PwC Named Official AC Audit/Assurance Provider
PwC Bermuda has been named the Official Audit and Assurance Provider for the 35th America’s Cup and Official Audit & Assurance Provider of Oracle Team USA.
Under the agreement, PwC will provide a range of professional services to ACEA [America’s Cup Event Authority]. PwC will also make a significant contribution to the America’s Cup Community Sailing Project through this relationship.
“We’re thrilled to have PwC support the America’s Cup and especially the Community Sailing Project,” said Harvey Schiller, the Commercial Commissioner of the America’s Cup.
Tom Miller – MD, Private Client Services; Grant Simmer – General Manager, Oracle Team USA; Arthur Wightman – Leader of PwC Bermuda; Russell Coutts – CEO, America’s Cup Event Authority; Shannon Carlin – Manager, Audit and Assurance Services
“Having Bermuda based partners for this important initiative demonstrates a commitment to ensure the America’s Cup has a wide-ranging impact for all Bermudians.”
The Community Sailing Project is due to get under way this summer.
“We are delighted to announce that we have signed an agreement to become an Official Supplier to sailing’s most prestigious event,” said Arthur Wightman, leader of PwC Bermuda. “We are proud to connect our brand with an event that shares PwC’s core values of excellence, teamwork and leadership.
“In reaching this agreement, it was especially important to all of us at PwC that our role aligned with our overall purpose – to build trust in society and solve important problems. Beyond providing our professional services, we are especially proud to play an important role in the America’s Cup Community Sailing Project in Bermuda.
Arthur Wightman – Leader of PwC Bermuda; Russell Coutts – CEO, America’s Cup Event Authority; Shannon Carlin – Manager, Audit and Assurance Services
“This project will support and promote youth education through sailing and related sailing activities and experiences for youth in Bermuda, with the goal of creating a programme that will sustain well beyond the 35th America’s Cup. We are unreservedly committed to playing our part in ensuring that there is a real legacy benefit from the 35th America’s Cup that will be felt by the Bermuda community for many years to come.”
Employing more than 200 people, and backed by the strength of a global network of 195,000 people in 157 countries, PwC is the largest professional services firm in Bermuda, specialising in insurance and reinsurance, asset management and banking.
Racing in the America’s Cup begins with the America’s Cup World Series Portsmouth from July 23-26and continues in Gothenburg, Sweden in August. In October, racing comes to Bermuda for the first time from October 16-18.
Well done to PwC but I am kind of interested – do these things go out to tender or is it all done privately?
I doubt it is a tender per se, but I am sure that ACEA makes sure that they get as much money from an official sponsor as they believe the market can bear. It is certainly not a freebie.