Big Four firm PricewaterhouseCoopers has cut its workforce in Canada by 2% as sustained high interest rates push that nation's economy toward a recession.
A spokeswoman for PwC confirmed the reduction,
The Canadian economy looks to have entered a technical recession this year as the Bank of Canada holds interest rates at multi-decade highs to combat inflation.
Preliminary data
The Top 100 Firm acquired Franklin, Massachusetts-based Pavento, Ratcliffe, Renzi & Co., expanding its presence in the state and New England.
The Public Company Accounting Oversight Board voted to request public comment on the goals and objectives for its 2026-2030 strategic plan.
Basis, an AI agent platform for accountants that reached a $1.15 billion valuation, debuted a website that provides a tribute to the accounting profession.
The Council of the District of Columbia unanimously advanced Bill 26-494, which now awaits the review of the D.C. mayor and Congress.
Blue J offers accounting professors free access; Canopy touts full tax automation with no handoffs; 4impactdata's 4ID Foresight surfaces risks and opportunities for firms; and other accounting tech news and updates.
Plus, Sorren launches a human capital advisory services practice; Warren Averett named three local partners in charge of growth; and other firm and personnel news.
