PwC has ceased operations in more than a dozen countries that its global bosses have deemed too small, risky or unprofitable, as it seeks to avoid a repeat of scandals that have plagued the accounting network.
The Big Four accounting firm, which operates as a global network of locally owned partnerships, severed ties with its 10 member firms in francophone Africa at the beginning of this month after mounting differences with local partners, according to people familiar with the discussions.
Local leaders said they had lost more than a third of their business in recent years as they were pressed by PwC’s global executives to stop serving risky clients, and began negotiating an exit last year.
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