Some in the industry say that one reason for the failure of an attempted merger between Arthur Andersen and Price Waterhouse eight years ago was Andersen's disdainful view that a lot of Price Waterhouse's senior partners were dead wood.
The report submitted by Lazards to London Underground's board strongly criticises Price Waterhouse's various proposals for splitting operations and track as over-complex and risky.
Schwab's retreat was followed by the defection of Toronto Dominion's discounter TD Waterhouse.
Even staid accountants have caught the entrepreneurial buzz: the annual staff turnover rate at Price Waterhouse's local software-services group is 25%.
The scheme at Baker's Piece was devised in 2009 after Miss Waterhouse became concerned about the lack of affordable housing for local people.
His intervention was seen as particularly significant since the Commissioner's post itself was one of the key recommendations of the Waterhouse Inquiry.
Findings from the Waterhouse Report into abuse in north Wales children's homes also led to the establishment of the Children's Commissioner for Wales.
He was referring to allegations, first aired last Friday on the BBC's Newsnight, which suggested that victims of abuse at the Bryn Estyn children's home in the 1970s and 1980s were told by the police and the Waterhouse Inquiry that there was no evidence to back their recollection of who had abused them and, therefore, no reason to pursue their allegations further.
"It'll certainly benefit China's reform process, " says Kevin Zhang, Beijing manager for the accounting firm Price Waterhouse.
Last month, only six months after the offering, Price-waterhouse resigned, leaving Specialty Foods without an auditor and prompting the price of its income trust's units to slide 15% below the offering price.
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