June 19, 2018

PwC Keeps The Oscars Gig

pwc oscars 2018

After dealing with weeks of embarrassment, brand damage, ridicule, repeated apologies, rejection and capitulation, PwC has finally caught a break.

The Hollywood Reporter reports that the Academy of Motion Picture Arts and Sciences has decided to retain the firm to tabulate the ballots for the Oscars despite the colossal screw-up that happened with the Best Picture envelope.  Sure, it won’t make up for the untold millions they agreed to pay to the plaintiffs in the MF Global trial, but, hey,  it’s something!

Scott Feinberg of THR has some pretty fun details about the meeting of the Academy’s 54-person board of governors, including the length of the meeting (6 hours!), Tim Ryan apologizing (again!), and that “ballot leader” Brian Cullinan threw a party the night before the ceremony and “frequently boasted about knowing the winners.” Yeesh.

Oh and, there are a slew of new protocols that will be put in place for next year so this never happens again:

Under the new protocols: Ryan will take on a greater oversight role: PwC partner Rick Rosas, who was responsible for handing out the winning envelopes from 2002 to 2013, will return to that job, and another PwC employee, to be named in coming months, will join him. In addition, a third balloting leader privy to the results will be seated in the control room to ensure a more rapid response to mistakes in the future; the accountants will take part in the rehearsals; and all accountants will have to hand over their electronic devices before going anywhere near the Oscars stage.

Partners giving up their phones for approximately 3 hours a year seems like a heavy, but worthwhile, sacrifice to hang on to this one.

[THR via WSJ]

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In Case You Need Another Reason to Hate the French

french flag.jpgWalking around the PwC office in Midtown Manhattan, our blogospondent in the field happened across a couple of young ladies having the picture taken in front of the P Dubya sign out front, proudly posing as if it was their names on the building at 300 Madison.
Said blogospondent approached the young ladies and asked if they worked at the P Dub and they responded in heavily French accents, “yes”. As result of further prying, it was revealed that the ladies do work a lot during “busy times”, sometimes between 50 and 60 hours a week!
This compared to an American tax associate who we spoke to just a couple days before who, in the last fifteen days, had worked 185 hours.
Let’s recap: America – 185 hours in 15 days in the middle of June vs. France – 50-60 hours in one week during the “busy time”.
American vitriol towards the French may now ensue.

PwC Needs a Lesson or Two in Spin

240px-PricewaterhouseCoopers.svg.pngIn, lets talk about anything but Satyam, PwC news, the largest Big 4 firm was rated highest among professional service providers on brand recognition in the Brand Finance Top 50 ranking of Best Brands of British Origin.
“Chairman of PwC [in the UK] Ian Powell said the recognition was ‘testament to the strength and reach of our clients, the talents of our people, and the contribution that we make to the wider community.'”
We won’t take anything away from PwC but sometimes bad news is the best news for brand recognition. So this whole Satyam thing is probably not getting the credit it deserves. Come on P. Dubs! Lemons into lemonade!

PwC most recognised professional services brand
[Accountancy Age]