FacultyFaculty/Author Profile

Tessie Johnson

PwC
Partner, Transaction Services
Chicago, IL, USA


Tessie Johnson is a Partner in our Financial Services practice based in Chicago. Tessie advises her clients as they face change in their financial reporting and technical accounting such as: conversions from one basis of accounting to another, domestic and cross border capital raisings including initial public offerings, the adoption of new accounting standards and restatements. Her clients have included a number of global financial services companies and other large corporations.

Tessie spent over four years in London during Europe's convergence with International Financial Reporting Standards. She is now the co-leader of the firm's Insurance conversion services and is a sought after resource as the US capital markets face convergence with IFRS. 

Relevant recent experience:

o Led the PwC team appointed as the global IFRS advisors for one of the largest UK based insurance companies. Advised on their IFRS accounting manual, IFRS Group financial statements, and the data required to build a new consolidation system that would be IFRS compliant.
o Advised a Midwest financial group during its initial assessment of the impact of IFRS on its financial reporting, systems, processes and business.
o Advised a Chicago-based financial institution on its initial assessment of the impact of IFRS prior to them undertaking a large general ledger and consolidation system implementation.
o Advised one of the world's premier hedge funds with its plan to offer common shares of its investment manager to the US public markets for the first time.
o Led a conversion project for a UK-based global life insurance company after they acquired a US-based life insurance company.  Project included mapping exiting financial information from ledgers, sub-ledgers, actuarial systems, investment systems, etc. to the acquirer's consolidation package under IFRS; advising on the GAAP differences between IFRS and US GAAP; and advising on the application of IFRS 3.

Tessie teaches courses on IFRS, US GAAP and the SEC registration process both internally and for her clients. Tessie joined the firm in 1993 as a member of the audit practice after graduating from the University of Texas at Austin, and has worked in both the Houston and Austin, Texas offices. She is a licensed CPA in both Texas and Illinois.

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