PwC, which stands for PricewaterhouseCoopers, is a multinational accounting and auditing firm headquartered in London, England. The origins of the firm date back to the 1800s with the formation of the accountancy firms Price Waterhouse & Co. and Coopers Brothers. In 1998, the two companies, then named Coopers & Lybrand and Price Waterhouse, merged to form PwC. Today the firm operates in over 155 countries and had a workforce of over 360,000 employees worldwide.
The Big Four
PwC is part of the Big Four accounting firms, along with Deloitte, Ernst & Young (EY), and KPMG. The Big Four had a combined revenue of almost 190 billion U.S. dollars in 2022 and have been the leading accounting and audit firms in the world. In the same year, PwC had the second largest worldwide revenue of the Big Four, narrowly behind Deloitte who made roughly nine billion U.S. dollars more during that year. PwC increased its revenue year-on-year over the last decade and grew by more than 10 billion U.S. dollars in this period.
Curated services
The three main service lines of PwC are assurance, advisory and tax services. Their advisory service line, that provides advice to current and future businesses on client potential and business opportunity, has been the largest service line in terms of revenue for PwC since 2022. In 2023, this arm of PwC generated approximately 22.6 billion U.S. dollars. Assurance services, the purpose of which is to provide or improve on information or context for a client so that they can make more informed decisions, was the second largest service line for the firm in 2023. Tax services made the smallest portion of revenue in 2023 for PwC, having generated 11.77 billion U.S. dollars.
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