PricewaterhouseCoopers has become the latest Big Five firm to attempt a flotation of its consultancy arm by beginning a review to examine possible organisation structures. The review is at an early stage and no specific solutions have been determined but the firm is adamant that 'the status quo is not an option'. When rival firm KPMG attempted a similar plan, it was blocked by the US Securities and Exchange Commission in January amid warnings of potential conflicts of interest. Problems would arise if any of the its audit clients invested in the consultancy arm. But PwC hopes to develop an organisational structure that will best enable it to serve its clients, maintain and enhance the value of the firm, and maintain the sort of professional independence that is necessary to ensure healthy capital markets. A spokesman said: 'We are constantly examining our own organisation to make sure that it is in line with our current market needs and changes in the business environment. Elsewhere in the Big Five, only Deloitte & Touche has established a separate consulting arm but currently has no plans to float it. Arthur Andersen, whose dispute with the spun-off Andersen Consulting division, said this week it had no plans to float its internal consultancy practice. Ernst & Young was unable to comment.
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