PwC to expand forensic group in Houston, covering energy

In the next few weeks, PricewaterhouseCoopers LLP's Houston office will have forensic accounting teams looking at deals in Latin America, Singapore and other spots around the world.

Demand for forensic accounting is on the rise in the energy sector as companies do more business and buy more companies overseas.

After Ernst & Young LLP detailed a three-year plan to double its 80-person fraud and forensic practice in Houston and Dallas, PricewaterhouseCoopers LLP told me it plans to add five to its 20-person forensic services practice in coming months.

Karyl Van Tassel, leader of forensic services in Houston, said the 25 percent increase is part of the accounting giant?s focus on forensic services in the energy sector, a specialty of Tassel?s.

?We?re adding selective members, focused on technical expertise in accounting and finance,? she said. ?We?re also trying to get diverse language skills because of the kinds of markets our clients find themselves in. We have people who speak Spanish, Portuguese, Russian, Bulgarian and French; we look for people who can help us expand in that area.?

The practice conducts forensic analysis for clients and assists litigation consulting and with compliance programs. The practice does plenty of international work as the energy industry expands its footprint.

Energy companies are going overseas more and more to buy up companies, and they need forensic accountants to help vet transactions in countries that have reputations for corruption and bribery in law enforcement.

Tassel said demand for the practice?s services has risen as energy companies find their best bets in emerging markets.

?In forensics, they?re looking at getting to know who they?re doing business with in these countries, whether they're doing acquisitions or joint ventures,? Tassel said, adding those companies have to do more due diligence and make sure compliance programs are in place.

?It is steadily growing as the (U.S. Department of Justice) and the (U.S. Securities and Exchange Commission) have continued to look at these issues,? she said. ?On the practice side, we?re very busy."

Collin Eaton covers banking, finance and securities.

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