Do you PWC tax will continue to thrive even after the re-branding/re-org? where now there is no tax service line. They have trust and consulting. Majority of the TAX sits in consulting. While i personally believe this is way to go for the future, pretty bold move from a big-4 to do so.

What does others think about this?

likefunny
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Not sure it’s most of tax in consulting numbers wise. And it’s already starting to show itself as a dumbass idea. Partners in Trust aren’t bringing in consulting partners. Consulting partners doing compliance and provision. Even state tax being in Consulting means fed teams aren’t giving up their engagement revenue and are now doing state returns. Core teams are doing OTP implementations now or just going back to excel instead of sending TRS the work.

In short, it’s a disaster and I bet it goes away when Tim Ryan goes away, if not sooner. It’ll be just like “Channel 1b.”

likesmart

I agree with pWC1. Thing long term. It’s one share value for the firm. By collaborating and doing the right thing u rise together or fall together

Spoke with a PwC partner after it happened. It was apparently a disaster when announced and initially rolled out. No one will publicly say that, but while the vision was delivered the practical implications were not considered (which makes sense).

The two things I have seen in the market are trust partners feeling second class/slighted given that work is largely considered lower value and the consulting partners not necessarily changing their normal workload (still keeping compliance and provision - again, likely for revenue purposes).

The reality is that they need to work out the kinks and it is too early to judge how much it will benefit (or hurt) the firm.

smart

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