Press
PSCU Selects PricewaterhouseCoopers for External Financial Auditing and Tax Services
Company Cites Increased Complexity in Accounting Practices and Alignment with Strategic Growth Plans as Drivers in Decision Process
ST. PETERSBURG, FL (April 17, 2013) – PSCU today announced the engagement of PricewaterhouseCoopers (PwC) as its external independent certified public accounting firm for auditing and tax services.
“We selected PwC as we implement the sophisticated and varied accounting methods needed to track and report the higher growth we expect over the next several years,” said Michael J. Kelly, PSCU’s President & CEO. “As we expand our service offerings, PwC gives us access to a deep and talented auditing team with experience in a multitude of complex and expanding financial disciplines.”
PSCU evaluated a field of auditing candidates for expertise and depth to address the company’s long-term growth plans, expanding business relationships and need for expert guidance on accounting and tax reporting.
PwC gives PSCU the ability to leverage its scale, expertise and staffing to help in several key areas, such as specific accounting rule interpretations for revenue recognition and software capitalization; and to tap the multi-jurisdictional experience needed for compliance, taxation and financial reporting through this period of growth. In addition, this change will help PSCU execute its methodologies regarding risk and controls across all areas of the company.
About PSCU
Established in 1977, PSCU (St. Petersburg, Fla.) is the nation’s leading credit union service organization (CUSO) and serves more than 1,500 financial institutions nationwide. The company is owned by nearly 700 member credit unions representing 16 million credit, debit, prepaid, online bill payment, mobile and electronic banking accounts. Comprehensive 24/7/365 member support is delivered through four Contact Centers located throughout the United States that handle more than 19 million inquiries a year.
PSCU’s MōPRO initiative marries emerging technologies, such as EMV and mobile and digital wallets, with proven strategies and empowers the CUSO to lead the industry in developing innovative payments solutions. This new culture of engagement, agility and energy can enhance both revenue and market share for Member-Owner credit unions. For more information, visit the PSCU website at www.pscu.com.