Outsourcing
Contracting formerly internal tasks to an external organization
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| April 2025 | PwC shut down its operations in nine African countries. |
| February 2025 | Toronto-Dominion Bank aims to sell its 10.1% stake in Charles Schwab for about 14.6 billion USD as part of a strategic review. |
| September 2024 | PwC ZhongTian (PwC's auditing business in China) was suspended for six months by China's securities regulator, who also confiscated PwC's Evergrande audit revenue and imposed a $62 million fine. |
| May 2024 | PwC became ChatGPT Enterprise's biggest customer and will start reselling OpenAI's service for large businesses. |
| February 2024 | Evergrande liquidators prepared for a potential lawsuit against PwC related to the company's financial collapse. |
| 2023 |
Nearshoring
Nuevo León Governor Samuel García officially recognizes Softtek's pioneering role in nearshoring, highlighting the concept's contribution to Mexico's economic growth and increased foreign direct investment.
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| 2023 | Ranked 43rd in the Forbes Global 2000 list. |
| 2023 |
Accounting outsourcing
Substantial increase in accounting outsourcing usage in the US labor market, driven by talent shortage and need for specialized skills.
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| 2023 | PwC acquired Surfaceink, a hardware designer. |
| August 2023 | Announced expansion of share repurchase program, planning to repurchase 90 million shares (about 4.9 percent of outstanding shares). |
| July 2023 | PwC completed an internal investigation, resulting in the removal of eight partners, including former chief executive Tom Seymour, due to the tax leak scandal. |
| July 2023 | PwC sold its Australian government consulting business to Allegro Funds for $1, with the business subsequently rebranded as Scyne Advisory. |
| May 1 2023 |
Content moderation
150 content moderators from Meta, ByteDance, and OpenAI launched the first African Content Moderators Union in Nairobi, Kenya, marking a significant moment in labor organizing for content moderation workers in Africa.
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| January 2023 | Boston Celtics and Boston Bruins announced a 20-year extension of the TD Garden naming rights deal, extending sponsorship through 2045. |
| January 2023 | PwC approved Americanas' (AMER3) balance sheets despite significant accounting inconsistencies of approximately US$4 billion, leading to stock market volatility and shareholder losses. The CVM (Brazilian stock exchange regulatory body) subsequently initiated investigations into PwC's auditors to determine their responsibilities. |
| 2022 |
Accounting outsourcing
Global finance and accounting outsourcing market estimated at US$43.1 billion, with US$19.4 billion from the United States.
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| 2022 | PwC member firms outside of Russia refrained from doing work for sanctioned Russian entities or individuals, and committed to applying global sanctions universally. |
| 2022 | PwC reported a total global workforce of 295,371 employees, distributed across Americas (73,601), Asia Pacific (98,876), and Europe, Middle East, and Africa (122,894). |
| October 2022 |
Content moderation
Elon Musk acquires Twitter and initiates changes to content moderation policies, weakening previous content rules in an effort to prioritize free speech.
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| August 2022 | Agreed to buy Cowen brokerage firm for an all-cash deal, with Cowen's CEO Jeffrey Solomon to join TD's securities division leadership. |
| July 5 2022 | PwC Ukraine announced the final exit of the company from Russia, confirming that all aspects of departure were completed on July 4, 2022. |
| June 2022 | PwC was fined by the UK's Financial Reporting Council over audit failures related to Galliford Try and Kier Group construction firms. The fine was just over £3m for inadequate auditing of revenue and costs in 2018 and 2019, with an additional £1.96m fine for similar failures in the 2017 Kier Group audit. The original fines were reduced due to PwC's cooperation with the investigation. |
| June 30 2022 | A legal agreement was signed on the withdrawal of the firm in Russia from the PwC network. |
| April 2022 | PwC responded that it cannot repay the amount of salary paid to Swapna Suresh and was subsequently terminated from the Kerala Space Park project consultancy services. |
| April 29 2022 | PwC Russia announced the withdrawal of the brand from the PwC network. |
| March 7 2022 | PwC stated that under the circumstances, they should not have a member firm in Russia and announced plans to leave the PwC network. |
| February 2022 | TD Bank froze two personal bank accounts containing $1.1 million in funds deposited to support vaccine mandate protests in Ottawa. |
| February 2022 | The Kerala state government requested PwC to refund INR 16 Lacs paid in salary to Swapna Suresh, who was accused in a gold smuggling case. |
| 2021 | Became the largest bank in Canada by total assets and market capitalization, and ranked as a top 10 bank in North America. |
| 2021 | The New York Times conducted an investigation revealing that PwC staff were strategically seeking employment at the Treasury Department, pursuing policies that benefited PwC clients. After their tenure at the Treasury Department, these staff members were subsequently promoted to partner positions within PwC, highlighting a potential 'revolving door' dynamic between the consulting firm and government agency. |
| October 2021 | The Hong Kong accounting regulator announced an investigation into PwC's audit of Evergrande after the company's financial collapse. |
| October 2021 | PwC resigned as auditor of Evergrande's accounts following the announcement of the fraud investigation. |
| August 2021 | Tim Houston of the Progressive Conservative Association of Nova Scotia was sworn in as Premier of Nova Scotia, leading the provincial government. |
| July 2021 | PwC was sued by administrators Alvarez and Marsal on behalf of JD Classics for negligence related to previous audits, with the lawsuit alleging a failure to identify fraud that resulted in £41m in losses |
| June 2021 | PwC, together with Edelman, launched the Trust Leadership Institute, a program aimed at developing leadership strategies. |
| March 2021 | Agreed to buy Headlands Tech Global Markets LLC to enhance automated fixed income trading platform. |
| 2020 | The International Consortium of Investigative Journalists (ICIJ) leaked over 700,000 internal documents exposing PwC's involvement in facilitating financial dealings for Isabel dos Santos, daughter of Angola's former President, which revealed a complex network of over 400 companies designed for tax evasion and steering state contracts. |
| 2019 | Forbes tepidly reversed its previous stance on the impact of the 2016 election on employment in the outsourcing industry. |
| 2019 |
Content moderation
NPR highlighted content moderation as a job hazard, drawing attention to the psychological risks of the profession.
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| 2019 |
Content moderation
Daniel Motaung was fired from Sama (a contractor for Facebook) after attempting to organize a union, which preceded the 2023 union formation by 4 years.
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| 2019 | TD Bank Group was designated a global systemically important bank by the Financial Stability Board. |
| 2019 | PwC's US affiliate agreed to pay $7.9 million to the Securities and Exchange Commission (SEC) to settle allegations of improperly performing IT and other non-audit services for several audit clients. |
| September 2019 | The securities appellate tribunal overruled the ban on PwC, stating there was no evidence of collusion and that SEBI had no jurisdiction over audit firms. |
| June 2019 |
Content moderation
The Verge published a follow-up investigation of Cognizant's Tampa, Florida office, revealing even worse working conditions for content moderators.
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| March 2019 | A federal judge in San Francisco certified a collective action lawsuit against PwC regarding age discrimination, with plaintiffs claiming younger applicants were over 500% more likely to be hired than candidates over 40 years old. |
| March 2019 | The FDIC reached a $335 million settlement with PwC regarding the Colonial Bank audit controversy. |
| February 2019 |
Content moderation
The Verge published an investigative report exposing poor working conditions at Cognizant's Phoenix, Arizona office, detailing mental health issues among Facebook content moderators.
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| 2018 |
Content moderation
Facebook created an internal oversight board, described as an internal 'Supreme Court', to make decisions about content removal and retention.
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| 2018 | PwC Australia CEO Luke Sayers was implicated in a potential conflict of interest regarding a personal investment in Australian Visa Processing (AVP), a company partially owned by PwC that was bidding on a potentially billion-dollar contract to redesign Australia's visa processing system. |
| 2018 | A federal judge ordered PwC to pay the FDIC $625 million, which was the largest-ever judgement against a U.S. audit firm. |
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This contents of the box above is based on material from the Wikipedia articles Nearshoring, Toronto-Dominion Bank, Government of Nova Scotia, PwC, Accounting outsourcing, Content moderation & Outsourcing, which are released under the Creative Commons Attribution-ShareAlike 4.0 International License.