PwC to divide consulting from accounting - papers 1 Feb

Accounting giant PricewaterhouseCoopers is poised to spin-off and float its consultancy arm in the midst of a scandal in the accountancy profession that is gripping American business. The industry is facing a crisis of confidence as allegations swirl that conflicts of interest encourage accountants to approve flattering balance sheets. PWC hopes the flotation of its management-consulting arm will put an end to suggestions its auditing work is compromised. The City regulator's regular supervisory work will be cut back over the next year to improve on consumer education and responsive w...