PWC consulting?

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rookie1010

Senior member
Mar 7, 2004
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i just came across this article on reuters which says "IBM Business Consulting Services was created shortly after IBM bought PWC Consulting three years ago for $3.5 billion."

what domains did PWC consult in?
 
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Reel

Diamond Member
Jul 14, 2001
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When the big accounting scandals hit the market (Enron, etc), PwC sold their consulting practice to IBM to avoid the regulations that sprang up. The consulting practice mostly consisted of IT work back then. A consulting branch has reformed under the term Advisory. Advisory includes some IT services as well as a wide variety of other business functions. There are limits on the activities that the Advisory practice can perform due to the non-compete clause when the sale of IBM took place. If you need more general information, please use google.
 
sygyzy

sygyzy

Lifer
Oct 21, 2000
14,001
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Originally posted by: Reel
When the big accounting scandals hit the market (Enron, etc), PwC sold their consulting practice to IBM to avoid the regulations that sprang up. The consulting practice mostly consisted of IT work back then. A consulting branch has reformed under the term Advisory. Advisory includes some IT services as well as a wide variety of other business functions. There are limits on the activities that the Advisory practice can perform due to the non-compete clause when the sale of IBM took place. If you need more general information, please use google.
Click to expand...

Wow, that was a really good explanation. Or should I say reely good? Anyway, thanks dude.
 
RichieZ

RichieZ

Diamond Member
Jun 1, 2000
6,551
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91
Ya they sold it off b/c of SoX. E&Y sold off their consulting arm: CapGem. KPMG did the same: Bearingpoint. Deloitte is the only one who kept their consutling practice.

I think that most of PWC's consulting was IT work.
 
ManSnake

ManSnake

Diamond Member
Oct 26, 2000
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PWC's consulting pratice was called Monday for a while. Strangest name for a firm ever!
 
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rookie1010

Senior member
Mar 7, 2004
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what is SoX?

so capgemini is out of E&Y
& bearingpoint is out of KPMG

deolitte still maintain an IT practice.

why did these firms sell of their tech consultancies,

is it for the same reason, to avoid the regulations that sprang up. i guess they sold their companies to private investors?
i think capgemini has been around since before the 90's, correct?

PWC's consulting pratice was called Monday for a while. Strangest name for a firm ever!
Click to expand...
would that be their advisory practice?
 
RichieZ

RichieZ

Diamond Member
Jun 1, 2000
6,551
40
91
Originally posted by: ManSnake
PWC's consulting pratice was called Monday for a while. Strangest name for a firm ever!
Click to expand...

ya that have lots of stupid names, imagine how much money they wasted on rebranding.

Look at some other great ideas: Braxton or "ACCENT on the fURE"
 
A

abc

Diamond Member
Nov 26, 1999
3,116
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0
Originally posted by: rookie1010
what is SoX?

so capgemini is out of E&Y
& bearingpoint is out of KPMG

deolitte still maintain an IT practice.

why did these firms sell of their tech consultancies,

is it for the same reason, to avoid the regulations that sprang up. i guess they sold their companies to private investors?
i think capgemini has been around since before the 90's, correct?

PWC's consulting pratice was called Monday for a while. Strangest name for a firm ever!
Click to expand...
would that be their advisory practice?
Click to expand...


no i thought they were all spun off after they were nurtured.
 
S

spidey07

No Lifer
Aug 4, 2000
65,469
5
76
Let's face it. SOX was put in place to save the accounting firms and nobody else. It was NOT for the shareholders. It was rammed into place strictly to save the firms.

Mr. Sarbanes and Mr. Oxley are laughing all the way to the bank.
 
R

rchiu

Diamond Member
Jun 8, 2002
3,846
0
0
Originally posted by: rookie1010
what is SoX?

so capgemini is out of E&Y
& bearingpoint is out of KPMG

deolitte still maintain an IT practice.

why did these firms sell of their tech consultancies,

is it for the same reason, to avoid the regulations that sprang up. i guess they sold their companies to private investors?
i think capgemini has been around since before the 90's, correct?

PWC's consulting pratice was called Monday for a while. Strangest name for a firm ever!
Click to expand...
would that be their advisory practice?
Click to expand...

SoX is Sarbanes and Oxley act passed by the congress after the Enron scandal. The old Big 5 used to be Accounting Firm + Business/IT Consulting Firm like the Anderson consulting. Sox regulates those firm so that if they do business with a client on the consulting side, they cannot do business with the same client on the accounting side. This is to make their accounting practice more independant.

That's why those companies sold their consulting side to other companies so their their accounting side can do more business and not risk government asking questions.
 
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Albis

Platinum Member
May 29, 2004
2,722
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SOX is giving plenty of people good paying jobs

even though the big 4 sold off their core consulting branches, many of the firms still have advisory services in house
 
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spidey07

No Lifer
Aug 4, 2000
65,469
5
76
Originally posted by: Albis
SOX is giving plenty of people good paying jobs

even though the big 4 sold off their core consulting branches, many of the firms still have advisory services in house
Click to expand...

yep.

Hmmmm....coincidence or not?

Trying to save an industry? Just make it federally mandated.
 
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