Reuters: PwC eyes sale of government consulting arm

PricewaterhouseCoopers has enlisted the help of investment bank Morgan Stanley to help sell the professional services company’s government consulting business, Reuters reported Friday.

Private equity firms Veritas Capital and Madison Dearborn Partners could potentially bid for the unit PwC wants $500 million for, according to the report.

Reuters says PwC is eyeing the sale as a means to pursue more business in auditing government agencies as current professional standards limit the consulting services that audit firms can provide to agencies.

PwC is one of several firms the Defense Department has contracted to help the agency go through an audit eyed for completion by Sept. 30, 2018 -- the end of the current federal fiscal year.