Pwc

One-third of organisations report data breaches costing over $1 mn in 3 yrs

While most firms have expanded their investment in GenAI, it has expanded their attack surface due to challenges in merging it with cybersecurity strategies

BS BFSI Summit: Why go to Mauritius, come to GIFT City, say fund managers

BS BFSI Summit: As GIFT City gains traction, panellists agreed it is well-positioned to become a key player in international finance, transforming India's role in the global financial landscape

PwC India collaborates with Meta to expand its open-source AI solutions

The consultancy firm stated that the collaboration would help PwC India and Meta "democratise" Generative AI (GenAI) and make it more accessible to businesses by jointly building

PwC making tangible investments for 'high quality' business in China

PwC Zhong Tian LLP was hit with a six-month suspension and a record fine of 441 million yuan ($62 million)

China hits PwC with six month ban in record penalty over Evergrande audit

Chinese authorities have been examining PwC's role in Evergrande's accounting practices since CSRC accused developer in March of a $78-billion fraud over a period of two years through 2020

PwC US to cut 1,800 jobs over restructuring, its first layoffs in 15 years

PwC's US unit will lay off around 1,800 workers, its first formal job cuts since 2009, as part of a restructuring process amid decreased demand for certain services, its US leader, Paul Griggs said

China property developer Country Garden makes PwC resign as auditor

PwC has been in focus over its role in auditing China Evergrande Group which was accused of a $78 billion fraud, triggering a client exodus, cost cuts and layoffs

China to impose six-month business ban on PwC over its Evergrande audit

PwC's China unit has already lost at least two-thirds of its accounting revenues from mainland-listed clients this year since its Evergrande audit failure

PwC expects Chinese govt to hand down six-month ban for Evergrande audit

PwC has been under the spotlight after China launched one of the biggest investigations of financial fraud in history

China Evergrande liquidators sue PwC for 'negligence', 'misrepresentation'

China Evergrande defaulted on more than $300 billion of its international debts in 2021, triggering a financial crisis within China's property sector

'Hit by client exits PwC asks China partners to take pay cut up to 50%'

Chinese authorities have been probing PwC's role in auditing China Evergrande Group after the securities regulator accused the troubled property developer in March of a $78-billion fraud

PwC recommends extension of beneficial tax regime for new manufacturing cos

Tax consultancy firm PWC has urged Finance Minister Nirmala Sitharman to extend the beneficial tax regime for new manufacturing companies and introduce a comprehensive tax amnesty scheme for cases related to Customs. Sitharaman is scheduled to present the Union Budget for 2024-25 on July 23. "I think the Make in India is the first thing which comes to mind, and you will recall that in 2019, the government introduced a 15 per cent rate for new manufacturing companies, which lapsed on March 31, 2024. "I think that is one extension, which is being expected, and the expectation is also that instead of giving a year-on-year extension if we can look at the block period, say for the next five years because shifting a manufacturing is a big decision and the corporates may take time before making a decision and make it viable, feasible and that's the first bit," said Sandeep Puri, Partner, Price Waterhouse & Co LLP. Section 115BAB of the Income Tax Act offers a concessional tax rate of 15 .

From back offices to strategic hubs, GCCs in India shaping MNC operations

Gradually, leaders at India-based GCCs are gaining greater autonomy, influencing enterprise architecture and participating in budgeting, staffing, and other operational decisions

PwC considers halving China financial services audit staff: Report

The move follows Chinese regulators' scrutiny of PwC this year for its role as the auditor of troubled property giant China Evergrande Group, which, in turn, triggered the exit of some clients

Introduce a single window clearance system for data centres: PwC-Assocham

Currently, only the state government of Maharashtra allows a single window clearance system for this industry

More people want to switch jobs now than in 'Great Resignation': PwC survey

According to the consultancy's '2024 Hopes and Fears' survey, 28 per cent of workers said they are 'extremely or very likely' to change their employers

PwC India expects rise in small, mid-size merger & acquisition transactions

PwC India anticipates an upswing in the India markets, especially in small to mid-size M&A (merger and acquisition) transactions and growth fundings driven by increasing investors' confidence. The year 2023 witnessed the emergence of a nuanced M&A landscape, with investors showing interests in diverse strategies and larger-scale ventures, even amid an overall decrease in PE investment, said Sanjeev Krishan, Chairperson, PwC in India. While PE deals were higher in volume, strategic deals dominated the top deals -- and domestic deals with group-level consolidations were a prominent theme. The first quarter of 2024 marked a resurgence in deal value and volume. According to a PwC report, top 10 deals of 2023 included JV buyouts, strategic investments, PE buyouts, and stock mergers, and contributed to 21 per cent of the total deal value. While PE deals were higher in volume overall, strategic deals dominated the top deals with domestic deals and group-level consolidations as a ...

Evergrande liquidation law firm probing PwC, others for potential claims

Evergrande was ordered to be liquidated by a Hong Kong court in January, after it failed to deliver a concrete restructuring plan for its $23 billion worth of offshore debt deemed to be in default

Govt needs to adopt granular approach to support biz: PwC Chairman Krishan

The Modi 3.0 government needs to adopt granular and tailored approach to support small businesses and promote job creations to make the economic growth more inclusive, said PwC in India Chairperson Sanjeev Krishan. Supporting the development of ancillary industries, and sharper focus on urban and rural development projects as part of infrastructure creation should be other priorities of the government, Krishan said. "Prioritising job creation and productivity improvement is crucial for the new government to ensure inclusive growth," he told PTI. He noted that over the past decade, improvements in ease of doing business (EoDB) along with better infrastructure and credit access have removed several obstacles. "What would now be important will be to support job creation/increasing trade in smaller pockets with a granular and tailored approach. Simultaneously, increasing productivity would be equally important. Regulatory support and incentivisation, including PLI schemes, can help dri

Over $23 bn of sustainable infra projects identified at IPEF eco forum meet

As many as 69 sustainable infrastructure projects worth over USD 23 billion of investment opportunities were identified at the Indo-Pacific Economic Framework for Prosperity (IPEF) clean economy investor forum meet in Singapore, according to a statement. The statement of Singapore's ministry of trade and economy, which hosted the meet, out of the 69 projects, 20 investment-ready projects worth about USD 6 billion were presented to investors at business matching sessions. Remaining projects worth about USD 17 billion were also identified as potential investment opportunities in future. The forum brought together about 300 participants from the Indo-Pacific region's top investors, cutting-edge project proponents, innovative start-up entrepreneurs, ministers and senior government officials. The Indian delegation was led by Commerce Secretary Sunil Barthwal. Organised by Singapore's ministry alongside the 13 other IPEF partners, the forum aims to facilitate high-quality business and .