Pricing Waterhouse Coopers LLP will invest $12 billion over its global business in initiatives aimed at improving audits, digitizing services, and reducing its carbon footprint.
Provider of Professional Services Will Hire Employees
As part of its five-year plan, the professional services company will hire 100,000 new employees and develop its existing workforce. According to an emailed statement on Tuesday, the company will respond to the post-pandemic operating environment.
Bob Moritz, Chairman of PwC, said, “We will stay focused on both developing our ways of working and expanding our capabilities in the areas that will translate into value for the future.” “We want our people to be in high demand on the market.”
Over the next five years, the South African unit of PwC will add at least 2,500 new employees, CEO Dion Shango told reporters in a conference call.
Across Africa, where it has 34 countries, the firm plans to bulk up its operations with a $400 million investment. The company is also interviewing non-executive directors to strengthen audit oversight.
Transparency In The Profession From Stakeholders
The International Auditing and Assurance Standards Board have revised standards for auditors, coming into effect in 2022. A lot has changed during this pandemic which has affected the work-life and thus, auditors are struggling to deal with quality management.
After several accounting scandals in the Big Four auditing firms damaged public trust, PwC is also seeking ways to address stakeholders’ demands for greater transparency in the profession.
PwC has also committed $3 billion of its total global investment for doubling its AP operations, according to the company. Environmental, social, and governance trends will also focus on the firm’s spending across its operations.