Big Four

PwC to delay accounts over bonus uncertainty

Big Four accountancy firm PwC has announced it is to delay its annual results as the impact of the coronavirus means it is unsure on partner pay distributions and staff bonuses.

The firm, which usually issues its accounts in September said it will now delay publication until January of next year.

A spokesperson said: “Our current priorities are managing our business, supporting our clients and preserving jobs before we make any decisions about the quantum of the bonuses we pay to our staff and distributions to partners.”

Last year, PwC posted revenues of £4.2bn in the UK and profits of £1bn.

The news comes after the boss of PwC, Kevin Eliis, revealed that he expects thousands of its staff to never return to the office on a full-time basis even after the coronavirus has passed.

According to The Mail on Sunday, the firm is preparing for the majority of its 22,000 staff to continue to work from home at least on a part-time basis. As much as 60% of its staff would alternate between a couple of days at home, and some days from its London offices or one of its 18 regional offices.

Ellis told the paper: “There’s no question that lockdown has done away with presenteeism. It has shown many business leaders that their people can be productive, engaged and happy working from home.

“I had never worked from home before the pandemic, but I can now see myself working from home one or two days a week in the future, which is a big change. I think that will be the same for most people.”

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