PwC Unit Sale Will Remove Client Conflicts, Canada Legal Arm Says
Big clients will no longer be conflicted out by strict audit rules that law firms allied with PwC had to follow.
October 25, 2021 at 12:03 AM
4 minute read
The uncoupling of the tax and immigration mobility business from Big Four accounting giant PwC will open doors for the Canadian immigration law firm allied with PwC, as it will no longer be bound by strict conflicts rules that now govern which clients it can take on, according to the head of the firm's Canadian immigration practice.
PwC agreed last week to sell its mobility consulting division to American private equity firm Clayton, Dubilier & Rice for US$2.2 billion. The deal, which covers 5,700 people in 41 locations around the globe, includes 500 Canadians and 200 lawyers and staff at PwC Law, which has offices in Toronto, Montreal and Vancouver.
"With our current affiliation with PwC we certainly are bound by independence restrictions," said Melodie Molina, a partner with PwC Law in Toronto. "Without being part of PwC, it does open up the doors into a market that is free from those audit restrictions."
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