LONDON Oct 4 Auditing and corporate advisory
firm PwC believes companies have overcome the initial
shock of Britain's vote to leave the European Union and are
getting on with preparing for the changes that lie ahead, the
firm said on Tuesday.
"I think we are through the initial shock. We're seeing
companies getting back to business, working through scenarios,
impacts and the opportunities, which, when so much uncertainty
remains, is essential," said Bob Moritz, Chairman of PwC
International in a statement reporting a 7 percent rise in its
revenues to a record $35.9 billion for the year ended June 30.
Moritz said that in the immediate aftermath of the
referendum in June, over 20,000 people watched a webcast
broadcast by PwC UK and raised hundreds of questions given how
unexpected the result was, with a team of people now working on
PwC itself does not expect Brexit changes to have a direct
impact on how it operates.
"For us, PwC is organized on a country by country basis, and
we are used to working internally cross-border, and for clients
as well, so we won't be affected by any potential changes," said
Britons' vote for Brexit on June 23 took many investors and
chief executives by surprise, triggering the biggest ever
one-day fall in sterling against the dollar.
The latest survey of 115 financial services firms by
business lobby CBI and PwC in September found that optimism fell
during the three months to September, the third quarter in a row
that it has dropped, marking the longest decline since the
depths of the financial crisis in 2009.
However, businesses as well as the government have been
turning to consultants for advice on how to navigate through the
changes to come with Brexit, with many setting up dedicated
teams to deal with demand.
(Reporting By Anjuli Davies; Editing by Greg Mahlich)