Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Big 4 announces partnership to meet new regulations

A big four accounting firm has teamed up with a global cloud platform in order to satisfy looming regulatory requirements. 

Technology Jack Derwin 19 January 2017
— 1 minute read

PwC today announced it will partner with Oracle Financial Services Analytical Applications to help financial institutions meet compliance with the International Accounting Standards Board’s (IASB) new reporting standards.

Oracle said the partnership was motivated by the challenge presented by the IASB’s new IFRS 9 accounting standard that all banks must comply with as of 2018.


IFRS 9 implementation poses a significant challenge for financial institutions and failure to manage it well can have a material impact on their bottom line,” Oracle’s financial services senior vice president Sonny Singh said.

By partnering with PwC, we can provide our clients a comprehensive technological solution, as well as deep strategic insight, that’s unmatched in the marketplace.” 

As part of the deal, Oracle’s software and analytics will be implemented and adjusted to suit PwC clients’ requirements, while PwC will provide consulting advice on the implementation of Oracle’s analytical applications.

Financial institutions are already relying on PwC and Oracle to makes sense of IRFS 9 compliance,” PwC senior partner and IFRS9 global leader Colin Brereton said.

Now, our industry-specific business-process insight, coupled with Oracles technology, provides a best-in-class IFRS 9 solution.”

Big 4 announces partnership to meet new regulations
image intro
accountantsdaily logo


Are you thinking of expanding your offering into SMSFs to grow your client base? Become a pro at SMSF fundamentals and make your clients bulletproof with the SMSF Foundations course. Learn directly from Aaron Dunn from Smarter SMSF as he deep-dives into the fundamentals you need to know to successfully undertake your work as an SMSF practitioner. Earn up to 21 CPD hours! Learn more