PwC and Booz & Company Merger Making Progress – Strategic Planning Gaining in Importance for Audit Firms

Wednesday, 15. January 2014

The merger of the international strategy consulting firm Booz & Company with PricewaterhouseCoopers (PwC), one of the world’s Big Four audit firms, which was announced at the end of October, has taken another important hurdle: On December 23rd, 2013 “Booz & Company’s global partners have voted overwhelmingly to approve a combination with PwC,” the organization stated in a press release. Provided the supervisory authorities give green light, the deal will be closed by the end of March. Until then, the two organizations will continue operating separately.

Cesare Mainardi, CEO of Booz & Company said: “Clients are demanding practical strategies that deliver sustainable outcomes. Our industry is responding with consolidation across the consulting spectrum. We have chosen to lead this change – to deliver better results for our clients and help transform our industry.” He continued: “We believe this positions us together as a ‘Category of One’ - the only global consulting team that’s figured out how to truly bridge the best of operational and strategy consulting.”

Dennis Nally, Chairman of PwC International, welcomed the partners of Booz & Company and their colleagues to the PwC network. He said: “The combination of PwC and Booz & Company enables us to offer a globally unique spectrum of consulting services. It ranges from strategy development to implementation; this way we solve the challenges of our clients and create trust in the market."

We at SOLYP Informatik GmbH are noticing for some time now that in auditing processes increasing attention is being paid to the evaluation of how and to which extent soft data is considered and forecasted in strategic planning. For example, forecasts of future market shares and sales forecasts derived from these are questioned and the underlying planning processes are examined. The existence and quality of the strategic planning process is now part of auditing processes.

The merger, from our point of view, is a signal for how much appreciation strategic planning now enjoys and how auditors will move in this environment in the future.

SOLYP3 contributes significantly to the strategic planning of an organization being recognized for its high quality in auditing processes. The quality continues to rise; the sustainability and predictability is significantly improved.