PwC Splits Tax Practice Between Audit, Advisory in Restructuring(1)

PwC LLP said Tuesday that it would merge its U.S. tax compliance business into its audit practice in a major restructuring intended to streamline how it supports client demands for climate reporting and rapid technology changes.

Meanwhile, the firm’s tax strategy services business will join its advisory practice, PwC said.

The U.S. shakeup is part of global shift in strategy for PwC intended to ensure reliable business reporting by the firm’s clients and to help companies build a business model that can survive in the coming decades. In a separate announcement Tuesday, the global firm said it would add 100,000 ...