A critique of the Pacific EPA Sustainability Impact Assessment

In 1999 the EC launched its Sustainability Impact Assessment Programme, which had as its goal the integration of sustainability concerns into the development of trade policy. It was to include the development of a methodological framework by the University of Manchester (IDPM) for assessing the sustainability impact of trade agreements, together with studies to inform the ¿Doha Round¿ negotiations of the WTO. This paper considers the application of the IDPM methodology to the SIA being undertaken by Price Waterhouse Coopers (PWC) for the current EPA negotiations in the Pacific region of the ACP

Mozambican gas: an economically viable solution to the South African electricity crisis?

Submitted to School of Chemical and Metallurgical Engineering, Faculty of Engineering and the Built Environment, University of the Witwatersrand, Johannesburg, South Africa 24 August 2016The recent significant discoveries of gas in Mozambique could provide a much needed solution to the South African electricity crisis, but at what cost? This research report seeks to determine the economic viability of utilising Mozambican Gas to produce electricity by using data from the Integrated Resource Plan 2010-2030 Update of 2013 in a levelised cost of electricity model. The Mozambican gas fields are yet to be developed and the final price at which gas will be available is unclear, but a price range determined by ICF international in a study for the World Bank is assumed for the purposes of the study, with the results yielding a range levelised cost of energy. The results of the levelised cost determine that Mozambican gas can be utilised to provide an economical solution to the south African electricity crisis, but the price at which gas is available will determine the type of generation, either peaking power, midmerit and or baseload generation.MT201

SUCESSÃO DE LIDERANÇA EM EMPRESA FAMILIAR A PARTIR DO PROCESSO DE PLANEJAMENTO ESTRATÉGICO

Uma investigação realizada pelo SEBRAE no ano de 2015 revela que 57% das micro e pequenas empresas no Brasil possuem parentes entre seus sócios e/ou colaboradores. Ainda, uma pesquisa divulgada em 2016 pela PWC (Price Waterhouse Coopers Ltda) aponta que 43% das empresas familiares no mundo não tem um plano de sucessão familiar definido, 54% não tem um plano de sucessão em vigor e apenas 12% chegam a terceira geração (Price Waterhouse Coopers Ltda, 2021). Logo, o objetivo desse trabalho é identificar os processos do planejamento estratégico para contribuir na sucessão de liderança em uma organização familiar do ramo de refrigeração tendo como sua atividade principal a manutenção, venda e instalação de aparelhos de ar condicionado, fundada na década de 90 e que está caminhando para a sua 3° geração do Norte Pioneiro do Paraná. Dessa maneira, serão expostas dificuldades no processo de sucessão familiar e a eficácia para o futuro da organização de se implantar um planejamento contributivo à sobrevivência da organização e interveniente ao seu desempenho. Trata-se de uma pesquisa do tipo pesquisa-ação, uma vez que os pesquisadores implementarão o processo de Planejamento Estratégico na organização, permitindo coletar informações na medida em que acontecem, bem como posteriormente

SUCESSÃO DE LIDERANÇA EM EMPRESA FAMILIAR A PARTIR DO PROCESSO DE PLANEJAMENTO ESTRATÉGICO

Uma investigação realizada pelo SEBRAE no ano de 2015 revela que 57% das micro e pequenas empresas no Brasil possuem parentes entre seus sócios e/ou colaboradores. Ainda, uma pesquisa divulgada em 2016 pela PWC (Price Waterhouse Coopers Ltda) aponta que 43% das empresas familiares no mundo não tem um plano de sucessão familiar definido, 54% não tem um plano de sucessão em vigor e apenas 12% chegam a terceira geração (Price Waterhouse Coopers Ltda, 2021). Logo, o objetivo desse trabalho é identificar os processos do planejamento estratégico para contribuir na sucessão de liderança em uma organização familiar do ramo de refrigeração tendo como sua atividade principal a manutenção, venda e instalação de aparelhos de ar condicionado, fundada na década de 90 e que está caminhando para a sua 3° geração do Norte Pioneiro do Paraná. Dessa maneira, serão expostas dificuldades no processo de sucessão familiar e a eficácia para o futuro da organização de se implantar um planejamento contributivo à sobrevivência da organização e interveniente ao seu desempenho. Trata-se de uma pesquisa do tipo pesquisa-ação, uma vez que os pesquisadores implementarão o processo de Planejamento Estratégico na organização, permitindo coletar informações na medida em que acontecem, bem como posteriormente

And then there were four: a study of UK market concentration - causes, consequences and the scope for market adjustment

While concentration measures are a good indicator of market structure, the link with competitiveness is more complex than often assumed. In particular, the modern theory of industrial organisation makes no clear statement regarding the impact of concentration on competition - the focus of this paper is concentration and no inferences are made about competitive aspects of the market. The extent and nature of concentration within the UK listed company audit market as at April, 2002 and, pro forma, after the collapse of Andersen is documented and analysed in detail (by firm, market segment and industry sector). The largest four firms held 90 per cent of the market (based on audit fees) in 2002, rising to 96 per cent with the demise of Andersen. A single firm, Pricewaterhouse-Coopers, held 70 per cent or more of the share of six out of 38 industry sectors, with a share of 50 per cent up to 70 per cent in a further seven sectors. The provision of non-audit services (NAS) by incumbent auditors is also considered. As at April 2002, the average ratio of non-audit fees (paid to auditor) to audit fees was 208 per cent, and exceeded 300 per cent in seven sectors. It is likely, however, that disposals by firms of their management consultancy and outsource firms, combined with the impact of the Smith Report on audit committees will serve to reduce these ratios. Another finding is that audit firms with expertise in a particular sector appeared to earn significantly higher nonaudit fees from their audit clients in that sector. The paper thus provides a solid empirical basis for debate. The subsequent discussion considers the implications for companies and audit firms of the high level of concentration in the current regulatory climate, where no direct regulatory intervention is planned

Relatório de Estágio na PricewaterhouseCoopers (Pwc) - Sistema Contabilístico Angolano e os Agentes Reguladores de Impostos

Este relatório faz referência ao meu estágio, que teve lugar no departamento de “Tax Management and Accounting Services”, conhecido também por “TMAS” na PwC. A empresa presta serviço a todo o tipo de empresas, nas áreas ligadas a auditoria e consultoria. O estágio teve início a 12 de Agosto de 2013 e foi concluído a 12 de Fevereiro 2014. Desempenhei funções num departamento composto por colaboradores altamente qualificados e com uma vasta experiência na área financeira. É um departamento que trabalha e atua conforme as necessidades do cliente. E uma área que trata de várias matérias prestando serviços de Contabilidade e Gestão Fiscal, Outsourcing de processos na área administrativa, financeira, na área de recursos humanos e entre outros. Foi feita uma análise sobre as actividades na qual tive a oportunidade de desempenhar, relacionadas com os temas abordados neste relatório, desde atividades da área de contabilidade como a organização da contabilidade de acordo com o SNC e com o Novo Plano de Contas Angolano. Um dos temas mais abordados foi a criação, em 2012, do novo sistema fiscal angolano através da alteração do anterior código tributário de 1979 o que permitiu uma maior clareza no tratamento fiscal e tributário

Audit market structure, fees and choice in a period of structural change: evidence from the UK – 1998–2003

This paper presents evidence on audit market concentration and auditor fee levels in the UK market in the crucial period of structural change following the PricewaterhouseCoopers’ (PwC) merger and encompassing Andersen’s demise (1998–2003). Given the current interest in auditor choice, analysis is also undertaken at the individual audit firm level and by industry sector. There is evidence of significant upward pressure on audit fees since 2001 but only for smaller auditees. Audit fee income for top tier auditors (Big 5/4) did not change significantly while the number of auditees fell significantly, consistent with a move towards larger, less risky, clients. A decomposition analysis of the aggregate Big 5/4 concentration ratio changes over the period identifies the impact of four distinct consumer-based reasons for change: leavers; net joiners; non-par auditor switches; and (only for the audit fees measure) audit fee changes. Andersen’s demise markedly reduced the level of inequality among the top tier firms but PwC retained its position as a ‘dominant firm’. On switching to the new auditor, former Andersen clients experienced an initial audit fee rise broadly in line with inflation, with no evidence of fee premia or discounting. They also reported significantly lower NAS fees, consistent with audit firms and auditees responding to public concerns about perceptions of auditor independence. There is no general evidence of knowledge spillover effects or cross-subsidisation of the audit fee by NAS. The combined findings provide no evidence to indicate that recent structural changes have resulted in anticompetitive pricing; the key concerns remain the lack of audit firm choice and issues concerning the governance and accountability of audit firms

The Effect Of Auditor Independence On International Capital Markets For eCommerce Firms

According to the efficient market hypothesis, the market for securities can be described as efficient if the market reflects all available information and reacts quickly to new information (Schroeder and Clark 1998).  Investors depend on financial statements to help them judge opportunities, risks, and investment alternatives (Revsine, Collins and Johnson 1999).  This information must be verified by independent sources such as auditors.  The relationship between auditor and stockholder is based on agency theory (Schroeder and Clark 1998), where the agent (auditor) has a fiduciary relationship with the principle (stockholders).  Any loss of faith in auditor independence by investors will seriously affect the information value of financial statements. Auditor independence rules must be easy to understand and rigorously enforced or the public's confidence in financial statements will erode.  This paper will specifically assess the difficulties encountered by large accounting firms such as PriceWaterhouseCoopers (PWC) and Arthur Andersen  in their efforts to remain independent with respect to their e-commerce clients.  Many e-commerce companies have innovative and untested business models as well as inexperienced and untraditional business managers.  Some auditors fail to measure the risk associated with these intangible, knowledge-based attributes.  In addition, auditor independence may be blurred by the promise of lucrative consulting contracts.  According to Arthur Levitt, the Chair of the SEC in 1999: “The dynamic nature of today’s capital markets creates issues that increasingly move beyond the bright line of black and white.  New industries, spurred by new services and new technologies, are creating new questions and challenges that must be addressed.  Today, we are witnessing a broad shift from an industrial economy to a more service based one; a shift from bricks and mortar to technology and knowledge.” (Levitt 1999) The objective of this paper is to review current independence rules, assess the difficulty in maintaining independence in the current e-commerce environment, and to make suggestions for improving independence rules.  In addition, investigations conducted by the Securities and Exchange Commission (SEC) and new legislation such as the Sarbanes-Oxley Act will be reviewed as possible solutions to the problem