PwC Announces Its Global Code of Conduct
Samuel A. DiPiazza, PwC's global CEO, explained that the code is a response to "today's challenging business climate" and said, "We hope it will be a model for the profession."
The principles of the code are provided on PwC's Web site . Examples:
- When speaking in a forum in which audiences would reasonably expect that we are speaking as a representative of PwC, we generally state only PwC's view and not our own.
- We offer only those services we can deliver and strive to deliver no less than our commitments.
- We meet our contractual obligations and report and charge honestly for our services.
- We try to balance work and private life and help others to do the same.
The U.S. firm has a special supplement tailored to local needs. In recent years, it has suffered the stings of a series of auditor independence violations and negative publicity associated with multiple rounds of post-merger layoffs. PwC's announcement emphasizes that the code is not a "knee-jerk" reaction to the current crisis of confidence in the financial markets and the accounting profession.
Enforcement issues are addressed on the Web site in a general sort of way. The site says that processes have been put in place to investigate reports of non-compliance, and sanctions will be imposed on those who violate the code.