By Shannon Kung

Senior Staff Writer

PricewaterhouseCoopers LLP, more commonly known as PwC, is the auditor of many of the largest companies in the world and is a member of the famed Big Four auditors, which also include KPMG, Ernst & Young, and Deloitte Touche Tohmatsu.  It is the third largest privately owned company in the U.S. with 29,818 domestic employees, and is the U.S. member firm of the larger entity, PricewaterhouseCoopers International, Limited.

PwC provides professional services to other companies and even some high net-worth individuals.  Its most important line of business is auditing, or the verification of the accuracy of financial data published by the client firms.  It also provides tax and other advisory services to help companies meet regulatory compliances and improve company performance.

In the Audit and Assurance division, the financial statement audit section tests and verifies the accuracy of financial reporting the client files to the SEC and the public.  The Systems and Process Assurance (SPA) section assesses the technological controls of the client to make sure financial data generated from the client company’s systems are trustworthy.  PwC also helps clients comply with the Sarbanes-Oxley Act.

The Tax division is the most straightforward of the categories, as it deals with the yearly taxes that the client must report.  It helps companies with tax planning and compliance, and makes sure clients are up-to-date on the latest tax issues.  The tax professionals can specialize in different aspects of tax.

Advisory helps clients manage changes, both unplanned, such as the implementation of a new government regulation, or planned, such as a decision to expand.  Advisory is often compared to consulting, and is split into small subcategories such as Crisis Management and Performance Improvement.  Crisis Management deals with asserting risk and finding the best solution to the problem, as well as helping firms though unpredictable and usually difficult situations.  Performance Improvement focuses on making the client more efficient and effective, technically, financially, etc., thus helping them to become more competitive.

PwC is known for its relaxed yet competitive environment, as employees receive a lot of work, but are also encouraged to pursue a healthy work-life balance.  The hours employees put in at PwC vary.  Most employees work a minimum of 55 hours during busy season, but often work only about 40-45 hours a week during the rest of the year.

Like other large accounting firms, PwC offers an internship program every summer in all its main service lines.  Intern participants are mostly well-balanced juniors who are more than book smart and display an understanding of team work.  Interns are assigned to active client engagement teams and do the same work as first-year associates.  During the final week of the internship, interns nationwide travel to Orlando, Florida to participate in the Internship Development Program at Walt Disney World.  There, interns engage in a series of teambuilding activities and continue to network with other interns from across America.

Upon first entering PwC, employees are paired with a mentor, who is usually an associate; a coach, who is usually a manager; and a relationship partner.  All employees are given annual offsite training sessions with at least one week out of the year spent in training.  New employees are often given more routine tasks, but as they progress in the firm, they are given more client interaction and will be more specialized in certain areas and industries.

To apply, candidates from UCLA need to submit a resume, cover letter, and unofficial transcript in BruinView.  They also must apply online on the PwC website by creating an Online Career Profile (OCP).  There are two rounds of interviews, the first at the Career Center and the second at their downtown office.  Candidates can apply to any of PwC’s many offices, and a list of all the U.S. offices can be found at: http://www.pwc.com/extweb/pwclocations.nsf/(ViewLocByCityDisplay2005)/United~States~of~America~US~ENG~YH.