Totem, set up in 1997 by its founders Tim Barker and Ed Barlow, is now seeking new offices. It currently rents space from PwC on a commercial basis.
Barker told RiskNews that PwC’s initial support for Totem was critical to its success, but now Totem has established a large client base, the accounting firm’s support is less important.
“Recent accounting changes have encouraged some companies to place even greater reliance on Totem’s services, and to avoid any issues regarding the future independence of our two businesses we have reluctantly decided to end our formal relationship,” said London-based PwC partner Chris Rowland.
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