PricewaterhouseCoopers (PwC) is a professional services company, which has its headquarters in London, United Kingdom. The company, in its current state, was formed in 1998 when Price Waterhouse merged with Coopers & Lybrand. PwC is one of the so-called “Big Four” audit firms that offer audit, tax, assurance, advisory, consulting, actuarial, legal and corporate finance services. The other companies of the Big Four are Deloitte, Ernst & Young and KPMG. In 2017, PwC was the second biggest of the four in terms of revenue with 37.68 billion U.S. dollars. Deloitte topped the list, with revenues amounting to 38.8 billion U.S. dollars in 2017 (Ernst&Young 31.4 billion U.S. dollars, KPMG 26.4 billion U.S. dollars).
As of November 2017, PricewaterhouseCoopers operates offices and firms in 158 countries in 736 locations and employs more than 250,000 people. The majority of PwC’s employees work in Western Europe (75,151), the Americas (71,222) and Asia (68,963). Since 2010, the number of employees has seen a year-on-year increase.
PwC’s revenue has also seen growth over the past few years, from 22.1 billion U.S. dollars in the 2006 fiscal year to almost 41.3 billion U.S. dollars in the 2018 fiscal year. The Americas generate the most revenue (17.45 billion U.S. dollars in 2018) followed by Western Europe (13.86 billion U.S. dollars in 2018),with the rest of the world grossing around 9.96 billion U.S. dollars in revenue.
PwC generates almost 41 percent of its revenue through assurance services segment (17.06 billion U.S. dollars in 2018). Advisory and tax services made almost similar revenues in 2018, with 13.77 billion U.S. dollars and 10.45 billion U.S. dollars, respectively.