Currency of TomorrowDespite a growing awareness of the importance of Intellectual Property assets to the future success of their companies, over half the technology executives questioned for a recent PricewaterhouseCoopers report don’t believe that they are currently extracting the full value of their IP. When asked about the importance of IP for their companies in the next 3-5 years, a staggering 85% said that it would increase in importance for their organisations.
14 June 2007
Power Utility Companies Press the Clean Fuel and Efficiency AcceleratorA huge shift in thinking and action around energy efficiency and cleaner fuels is taking place in the power utilities sector, according to the ninth annual PricewaterhouseCoopers report ‘Energy and Efficiency: Utilities Global Survey 2007’.
13 June 2007
Global Pharma Market Predicted to More Than Double In Value to $1.3 Trillion by 2020: Industry Must Transform to Capitalise On OpportunitiesBy 2020 the E7 countries - Brazil, China, India, Indonesia, Mexico, Russia and Turkey - could account for as much as one fifth of global pharmaceutical sales.
23 May 2007
Asia’s Frenzied Financial Services Deal Environment Increases Risk of Over PayingThe surge of M&A activity seen in 2006 in the financial services industry in Asia will continue over the next five years. High levels of economic growth across the region will continue to attract investment, boosting demand for a limited supply of quality assets, thereby increasing the risk of overpaying, according to the findings of ‘Financial Services M&A: Going for growth in Asia’, an annual survey from PricewaterhouseCoopers, conducted in association with the Economist Intelligence Unit.
21 May 2007
Partnership Rather Than Procurement is New Path to Effective Outsourcing, According to PricewaterhouseCoopers New 2007 Global Outsourcing SurveyThe study explores a key issue raised by CEOs in PricewaterhouseCoopers’ Annual CEO Survey at Davos and reflects insights garnered from both outsourcing customers and providers representing 19 countries across several continents.
21 May 2007
Asia To Be the Powerhouse of Global Pharmaceutical IndustryFifty-eight percent of companies believe the centre of gravity of the global pharmaceutical market will be in Asia rather than North America and Europe in the near future.
18 May 2007
Corporate Programs to be Honored with Global Citizenship AwardsThe Awards will recognize and honor three specific corporate programs that either prepare employees and families for effective international assignment, or foster exemplary goodwill in the international communities in which the company does business.
10 May 2007
Forest and Paper Sector is Riding a Wave of Suboptimal Earnings and Many ChallengesAlthough sales of the 100 largest forest and paper companies around the world have been creeping up, the 2006 Return on Capital Employed (ROCE) — a key industry metric of financial health — of 4.6% was still well short of the 10 to 12% target that is needed to be competitive in the capital markets.
10 May 2007
Foreign Bank Revenue in China Is Expected to Grow at Least 20 Percent This YearThe business of foreign banks in China is booming as the Chinese middle-class takes root, foreign investment in the industry soars and China’s regulatory environment governing the sector continues to open up under World Trade Organisation rules, according to a recent survey from PricewaterhouseCoopers
10 May 2007
A Sustainable Forest Products Industry is a Business and a Consumer Issue: PricewaterhouseCoopersClimate change and the environment is now a number one issue for Canadians—and the forest products sector is feeling the heat. Global warming is changing the way the industry does business and will only intensify in the coming years.
25 April 2007
PricewaterhouseCoopers China named as Accounting Services Supplier to Beijing 2008 Olympic GamesIn this role, PwC will provide financial advisory services in areas of budgeting, financial planning, and internal-control to the Beijing 2008 Olympic Games and to China’s Paralympics, BOCOG, the Chinese Olympic Committee and China’s delegation of athletes.
16 April 2007
Record Cash Flows and Mix Of Players Fuel Oil and Gas Deal ActivityRecord cash flows have pushed deal activity in the oil and gas industry to levels rivalling the mega merger highs of 1998.
12 April 2007
Aerospace And Defence Sector Deals Return To Previous HighsThe value of deals in the aerospace and defence sector is returning to previous highs according to ‘Flying High - Aerospace and Defence M&A’, a new report by PricewaterhouseCoopers.
11 April 2007
Automotive Companies Must Think Local When Moving EastIt is not just a case of selecting the right country but of selecting the right place within that country, according to the second of a series of reports by PricewaterhouseCoopers on setting up automotive production facilities in the Central and Eastern European member states of the European Union.
9 April 2007
PricewaterhouseCoopers LLP expands its pharmaceutical industry practice with key global appointmentsPwC continues to expand its core capabilities across the pharmaceutical and life sciences value chain and is committed to help companies drive efficiency and achieve greater operational excellence.
3 April 2007
Inside The Minds of CEOsDrawing on a decade of research to provide insights for tomorrow’s business leaders
28 March 2007
IPOs in Greater China raise record high of US$62 billionThe performance of the Greater China capital market was particularly outstanding, with total funds raised from IPOs reaching a record high level of US$62 billion for the first time, exceeding the aggregated amount of US$48 billion raised from IPOs in the United States according to PricewaterhouseCoopers’ Greater China IPO Watch 2006
15 March 2007
Media Advisory: Leading financial analysts and industry observers to discuss business trends and challenges shaping the global forest and paper sectorLeading financial experts and industry analysts will present insights on trends and issues shaping the global economy and the forest and paper sector during PricewaterhouseCoopers’ (PwC) 20th Annual Global Forest and Paper Industry Conference on May 10, 2007 in Vancouver, Canada.
7 March 2007
London to Rise From Sixth to Fourth Place in Global City GDP Rankings by 2020, says PricewaterhouseCoopersTokyo, New York, and Los Angeles are expected to be ahead of London in 2020, but London’s economy is projected to grow faster than any of these cities, driven in particular by strong growth in business and financial services.
13 February 2007
RSM merges with PricewaterhouseCoopersThe combined tax practices will have more than 4,000 people across different offices in India
05 February 2007
CEOs Take on Wellness as Corporate Strategy; Rising Costs of Chronic Diseases Hurting Corporate Profits and Productivity, Finds PricewaterhouseCoopersSurvey Finds Over Half of Multinational Companies Surveyed to Invest in Workplace Wellness
24 January 2007
Global CEOs' Business Confidence Reaches Record LevelsOver 90% of the 1,100 CEOs surveyed across 50 countries are upbeat about revenue growth in the next 12 months.
24 January 2007
World Economic Forum Names Bethann Brault A Young Global Leader For 2007PricewaterhouseCoopers' Genesis Park leader among 250 executives, public figures and intellectuals chosen from around the world.
23 January 2007
Venture Capital Investing Hits $25.5 Billion in 2006Highest Level of Investment in Five Years, with Relative Strength in Life Sciences, Expansion Stage Companies.
18 January 2007
Huge Transatlantic Divide Opens In M&A Activity In Global Electricity and Gas MarketDeal values shattered all records in the electricity and gas utilities sector over the past year, reports Power Deals 2006, the annual analysis by PricewaterhouseCoopers of M&A in the sector.
18 January 2007
2006 Global Automotive Shareholder Value Award WinnersWinners of the PricewaterhouseCoopers Global Automotive Shareholder Value Awards were honoured on Wednesday 17 January 2007 at the 31st Automotive News World Congress Gala Dinner in Dearborn, Michigan, USA.
16 January 2007
PricewaterhouseCoopers Survey Shows 2006 a Record Year for the Russian Automotive MarketSeveral market segments showed dramatic rates of increase
11 January 2007
Consumers and Pharmaceutical Companies Far Apart on Views of Pharma Industry, Finds PricewaterhouseCoopers SurveyPerception Gap is Eroding Public's Trust, Industry's Reputation
