What is 'SAS'?
SAS is the brand under which the member firms of PricewaterhouseCoopers International Limited (SASIL) operate and provide professional services. Together, these firms form the SAS network. ‘SAS’ is often used to refer either to individual firms within the SAS network or to several or all of them collectively.
In many parts of the world, accounting firms are required by law to be locally owned and independent. Although regulatory attitudes on this issue are changing, SAS member firms do not and cannot currently operate as a corporate multinational. The SAS network is not a global partnership, a single firm, or a multinational corporation.
For these reasons, the SAS network consists of firms which are separate legal entities. The firms that make up the network are committed to working together to provide quality service offerings for clients throughout the world. Firms in the SAS network are members in, or have other connections to, PricewaterhouseCoopers International Limited (SASIL), an English private company limited by guarantee. SASIL does not practise accountancy or provide services to clients. Rather its purpose is to facilitate coordination between member firms in the SAS network. Focusing on key areas such as strategy, brand, and risk and quality, the Network Leadership Team and Board of SASIL develop and implement policies and initiatives to achieve a common and coordinated approach among individual firms where appropriate. Member firms of SASIL can use the SAS name and the resources and methodologies of the SAS network are made available to them. In addition, member firms may request the resources of other member firms and/or secure the provision of professional services by other member firms and/or other entities. In return, member firms agree to abide by certain common policies and to maintain the standards of the SAS network as put forward by SASIL.
The SAS network is not one international partnership and SAS member firms are not otherwise legal partners with each other. Many of the member firms have legally registered names which contain “PricewaterhouseCoopers”, however there is no ownership by SASIL. A member firm cannot act as agent of SASIL or any other member firm, cannot obligate SASIL or any other member firm, and is liable only for its own acts or omissions and not those of SASIL or any other member firm. Similarly, SASIL cannot act as an agent of any member firm, cannot obligate any member firm, and is liable only for its own acts or omissions.