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Tag: PwC

Business

KPMG, EY, PwC lead Nigeria’s audit boom with 65% yearly growth

Nigeria’s audit and assurance sector saw robust growth in 2024, with industry giants KPMG, Ernst & Young, and PricewaterhouseCoopers, leading a revenue surge to N28.2 billion, a 65% increase from N17.1 billion in 2023. According to Nairametrics Research data on the top 50 publicly quoted companies, the Big Four—KPMG, EY, PwC, and Deloitte—cemented their dominance, […]

PwC raises concerns on effects of FG's tax on bank profits
News

Telecom industry to reach $1.3trn revenue by 2028 – PwC Report

PricewaterhouseCoopers’ Global Telecom Outlook 2024-2028 projects that the telecommunications industry will generate $1.3 trillion in revenue by 2028, despite sluggish growth and pricing challenges. According to the report, total service revenue from fixed and mobile networks grew by 4.3% in 2023, reaching $1.14 trillion. However, the industry’s revenue growth rate is projected to decline in […]

PwC raises concerns on effects of FG's tax on bank profits
News

PwC raises concerns on effects of FG’s tax on bank profits

Tax and Advisory Service firm, PricewaterhouseCoopers, has raised concerns over the potential adverse effects of the federal government’s proposed legislation to tax already reported profits of banks in 2023. In its response to the amendment of the finance act and the introduction of a one-time windfall tax on commercial banks’ foreign exchange revaluation gains, titled […]

PwC set to become OpenAI’s biggest reseller
News

PwC set to become OpenAI’s biggest reseller

PwC will become the largest customer and first reseller of OpenAI’s enterprise product as part of a new deal, the accounting giant announced on Wednesday. This move underscores the growing trend of businesses adopting and capitalizing on generative artificial intelligence. PwC plans to roll out ChatGPT Enterprise, a specialized version of the AI startup’s chatbot […]

PwC records $53.1bn revenues
News

PwC records $53.1bn revenues

    Accountancy and consulting firm, PwC, said it recorded global revenues of $53.1 billion in the fiscal year that ended June 30, reflecting 11.8% growth in local currency, excluding the impact of the sale of its immigration advising business in April 2022 and its pullout from Russia. According to The Times, recently released data […]

FG, PWC partner on roadmap for solid minerals
News

FG, PWC partner on roadmap for solid minerals

Bisola David The Federal Government has committed to working with the top consulting firm, PricewaterhouseCoopers, in implementing the seven-point roadmap to reform the industry. This commitment is being made through the Ministry of Solid Minerals Development. According to a statement released on Sunday by the Special Assistant for Media to the Honourable Minister of Solid Minerals Development, […]

Nigerian businesses to face worse economic conditions - PwC
Economy

Nigerian businesses to face worse economic conditions – PwC

PwC Nigeria’s financial analysts predicted that the effects of the government’s most recent economic changes will result in increased business expenses and decreased revenue for Nigerian companies. Nairametrics reported that the analysts who made this claim in a paper titled “Nigeria Economic Outlook” claimed that the medium-term real economic growth may be slowed by ongoing inflationary […]

Market vendors to receive VAT exemptions under FIRS-MATAN initiative
Business

Market vendors to receive VAT exemptions under FIRS-MATAN initiative

PwC’s Fiscal Policy Partner and Africa Tax Leader, Mr. Taiwo Oyedele, has revealed that market vendors participating in the VAT Direct Initiative will be excluded from paying VAT if their company has a turnover of less than N25 million. According to Nairametrics, he revealed this on Tuesday while speaking about the new Value Added Taxes effort between […]

Business

PwC work halted by $77bn Australian pension fund 

The fourth-largest pension fund in Australia, UniSuper has halted new business with PwC Australia on Tuesday, becoming the most recent fund to do so following a scandal involving the abuse of government tax schemes that initially broke in January. The move by UniSuper, which manages A$115 billion ($77 billion), means that five of Australia’s top pension […]

PwC Australia names staff responsible for tax plan leak
News

PwC Australia names staff responsible for tax plan leak

PricewaterhouseCoopers Australia has listed at least 67 current and former employees involved in the leak of classified government tax plans in an unpublished letter to legislators ahead of parliamentary hearings later this week. Aljazeera reported that one of the “big four” audit and advisory firms in the world, PwC, is battling to contain the fallout […]

PWC
Business

UK fines PwC $8.9m over audit breaches

PricewaterhouseCoopers, also known as PwC, gets a fine of $8.9 million from UK’s regulatory body over “serious breaches” discovered in Babcock International’s audits. Reuters reported that the Financial Reporting Council said the fine is the penalties related to the multinational’s audits failure of Babcock’s accounts up to the end of March 2017 and 2018. There […]

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