PwC, the first consulting firm to open a local office, celebrates 30 years in Romania

This year marks 30 years of PwC Romania activity on the local market, as the first large professional services company to register in Romania after 1989.

“PwC laid the foundations of the consulting services market 30 years ago, so we’ve been with the Romanian business environment from the very beginning. Over those three decades we’ve become a prominent professional services company on the Romanian market, a strong brand and an important contributor to public debate, thanks to all of our colleagues, partners and clients. In the coming years, we will continue to invest in training, in developing the skills of our colleagues and in adopting new technologies in order to have at least an equally relevant contribution to the sustainable development of Romanian society and the economy. We will also remain a reliable dialogue partner for local and international authorities and institutions”, said Ionut Simion, Country Managing Partner, PwC Romania.

In 1991, Coopers & Lybrand opened an office in Bucharest to become the first large professional services company to have a presence in Romania. The company later merged globally with Price Waterhouse under the PriceWaterhouseCoopers, or PwC, brand. PW settled in Romania in 1993.

PwC Romania’s major contributions to the business environment development:

• From 16 employees in 1991, PwC Romania has reached a team of over 800 professionals today, coordinated by 21 Partners.
• Important projects carried out by the Romanian authorities or international institutions were supported by PwC consultants.
• PwC Romania conducted the first classification of Romanian companies under a project for the Romanian authorities, the first audits of large companies and contributed to the local implementation of international IFRS financial reporting standards, including preparing the first financial statements in accordance with them.
• PwC has contributed to the development of the most important laws with an impact on company activities, such as the first insolvency law, the VAT introduction, the transposition of European directives, the community customs regulation and the first Romanian Tax Code.
• Since its establishment, PwC Romania has had a major role in the creation and development of liberal professions in Romania, and in the establishment and management of associated professional bodies, with PwC representatives being elected to their leadership: AmCham Romania, Romanian National Union of Insolvency Practitioners (UNPIR), Romanian Chamber of Financial Auditors (CAFR), ANEVAR, Chamber of Fiscal Consultants (CCF), ABSL, Council of Foreign Investors and The Coalition for the Development of Romania.
• D&B David and Baias, the corresponding law firm of PwC in Romania, has obtained numerous reference decisions, both in Romanian and international courts, in tax and commercial litigation, with the effect of amending and harmonising national legislation.
• Numerous studies and surveys on important economic sectors are conducted by PwC Romania, including: PayWell, Saratoga, CEO Survey, Family Business Survey and Entertainment & Media Outlook.