PwC is one of the Big Four professional services networks, alongside Deloitte, EY and KPMG. Its member firms audit a large share of the world's biggest listed companies and sell tax, legal, deals, consulting and technology services. The modern network dates from the 1998 merger of Price Waterhouse and Coopers & Lybrand and adopted the short brand name PwC in 2010. In FY2025 it employed about 364,000 people in 136 countries. The company is headquartered in London, United Kingdom.
PwC is not one company. Each national firm, such as PricewaterhouseCoopers LLP in the US or the UK firm, is a separate legal entity owned by its partners and licensed to use the PwC name, methodologies and technology by PricewaterhouseCoopers International Limited (PwCIL), a UK company limited by guarantee that does not serve clients itself. Member firms bill clients through three lines of service. Assurance (about US$19.8 billion in FY2025) covers statutory audits and other attestation work that listed and regulated companies must buy every year. Tax and Legal Services (about US$12.7 billion) covers compliance, transfer pricing, cross-border structuring and legal advice. Advisory (about US$24.4 billion) covers consulting, deals, risk, cyber and technology implementation, including the Strategy& unit built from Booz & Company. Fees come from hourly rates, fixed fees and multi-year audit engagements, and profits after costs are shared among each firm's partners.