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133-501: PricewaterhouseCoopers International Limited is a multinational professional services brand of firms, operating as partnerships under the PwC brand. It is the second-largest professional services network in the world and is considered one of the Big Four accounting firms , along with Deloitte , EY , and KPMG . PwC firms are in 149 countries, with 370,000 people. As of 2019, 26% of

266-465: A Canadian firm (McDonald, Currie and Co.), agreed to adopt the name Coopers & Lybrand in international practice. In 1973, the three member firms in the UK, US and Canada changed their names to Coopers & Lybrand. Then in 1980, Coopers & Lybrand expanded its expertise in insolvency substantially by acquiring Cork Gully , a leading firm in that field in the UK. In 1990, in certain countries, including

399-549: A PwC partner: "We'll all be retired when this ... comes up on audit." In 2005, BusinessWeek reported that PwC was American International Group Inc.'s auditor through AIG's years of "questionable dealings" and accounting improprieties. AIG on 30 March 2005, said that deals with a Barbados -based insurance company, for instance, may have been incorrectly accounted for over the past 14 years, because an AIG-affiliated company may have been secretly covering that insurer's losses. BusinessWeek said that PwC also appeared to have "dropped

532-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

665-442: A class-action lawsuit brought by shareholders of Tyco International Ltd. over a multibillion-dollar accounting fraud. The chief executive and chief financial officer of Tyco were found guilty of looting $ 600 million from the company. In 2007, India's accounting standards agency ICAI found partners of PwC guilty of professional negligence in under-providing for nonperforming assets of the now-defunct Global Trust Bank . This led to

798-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

931-467: A disparate treatment theory even when lawful reasons for the adverse employment action are also present. Hopkins's candidacy for partnership had been put on indefinite hold. She eventually resigned and sued the company for occupational sexism , arguing that her lack of promotion came after pressure to walk, talk, dress, and act more "femininely." In 1990, a Federal district judge in Washington ordered

1064-474: A five-year agreement with GE to provide managed tax services to GE on a global basis, transferring more than 600 of GE's in-house global tax team to PwC. In November 2017, PwC accepted bitcoin as payment for advisory services, the first time the company, or any of the Big Four accounting firms, accepted virtual currency as payment. Veritas Capital acquired PwC's US public sector business in 2018, and branded

1197-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

1330-439: A given word is intended as an acronym. Difficulties arise when identifiers have different meaning depending only on the case, as can occur with mathematical functions or trademarks. In this situation changing the case of an identifier might not be an option and an alternative name need be chosen. Camel case is used in some wiki markup languages for terms that should be automatically linked to other wiki pages. This convention

1463-424: A hyphen has been inserted: an t-Albannach . This convention of inflectional prefix is also used by several written Bantu languages (e.g. isiZulu , " Zulu language ") and several indigenous languages of Mexico (e.g. Nahuatl , Totonacan , Mixe–Zoque , and some Oto-Manguean languages ). In Dutch , when capitalizing the digraph ij , both the letter I and the letter J are capitalized, for example in

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1596-601: A hyphen in the middle of a symbol as a subtraction operator) and COBOL because its operators were individual English words. This convention remains in use in these languages, and is also common in program names entered on a command line , as in Unix. However, this solution was not adequate for mathematically oriented languages such as FORTRAN (1955) and ALGOL (1958), which used the hyphen as an infix subtraction operator. FORTRAN ignored blanks altogether, so programmers could use embedded spaces in variable names. However, this feature

1729-402: A lowercase abbreviation for the "usage type" (not data type) should prefix all variable names, with the remainder of the name in upper camel case; as such it is a form of lower camel case. Programming identifiers often need to contain acronyms and initialisms that are already in uppercase, such as "old HTML file". By analogy with the title case rules, the natural camel case rendering would have

1862-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

1995-407: A modest increase in the size and capabilities of IBM's growing consulting practice, as IBM had 150,000 employees at the time. At the same time, Monday carried just 30,000 at the time. However, it was seen as a win by IBM since PwC Consulting/Monday's valuation had suffered after the post-9/11 recession. PwC began rebuilding its consulting practice with acquisitions such as Paragon Consulting Group and

2128-657: A multidisciplinary entity which also provides legal services. PwC's operations are global, with Europe accounting for 36% of the total, and the Americas 44%, as of 2016. PwC's largest growth in FY18 was in Asia where revenues were up 15%, followed by 12% revenue growth from the Middle East and Africa. PwC is organized into the following three service lines (the 2017 revenue shares are listed in parentheses): Due to its size, PwC

2261-519: A program that includes some medial capital identifiers, including " NextCh " and " WriteSymbol " (This was most likely the influence of the CPL language, of which Strachey was one of the designers of) Multiple-word descriptive identifiers with embedded spaces such as end of file or char table cannot be used in most programming languages because the spaces between the words would be parsed as delimiters between tokens . The alternative of running

2394-631: A result of the scandal. It set up the PricewaterhouseCoopers Aarata, and some of ChuoAoyama's accountants and most of ChuoAoyama's clients moved to the new firm. ChuoAoyama resumed operations on 1 September 2006, under the Misuzu name. However, by this point the two firms combined had 30% fewer clients than did ChuoAoyama prior to its suspension. Misuzu was dissolved in July 2007. In July 2007, PwC agreed to pay US$ 229 million to settle

2527-486: A sentence like non ho trovato il tempo di risponderLe ("I have not found time to answer you" – where Le means "to you"). In German, the medial capital letter I , called Binnen-I , is sometimes used in a word like StudentInnen ("students") to indicate that both Studenten ("male students") and Studentinnen ("female students") are intended simultaneously. However, mid-word capitalization does not conform to German orthography apart from proper names like McDonald ;

2660-457: A single character of the original alphabet, e.g., DShK from Cyrillic ДШК. The first systematic and widespread use of medial capitals for technical purposes was the notation for chemical formulas invented by the Swedish chemist Jacob Berzelius in 1813. To replace the multitude of naming and symbol conventions used by chemists until that time, he proposed to indicate each chemical element by

2793-471: A static rather than animated stimulus and found perfect accuracy in both styles except for one incorrect camel case response. Subjects recognized identifiers in snake case more quickly than camel case. The study used eye-tracking equipment and found that the difference in speed for its subjects was primarily due to the fact that average duration of fixations for camel-case was significantly higher than that of snake case for 3-part identifiers. The survey recorded

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2926-445: A subjective survey and found that non-programmers either preferred underscores or had no preference, and 38% of programmers trained in camel case stated a preference for underscores. However, these preferences had no statistical correlation to accuracy or speed when controlling for other variables. A 2010 follow-up study used a similar study design with 15 subjects consisting of expert programmers trained primarily in snake case. It used

3059-486: A symbol of one or two letters, the first one being capitalized. The capitalization allowed formulas like " NaCl " to be written without spaces and still be parsed without ambiguity. Berzelius' system continues to be used, augmented with three-letter symbols such as " Uue " for unconfirmed or unknown elements and abbreviations for some common substituents (especially in the field of organic chemistry, for instance " Et " for "ethyl-"). This has been further extended to describe

3192-494: A three-step "Connect-Embed-Improve" plan to promote employee engagement. The company requires senior-level staff to continue to train and learn; PwC also created a social collaboration platform called Spark to enable employees to access course materials and assignments, complete prerequisites and access reinforcement materials. In 2016, Tim Ryan, PwC's chairman, helped launch the CEO Action for Diversity and Inclusion coalition,

3325-517: Is able to contribute data analysis to a wide range of areas. PwC has partners in approximately 800 offices across 157 countries with 200,000 employees. Notable offices include Seaport office tower in Boston ; and Magwa Crescent Waterfall City tower in Midrand , South Africa. The 2018 PwC Global Annual Review states the revenue of the firm by region, as follows: The following are the several logos

3458-536: Is accused in a case of smuggling gold in a diplomatic bag . Following an investigation, the Kerala government decided to terminate the consultancy services of PwC for the proposed Space Park project in Thiruvananthapuram . PwC sub-contracted the resource from a vendor, Vision Technologies, but the government considers that the primary liability is on PwC for recruiting Swapna Suresh. Even before these events,

3591-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

3724-759: Is recommended by the coding style guidelines of many organizations or software projects. For some languages (such as Mesa , Pascal , Modula , Java and Microsoft 's .NET ) this practice is recommended by the language developers or by authoritative manuals and has therefore become part of the language's "culture". Style guidelines often distinguish between upper and lower camel case, typically specifying which variety should be used for specific kinds of entities: variables , record fields , methods , procedures , functions , subroutines , types , etc. These rules are sometimes supported by static analysis tools that check source code for adherence. The original Hungarian notation for programming, for example, specifies that

3857-588: Is the fourth-largest privately owned company in the United States. Reports on PwC's involvement in the Australian tax scandal revealed an alternate "shadow culture" that operates separately from its public-facing culture. The "shadow culture" prioritizes loyalty to superiors, unquestioning acceptance of the status quo, and a mentality of revenue "growth at all costs", even to the point of rulebreaking. As of 30 June 2021, PwC had 295,371 employees around

3990-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

4123-449: Is written in camel case. The more specific terms Pascal case and upper camel case refer to a joined phrase where the first letter of each word is capitalized, including the initial letter of the first word. Similarly, lower camel case (also known as dromedary case ) requires an initial lowercase letter. Some people and organizations, notably Microsoft , use the term camel case only for lower camel case, designating Pascal case for

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4256-980: The British East India Company founded in 1600 and the Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

4389-628: The RBI banning PwC from auditing any financial company for over a year. PwC was also associated with the accounting scandal at the India-based DSQ Software , which collapsed in 2003. In January 2009, PwC was criticised, along with the promoters of Satyam , an Indian IT firm listed on the NASDAQ , in a $ 1.5 billion fraud. PwC wrote a letter to the board of directors of Satyam that its audit may be rendered "inaccurate and unreliable" due to

4522-458: The Xerox Alto computer. This machine lacked an underscore key (whose place was taken by a left arrow "←"), and the hyphen and space characters were not permitted in identifiers, leaving camel case as the only viable scheme for readable multiword names. The PARC Mesa Language Manual (1979) included a coding standard with specific rules for upper and lower camel case that was strictly followed by

4655-618: The amino acid sequences of proteins and other similar domains. Since the early 20th century, medial capitals have occasionally been used for corporate names and product trademarks, such as In the 1970s and 1980s, medial capitals were adopted as a standard or alternative naming convention for multi-word identifiers in several programming languages . The precise origin of the convention in computer programming has not yet been settled. A 1954 conference proceedings occasionally informally referred to IBM 's Speedcoding system as "SpeedCo". Christopher Strachey 's paper on GPM (1965), shows

4788-456: The dot-com bubble of the late 1990s, the lowercase prefixes "e" (for " electronic ") and "i" (for "Internet", "information", " intelligent ", etc.) became quite common, giving rise to names like Apple 's iMac and the eBox software platform. In 1998, Dave Yost suggested that chemists use medial capitals to aid readability of long chemical names, e.g. write AmidoPhosphoRibosylTransferase instead of amidophosphoribosyltransferase . This usage

4921-538: The "r" stands for a prefix glyph in the original script that functions as tone marker rather than a normal letter. Another example is ts I urku , a Latin transcription of the Chechen term for the capping stone of the characteristic Medieval defensive towers of Chechnya and Ingushetia ; the letter " I " ( palochka ) is not actually capital, denoting a phoneme distinct from the one transcribed as "i". Medial capitals are traditionally used in abbreviations to reflect

5054-449: The 1970s and later oversaw the creation of Microsoft's Office suite of applications, invented and taught the use of Hungarian Notation , one version of which uses the lowercase letter(s) at the start of a (capitalized) variable name to denote its type. One account claims that the camel case style first became popular at Xerox PARC around 1978, with the Mesa programming language developed for

5187-670: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

5320-715: The 19th century. The trading name was shortened to PwC in September 2010 as part of a rebranding effort. The firm has been embroiled in a number of corruption controversies and crime scandals. The firm has on multiple occasions been implicated in tax evasion and tax avoidance practices. The firm has frequently been fined by regulators for performing audits that fail to meet basic auditing standards. Amid Russia's war in Ukraine , PwC assisted Russian oligarchs to hide their wealth and contributed to bypassing global sanctions placed on Russia over its invasion of Ukraine. The firm

5453-551: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

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5586-575: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

5719-1027: The MCS division of PwC. Around July 2000, PwC began to prepare for either an acquisition or IPO by developing separate financial records that would be required for due diligence. PwC leadership began to seek buyers, with an initial interest by Hewlett-Packard for a reported $ 17 billion, but negotiations broke down in 2000. Almost a year after the collapse of Arthur Andersen in 2001, Arthur Andersen, LLP affiliates in Hong Kong and China completed talks to join PricewaterhouseCoopers, China. In 2000, PwC acquired Canada's largest SAP consulting partner, Omnilogic Systems, to expand its developing consulting presence in Canada. PwC announced in May 2002 that PwC Consulting would be spun off as an independent entity and filed with

5852-587: The Mesa libraries and the Alto operating system. Niklaus Wirth , the inventor of Pascal , came to appreciate camel case during a sabbatical at PARC and used it in Modula , his next programming language. The Smalltalk language, which was developed originally on the Alto, also uses camel case instead of underscores. This language became quite popular in the early 1980s, and thus may also have been instrumental in spreading

5985-511: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

6118-558: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

6251-460: The PwC network and/or one or more of its member firms, each of which is a separate legal entity due to local legislative requirements. Much like other professional services firms , each member firm is financially and legally independent. PwC is co-ordinated by a private company limited by guarantee under English law , called PricewaterhouseCoopers International Limited. In addition, PwC is registered as

6384-534: The SEC for an initial $ 1B IPO to trade in August. Because PwC accounting partners owned 60% of PwC Consulting, an IPO or acquisition was seen as the only way to split the two firms without decimating the consulting arm's working capital. PwC Consulting leadership continued to fluff financials by expanding across-the-board pay cuts, terminating its variable compensation program, and furthering deep layoffs, all rare actions in

6517-464: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

6650-475: The Tokyo District Court after the judge deemed them to have played a "passive role" in the crime. The suspension was the first-ever imposed on a major accounting firm in the country. Many of the firm's largest clients were forced to find replacement auditors before the suspension began that July. Shortly after the suspension of ChuoAoyama, PwC acted quickly to stem any possible client attrition as

6783-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

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6916-473: The UK, Coopers & Lybrand merged with Deloitte, Haskins & Sells to become Coopers & Lybrand Deloitte; in 1992 they reverted to Coopers & Lybrand. In 1849, Samuel Lowell Price , an accountant, founded an accountancy practice in London. In 1865, Price went into partnership with William Hopkins Holyland and Edwin Waterhouse . Holyland left shortly afterwards to work alone in accountancy and

7049-515: The US Senate, and had helped Caterpillar Inc. drastically reduce its taxes for more than a decade. Profits valued at $ 8bn were shifted from the US to Switzerland, which allegedly made it possible to save more than $ 2.4bn in US taxes over a decade. In Switzerland profits were taxed at 4%. A PricewaterhouseCoopers managing director who was involved in designing the tax savings plan had written at the time to

7182-608: The United Kingdom and worldwide, each time establishing a separate partnership in each country: the worldwide practice of Price Waterhouse was, therefore, a federation of collaborating firms that had grown organically, rather than the result of an international merger. In a further effort to take advantage of economies of scale , PW and Arthur Andersen discussed a merger in 1989 but the negotiations failed, mainly because of conflicts of interest such as Andersen's strong commercial links with IBM and PW's audit of IBM, as well as

7315-541: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

7448-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

7581-614: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

7714-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

7847-576: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

7980-766: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

8113-507: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

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8246-505: The abbreviation all in uppercase, namely "oldHTMLFile". However, this approach is problematic when two acronyms occur together (e.g., "parse DBM XML" would become "parseDBMXML") or when the standard mandates lower camel case but the name begins with an abbreviation (e.g. "SQL server" would become "sQLServer"). For this reason, some programmers prefer to treat abbreviations as if they were words and write "oldHtmlFile", "parseDbmXml" or "sqlServer". However, this can make it harder to recognize that

8379-683: The address longer and less human readable . By omitting spaces, camel case does not have this problem. Camel case has been criticized as negatively impacting readability due to the removal of spaces and uppercasing of every word. A 2009 study of 135 subjects comparing snake case (underscored identifiers) to camel case found that camel case identifiers were recognized with higher accuracy among all subjects. Subjects recognized snake case identifiers more quickly than camel case identifiers. Training in camel case sped up camel case recognition and slowed snake case recognition, although this effect involved coefficients with high p-values . The study also conducted

8512-404: The ball" on the deals between AIG and Berkshire Hathaway Inc.'s General Re Corp. General Re transferred $ 500 million in anticipated claims and premiums to AIG. BusinessWeek asked: "Did the auditor do its job by verifying that AIG was assuming risk on claims beyond the $ 500 million, thus allowing AIG to account for the deal as insurance? That's Accounting 101 in any reinsurance transaction." PwC

8645-469: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

8778-541: The capitalization that the words would have when written out in full, for example in the academic titles PhD or BSc . A more recent example is NaNoWriMo , a contraction of National Novel Writing Month and the designation for both the annual event and the nonprofit organization that runs it. In German, the names of statutes are abbreviated using embedded capitals, e.g. StGB for Strafgesetzbuch (Criminal Code), PatG for Patentgesetz (Patent Act), BVerfG for Bundesverfassungsgericht ( Federal Constitutional Court ), or

8911-461: The case saying, "As we have said many times, there has never been any evidence presented that either of our former partners S Gopalakrishnan or Srinivas Talluri were involved in or were aware of the management-led fraud at Satyam. We understand that Gopal and Talluri are considering filing an appeal against this verdict." In 2018, PwC was banned by India's securities regulator from providing auditing services to public-listed companies for 2 years, and PwC

9044-742: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

9177-745: The commercial services business of BearingPoint in 2009. The firm continued this process by acquiring Diamond Management & Technology Consultants in November 2010, and PRTM in August 2011. In 2012, the firm acquired Logan Tod & Co, a digital analytics and optimisation consultancy, and Ant's Eye View, a social media strategy development and consulting firm to build upon PwC's growing Management Consulting customer impact and customer engagement capabilities. In April 2014, Booz & Company combined with PwC to form Strategy& . In 2013, PwC acquired BGT Partners . In 2016, PwC acquired technology/consulting firm NSI DMCC. In January 2017, PwC announced

9310-654: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

9443-427: The company has used through the years. The current PwC logo was introduced in September 2010, when the company changed its trading name from PricewaterhouseCoopers to PwC. It was designed by Wolff Olins. The company employs large numbers of young workers, with 80% of their workforce millennials as of 2017. According to PwC, the company uses education to bridge the culture gap between generations. The firm also implements

9576-537: The company's agency partner, launched a program, The Trust Leadership Institute. PwC developed a ColourBrave Charity Committee , made up of employees from across the organisation, as part of its commitment to continue to build an inclusive culture and address racial disparity. The Committee chose 25 Black-led organisations and civil society organisations to join the PwC Foundation and PwC Social Entrepreneurs Club's existing list of beneficiaries. As of 2021, PwC

9709-423: The computing field, the convention was used in the names of computer companies and their commercial brands, since the late 1970s — a trend that continues to this day: In the 1980s and 1990s, after the advent of the personal computer exposed hacker culture to the world, camel case then became fashionable for corporate trade names in non-computer fields as well. Mainstream usage was well established by 1990: During

9842-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

9975-458: The country name IJsland ("Iceland"). In Chinese pinyin , camel case is sometimes used for place names so that readers can more easily pick out the different parts of the name. For example, places like Beijing (北京), Qinhuangdao (秦皇岛), and Daxing'anling (大兴安岭) can be written as BeiJing , QinHuangDao, and DaXingAnLing respectively , with the number of capital letters equaling the number of Chinese characters . Writing word compounds only by

10108-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

10241-534: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Camel case Camel case (sometimes stylized autologically as camelCase or CamelCase , also known as camel caps or more formally as medial capitals ) is the practice of writing phrases without spaces or punctuation and with capitalized words. The format indicates the first word starting with either case, then

10374-471: The differences between similar-looking product names such as predniSONE and predniSOLONE ; and snake case , which uses underscores interspersed with lowercase letters (sometimes with the first letter capitalized). A combination of snake and camel case (identifiers Written_Like_This ) is recommended in the Ada 95 style guide. The practice has various names, including: The earliest known occurrence of

10507-469: The disclosures made by Satyam's (ex) Chairman and subsequently withdrew its audit opinions. PwC's US arm "was the reviewer for the U.S. filings for Satyam". Consequently, lawsuits were filed in the US with PwC as a defendant. Two partners of PricewaterhouseCoopers, Srinivas Talluri and Subramani Gopalakrishnan, were charged by India's Central Bureau of Investigation in connection with the Satyam scandal. After

10640-483: The finances of companies without following basic auditing standards. In 1989, the United States Supreme Court held that Price Waterhouse must prove by a preponderance of the evidence that the decision regarding Ann Hopkins 's employment would have been the same if sex discrimination had not occurred. The accounting firm failed to prove that the same decision to postpone Hopkins's promotion to

10773-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

10906-441: The firm to make Hopkins a partner. It was the first time in which a court awarded partnership in a professional company as a remedy for sexual or race-based discrimination. Following the suit, the firm received media attention due to its discriminatory labor practices towards males as well. In 2014, it came to light that PwC had received $ 55m from Caterpillar Inc. to develop a tax avoidance scheme, according to an investigation of

11039-676: The firm was known from 1874 as Price, Waterhouse & Co. The original partnership agreement, signed by Price, Holyland, and Waterhouse could be found in Southwark Towers . By the late 19th century, Price Waterhouse had gained recognition as an accounting firm. They opened an office in New York City in 1890, and the American firm expanded. The original British firm opened an office in Liverpool in 1904, and then elsewhere in

11172-464: The following words having an initial uppercase letter. Common examples include YouTube , PowerPoint , HarperCollins , FedEx , iPhone , eBay , and LaGuardia . Camel case is often used as a naming convention in computer programming. It is also sometimes used in online usernames such as JohnSmith , and to make multi-word domain names more legible, for example in promoting EasyWidgetCompany.com . In fact, WikiWikiWeb , an ancestor of Misplaced Pages,

11305-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

11438-459: The industry. In June 2002, PwC Consulting hired Continental Airlines ' Greg Brennerman as CEO to run the global division. A week later, it was announced that an outside consultancy, Wolff Olins , had created new branding for the consulting group, called "Monday". The firm's CEO, Greg Brenneman described the unusual name as "a real word, concise, recognizable, global and the right fit for a company that works hard to deliver results." In July 2002, it

11571-994: The initial letter of each character is also acceptable in some cases, so Beijing can be written as BJ , Qinghuangdao as QHD, and Daxing'anling as DXAL. In English, medial capitals are usually only found in Scottish or Irish "Mac-" or "Mc-" patronymic names, where for example MacDonald, McDonald, and Macdonald are common spelling variants of MacDonald (son of Dòmhnall), and in Anglo-Norman "Fitz-" names, where for example both FitzGerald and Fitzgerald (son of Gerald) are found. In their English style guide The King's English , first published in 1906, H. W. and F. G. Fowler suggested that medial capitals could be used in triple compound words where hyphens would cause ambiguity—the examples they give are KingMark-like (as against King Mark-like ) and Anglo-SouthAmerican (as against Anglo-South American ). However, they described

11704-576: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

11837-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

11970-511: The largest CEO-driven business commitment to advance diversity and inclusion in the workplace. Employees at PwC generally have flexibility in choosing their own working hours provided that senior management deems the arrangement acceptable. In 2002, PwC published the accounting profession's first global "Code of Conduct". Strategy& and PwC publish Strategy+Business , a print and online business magazine focusing on management issues and corporate strategy. In June 2021, PwC together with Edelman,

12103-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

12236-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

12369-434: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

12502-543: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

12635-406: The name to be put in quotes). Therefore, users of those systems often resort to camel case (or underscores, hyphens and other "safe" characters) for compound file names like MyJobResume.pdf . Microblogging and social networking services that limit the number of characters in a message are potential outlets for medial capitals. Using camel case between words reduces the number of spaces, and thus

12768-586: The new company as Guidehouse . The Academy of Motion Picture Arts and Sciences (AMPAS) has utilized the services of PwC to tally the votes for the Academy Awards since 1935. In addition, the company oversees AMPAS elections, prepares its financial documents, and is responsible for the group's tax filings. In 2023, PwC acquired Surfaceink, a hardware designer. In May 2024, PwC became ChatGPT Enterprise's biggest customer and will also start reselling OpenAI's service for other large businesses. PwC refers to

12901-433: The number of characters, in a given message, allowing more content to fit into the limited space. Hashtags , especially long ones, often use camel case to maintain readability (e.g. #CollegeStudentProblems is easier to read than #collegestudentproblems); this practice improves accessibility as screen readers recognize CamelCase in parsing composite hashtags. In website URLs, spaces are percent-encoded as "%20", making

13034-468: The opening of the PwC office in Kerala secretariat had attracted serious criticism from the opposition party. Following this, PwC issued clarification on their hiring of Ms. Swapna Suresh by stating that she was hired based on a background verification report from past employers as well as a criminal record verification at the time. In February 2022, the state government of Kerala wrote to PwC in order to seek

13167-588: The partnership would have still been made in the absence of sex discrimination, and therefore, the employment decision constituted sex discrimination under Title VII of the Civil Rights Act of 1964 . The significance of the Supreme Court's ruling was twofold. First, it established that gender stereotyping is actionable as sex discrimination. Second, it established the mixed-motive framework as an evidentiary framework for proving discrimination under

13300-540: The previous example could be correctly written using parentheses as Student(inn)en , analogous to "congress(wo)men" in English. In Irish , camel case is used when an inflectional prefix is attached to a proper noun, for example i nGaillimh ("in Galway "), from Gaillimh ("Galway"); an tAlbanach ("the Scottish person"), from Albanach ("Scottish person"); and go hÉirinn ("to Ireland"), from Éire ("Ireland"). In recent Scottish Gaelic orthography ,

13433-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

13566-611: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

13699-529: The refund of INR 16 Lacs paid in salary to Swapna Suresh. In April 2022, the company responded that it can't repay the amount. Multinational corporation Most of the current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were

13832-461: The same. MediaWiki , for example, does not support camel case for linking. Some wikis that do not use camel case linking may still use the camel case as a naming convention, such as AboutUs . The NIEM registry requires that XML data elements use upper camel case and XML attributes use lower camel case. Most popular command-line interfaces and scripting languages cannot easily handle file names that contain embedded spaces (usually requiring

13965-660: The scandal broke out, Subramani Gopalakrishnan retired from the firm after reaching mandatory retirement age, while Talluri remained on suspension from the firm. Following the Satyam scandal, the Mumbai-based Small Investor Grievances Association (SIGA) requested the Indian stock market regulator SEBI to ban PwC permanently and seize its assets in India alleging more scandals like "Ketan Parekh stock manipulations." In 2015, PwC India said they were disappointed with court judgement of

14098-501: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

14231-510: The style outside PARC. Upper camel case (or "Pascal case") is used in Wolfram Language in computer algebraic system Mathematica for predefined identifiers. User defined identifiers should start with a lower case letter. This avoids the conflict between predefined and user defined identifiers both today and in all future versions. C# variable names are recommended to follow the lower camel case convention. Whatever its origins in

14364-650: The system as "too hopelessly contrary to use at present". Some French names also uses CamelCase names, such as LeBeau (surname) , LaRue , DeMordaunt , and Italian names DeRose / DeRosa . In the scholarly transliteration of languages written in other scripts, medial capitals are used in similar situations. For example, in transliterated Hebrew , haIvri means "the Hebrew person" or "the Jew" and b'Yerushalayim means "in Jerusalem". In Tibetan proper names like rLobsang ,

14497-456: The term "InterCaps" on Usenet is in an April 1990 post to the group alt.folklore.computers by Avi Rappoport. The earliest use of the name "Camel Case" occurs in 1995, in a post by Newton Love. Love has since said, "With the advent of programming languages having these sorts of constructs, the humpiness of the style made me call it HumpyCase at first, before I settled on CamelCase. I had been calling it CamelCase for years. ... The citation above

14630-409: The two firms' radically different cultures. It was said by those involved with the failed merger that at the end of the discussion, the partners at the table realized they had different views of business, and the potential merger was scrapped. In 1998, Price Waterhouse and Coopers & Lybrand merged to form PricewaterhouseCoopers (written with a lowercase "w" and a camel case "C"). At that time, MCS

14763-427: The unit at AIG disagreed with the valuation that Goldman presented. According to a memo published by Business Insider , witnesses wondered how PwC was signing off on the accounts for both AIG and Goldman Sachs when they were using different valuation methods for the swaps contracts (and therefore booked different values for them in their accounts). ChuoAoyama Audit Corporation ( 中央青山監査法人 , Chūō-Aoyama Kansa Hōjin )

14896-457: The upper camel case. Some programming styles prefer camel case with the first letter capitalized, others not. For clarity, this article leaves the definition of camel case ambiguous with respect to capitalization, and uses the more specific terms when necessary. Camel case is distinct from several other styles: title case , which capitalizes all words but retains the spaces between them; Tall Man lettering , which uses capitals to emphasize

15029-554: The very common GmbH, for Gesellschaft mit beschränkter Haftung ( private limited company ). In this context, there can even be three or more camel case capitals, e.g. in TzBfG for Teilzeit- und Befristungsgesetz (Act on Part-Time and Limited Term Occupations). In French, camel case acronyms such as OuLiPo (1960) were favored for a time as alternatives to initialisms. Camel case is often used to transliterate initialisms into alphabets where two letters may be required to represent

15162-507: The words together as in endoffile or chartable is difficult to understand and possibly misleading; for example, chartable is an English word (able to be charted), whereas charTable means a table of chars . Some early programming languages, notably Lisp (1958) and COBOL (1959), addressed this problem by allowing a hyphen ("-") to be used between words of compound identifiers, as in "END-OF-FILE": Lisp because it worked well with prefix notation (a Lisp parser would not treat

15295-557: The workforce was based in the Americas, 26% in Asia, 32% in Western Europe, and 5% in Middle East and Africa. The company's global revenues were US$ 50.3 billion in FY 2022, of which $ 18.0 billion was generated by its Assurance practice, $ 11.6 billion by its Tax and Legal practice and $ 20.7 billion by its Advisory practice. The firm in its recent actual form was created in 1998 by a merger between two accounting firms: Coopers & Lybrand, and Price Waterhouse. Both firms had histories dating back to

15428-496: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

15561-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

15694-696: The world. The largest percentage of workers are employed in Western Europe, Asia and the Americas. The following shows the number of employees in each region of the world as of FY 2021. The following shows the number of employees by practice areas. The following shows the number of employees by level. Notable firm alumni include: The firm has been embroiled in a number of corruption controversies and crime scandals. The firm has on multiple occasions been implicated in tax evasion and tax avoidance practices. The company has aided war criminals in evading sanctions. The company has frequently performed insufficient audits, whereby it performs auditing services that vouch for

15827-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

15960-407: Was also criticised by several witnesses during the 2010 Financial Crisis Inquiry Commission investigation into AIG's collapse in the financial crisis of 2007–2008 , after the insurer was unable to fulfil its collateral obligations to Goldman Sachs . The insurer was expected to cover the difference in value between the credit default swap contracts it had sold to Goldman Sachs, however, the head of

16093-482: Was created in September 1998 when Coopers & Lybrand merged with Price Waterhouse. In 1854, William Cooper founded an accountancy practice in London. It became Cooper Brothers seven years later when his three brothers joined. In 1898, Robert H. Montgomery , William M. Lybrand, Adam A. Ross Jr. and his brother T. Edward Ross formed Lybrand, Ross Brothers and Montgomery in the United States. In 1957, Cooper Brothers, along with Lybrand, Ross Bros & Montgomery and

16226-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

16359-505: Was fined $ 2 million in addition to the suspension. In September 2019, this ban was overruled by the securities appellate tribunal stating that there was no evidence of collusion of PwC in the scam. The tribunal also stated that SEBI had no jurisdiction over audit firms and only ICAI could issue such an order. PwC, which provides consulting service to the Kerala government 's Department of Information Technology and its Space Park project, has been criticised for appointing Ms. Swapana Suresh, who

16492-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

16625-411: Was just the first time I had used the name on USENET." The use of medial capitals as a convention in the regular spelling of everyday texts is rare, but is used in some languages as a solution to particular problems which arise when two words or segments are combined. In Italian, pronouns can be suffixed to verbs, and because the honorific form of second-person pronouns is capitalized, this can produce

16758-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

16891-862: Was not very useful since the early versions of the language restricted identifiers to no more than six characters. Exacerbating the problem, common punched card character sets of the time were uppercase only and lacked other special characters. It was only in the late 1960s that the widespread adoption of the ASCII character set made both lowercase and the underscore character _ universally available. Some languages, notably C , promptly adopted underscores as word separators, and identifiers such as end_of_file are still prevalent in C programs and libraries (as well as in later languages influenced by C, such as Perl and Python ). However, some languages and programmers chose to avoid underscores and adopted camel case instead. Charles Simonyi , who worked at Xerox PARC in

17024-522: Was not widely adopted. Camel case is sometimes used for abbreviated names of certain neighborhoods, e.g. New York City neighborhoods SoHo ( So uth of Ho uston Street) and TriBeCa ( Tri angle Be low Ca nal Street) and San Francisco's SoMa ( So uth of Ma rket). Such usages erode quickly, so the neighborhoods are now typically rendered as Soho , Tribeca , and Soma . Internal capitalization has also been used for other technical codes like HeLa (1983). The use of medial caps for compound identifiers

17157-518: Was originally used in Ward Cunningham 's original wiki software , WikiWikiWeb , and can be activated in most other wikis. Some wiki engines such as TiddlyWiki , Trac and PmWiki make use of it in the default settings, but usually also provide a configuration mechanism or plugin to disable it. Misplaced Pages formerly used camel case linking as well, but switched to explicit link markup using square brackets and many other wiki sites have done

17290-401: Was rumored that PwC was in talks with an unknown public company, as no PR space or announcement for the impending IPO had been set. Those rumors were confirmed in August 2002, when PwC announced it sold Monday to IBM for approximately $ 3.5 billion in cash and stock. Monday was consolidated into IBM Global Business Services while partners became employees for the first time. The acquisition had

17423-616: Was the Japanese affiliate of assurance service of PwC from April 2000 to 2006. In May 2006, the Financial Services Agency of Japan suspended ChuoAoyama from provision of some statutory auditing services for two months following the collapse of cosmetics company Kanebo, of which three of the partners were found assisting with accounting fraud for hiding deficits of about $ 1.9 billion over the course of five years. The accountants got suspended prison terms up to 18 months from

17556-632: Was the largest and fastest growing division. The fallout from the Enron , Worldcom and other financial auditing scandals led to the demise of Arthur Andersen , reducing the count of the Big Five accounting firms down to the Big Four and spurring passage of the 2002 Sarbanes–Oxley Act (SOX). Among other restrictions, SOX severely limited the overlap between management consulting and auditing services. PwC Consulting continued to split itself off, conducting business under its name and branding rather than as

17689-513: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

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