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10 Of PwC’s Biggest Clients (Ranked By Size)

PwC is a leader in accounting consulting services and works for some of the world’s most prestigious and influential companies (Mostly Fortune 500). But who are exactly those clients? One might wonder.

I dedicated a lot of my time to research and found that ExxonMobil, Chevron, JPMorgan Chase & Co., Bank of America, and The Walt Disney Company are the biggest clients of PwC in terms of size. 

Some other major clients of PwC include:

  • American International Group
  • American Express
  • Goldman Sachs Group
  • Exelon
  • Goodyear Tire and Rubber Company

Today, I’ll reveal:

  • 10 of PwC’s biggest clients based on size
  • An overview of the services provided to them by PwC
An Exxon gas station

1. ExxonMobil

PwC is the auditor of Exxon Mobil, and it’s one of its biggest clients to date (Having a revenue of $413.7 billion). (Source)

The auditors from PwC advise and assist ExxonMobil by:

  • Looking at the company’s financial statements.
  • Figuring out ways about how the company did its audits before and the better ways to overcome shortcomings.
  • Meeting with the firm’s management to discuss how it tackles risks (Things that could go wrong) and following the rules (Compliance) over a long time. 

(Source)

Here’s a chart showing you the total fees ExxonMobil paid to PwC charges for its professional services last year:

Audit Fees$34.1 million
Audit-Related Fees$5.8 million
Tax Fees$1 million
All Other Fees
Total$40.9 million

(Source)

2. Chevron

PwC has been working for Chevron as its trusted auditor for a long time. The multinational energy corporation managed to earn a revenue of $246.252 Billion, thus making it another big client of PwC. (Source)

Chevron continued to hire PwC even in 2023 because the experienced auditors really know its business inside and out (It helps Chevron make audit plans that cover all aspects while saving money).

If Chevron were to switch to a new auditor, it would take a lot of time and effort for the new consulting firm to learn about its business. This could cause problems and slow things down. So, the company decided to better stick with PwC. (Source)

3. JPMorgan Chase & Co.

PwC is the main auditor for JPMorgan Chase & Co., which is now a $154.792 billion empire. (Source)

JPMorgan Chase & Co. asked PwC to examine and confirm whether it’s making progress in fulfilling its commitment to promote racial equity (It had pledged to invest $30 billion in these efforts. (Source)

An auditor working at PwC who conducted a review of JPMorgan Chase & Co. wrote on Glassdoor: “I had the chance to review financial documents of JPMorgan Chase & Co., and it was definitely an outstanding experience for me. I consistently demonstrated an outstanding work ethic and a deep commitment to achieving excellence. I made sure I collaborated seamlessly with colleagues, sharing insights and working in a calm environment to overcome challenges. It was truly an eye-opening time for me.” (Source)

4. Bank of America

Bank of America, one of the largest companies worldwide ($149.14 Billion in revenue), trusts PwC to be its auditor. 

Being a financial institution, banks have a very complicated accounting system. And PwC is helping them deal with complex auditing problems and collect a high fee for consulting services. 

In the recent past, Bank of America has paid PwC as high as $83.1 million is audit, tax, and other fees. (Source)

The Bank Of America building, Charlottesville

5. The Walt Disney Company

In the list of PwC’s biggest clients, the Walt Disney Company comes at number 5 with a revenue of $82.722 Billion (Last year). (Source)

PwC has been continuously working as its external auditor since 1938 (That’s a remarkable achievement and shows trust). 

Walt Disney is infamous for its unique financial intricacies (Including revenue recognition, intellectual property valuation, and global distribution). 

By working that long, PwC’s deep understanding of the industry has allowed them to take care of all these matters with ease. (Source)

6. American International Group

Having a revenue of $56.437 billion, American International Group is yet another biggest client of PwC. (Source)

PwC has been an independent auditor of this company and has the responsibility to verify the accuracy and completeness of AIG’s financial records and ensure that it adheres to accounting standards and regulatory requirements. (Source)

7. American Express

Recent figures state that Amex’s annual revenue is $55.625 billion. (Source)

This makes it one of the biggest clients of PwC, ranked by size.

PwC is the independent auditor for American Express (Since 2005 and going steady). 

Its auditors review Amex’s financial records, transactions, and accounting practices to ensure they are fully accurate and compliant. They also communicate regularly with Amex’s Audit and Compliance Committee to provide updates on the progress and discuss any issues or concerns. (Source)

8. The Goldman Sachs Group Inc. 

PwC serves as an external auditor for certain business segments within Goldman Sachs. As a part of its auditing responsibilities, it conducts Service Organization Control (SOC) 1 and SOC 2 assessments.

Through these assessments, PwC checks and makes sure the company has proper controls and safeguards in place to protect important information and to stay optimal for smooth operations. (Source)

Goldman Sachs is in the top 10 list of PwC’s biggest clients, with a revenue of $47.4 Billion in the last year. (Source)

The Goldman Sachs Tower

9. Goodyear Tire and Rubber Company

The annual revenue of Goodyear Tire and Rubber Company is $20.49 Billion, which ranks it among the top clients of PwC. (Source)

In 2004, Goodyear hired PwC as its independent accountant for auditing the financial statements. Since then, both have been working together (For the foreseeable future).

PwC representatives hold regular meetings to answer any relevant questions Goodyear asks (This includes discussions about its financial statements’ accuracy). (Source)

10. Exelon

PwC has been working as an auditing firm for Exelon since 2000 when it was first formed. With a revenue of $19.078 billion, Exelon has managed to be on the list of the biggest clients of PwC. (Source)

Exelon is very happy to use PwC services because it understands the energy industry quite well (Great news for Exelon and its shareholders).

Even though PwC has been around for a while, it brings in new people regularly. This is how its biggest clients get fresh perspectives regarding the most complex situations (If they arise). 

I strongly believe that is why many big guns opt for PwC to look at their accounting matters and excel in the process. 

Author

  • Martin Williams

    Martin Williams worked as a Lead Educational Consultant for Early Impact for 5 years. He has also worked as a journalist, and is the owner of several online publications.