One of the biggest problems in wearing a horse-hair sporran if you're not a piper is that unlike other sporrans, most horse-hair sporrans have no internal pouch. The primary purpose for your sporran is to provide a place to keep all those things that would normally be in your pockets. By wearing a horse-hair sporran you have eliminated the one sensible substitute for pockets that a kilted man has. That leaves you with just your coat pockets which can appear rather bulky.

Unless your company function is extremely formal I would not suggest wearing a PC to it. The PC jacket is pretty much the formal equivalent of a coat and tails. The PC is great for an formal embassy dinner or a groom at a wedding, but not your run of the mill formal event. If the other guys will be wearing regular tuxedos then I would suggest wearing a black Argyle jacket instead and consider wearing a semi-dress sporran if you don't like the fur sporrans.