Building trust 

Stakeholder engagement

The world is more interconnected than ever before. We work with our stakeholders to improve continually both our approaches and our contributions to issues that affect the firm, our clients, and our communities.

Our stakeholders

We have identified a group of primary stakeholders with whom we interact regularly to understand their evolving areas of concern and focus, as well as their views on the effectiveness of PwC’s approach to issues of concern.

    Investment community

Select engagement methods

  • PwC’s Investor Resource Institute enables us to share with, listen to, and learn from members of the investment community of all types and sizes, including asset managers, pension funds, mutual funds, buy-side analysts, sell-side analysts, credit rating agencies, hedge funds, and others. Our mission is to add value by sharing PwC’s insights and educational materials.
  • Host investor/analyst meetings, focusing on industry-specific financial reporting issues, emerging trends, and standards.
  • Host conferences for investors, aimed at providing a forum to exchange perspectives on a wide variety of topics of interest to the investment community.
  • Host inaugural cross-industry investor/analyst meeting to update participants on broad-based emerging accounting standards, provide insights from our annual CEO survey, and enhance participants’ understanding of emerging regulatory issues.
  • Conduct investor surveys to learn more about the corporate reporting and governance topics that are top-of-mind from an investor standpoint.
  • Engage in dialogue with many organizations and individuals representing investors and analysts, including the Council of Institutional Investors (CII), Corporate Reporting Users’ Forum (CRUF), and Chartered Financial Analyst (CFA) Institute, among others.

Value and outcomes achieved

  • Shared our insights with the investment community on some of the most complex and pressing issues of the day, including cybersecurity, macroeconomic megatrends, corporate governance, disclosure reform, high-frequency trading, and dark pools.
  • Gained an understanding of participants’ perceptions about financial reporting, explored emerging trends, regulations, and standards, and discussed other matters of interest.
  • Published investor-specific thought leadership to highlight insights and issues of concern to the investment community.
  • Used insights from the investment community to inform our points of view on emerging standards and a range of issues impacting financial reporting.
  • Utilized our relationships with the investment community to enhance their participation in the accounting standard-setting process and other groups dedicated to enhancing investor confidence and public trust in the global capital markets.

    US firm clients

Select engagement methods

  • Interact frequently with our clients throughout our engagements.
  • Conduct surveys and other outreach regarding PwC’s delivery of service.
  • Participate in regular meetings with audit committees during the course of our audit work.
  • Host periodic audit committee forums and roundtable discussions to engage in active dialogue around issues relevant to the group.
  • Continue a voluntary pilot program to discuss potential engagement-specific metrics with certain audit committees in order to obtain feedback on the overall usefulness of this information in fulfilling their audit oversight responsibilities.
  • Issue Our focus on audit quality annually, where we provide stakeholders with a transparent look at the foundation of quality in our assurance practice, including the actions we have taken, and will continue to take, to sustain and build upon audit quality.

Value and outcomes achieved

  • Engaged in valuable two-way dialogues during the course of our audit work with our clients and audit committees, where we shared our independent perspective on auditing, accounting, financial reporting, and regulatory developments.
  • Provided relevant insights to clients on how they can improve operations, controls, and other aspects of their business.
  • Developed thought leadership to inform audit committees and companies of matters important to their role, including corporate governance.
  • Enhanced our client service delivery based on feedback received.
  • Informed our views as articulated in our response letter to the Public Company Accounting Oversight Board’s (PCAOB) recent concept release on audit quality indicators.

    Regulators, standard setters, professional bodies, and trade associations

Select engagement methods

  • Participate and engage in dialogue with regulators, standard setters, and trade associations, such as the US Securities and Exchange Commission (SEC), Public Company Accounting Oversight Board (PCAOB), Financial Accounting Standards Board (FASB), Emerging Issues Task Force (EITF), US Chamber of Commerce, Council of Institutional Investors (CII), and Business Roundtable (BRT), through meetings, seminars, and advisory groups.
  • Respond to feedback from regulators regarding our firm and the profession.
  • Contribute to various professional organizations, such as the American Institute of Certified Public Accountants (AICPA) and the Center for Audit Quality (CAQ), through leadership and membership roles in committees and subcommittees.

Value and outcomes achieved

  • Obtained insights that help the firm to continuously improve audit quality.
  • Provided perspective on the various views and positions taken by these professional bodies with the objective of helping to improve financial reporting and audit quality.

    US Congress, and federal, state, and local governments

Select engagement methods

  • Engage in regular dialogue with US Congress, as well as with government officials at the federal, state, and local levels, both to understand key challenges and to provide our informed perspectives based on what we see in the marketplace.
  • Engage in dialogue and outreach with US Congress, and state and local governments through meetings, political events, and professional activities.
  • Respond to legislative proposals and congressional inquiries regarding the profession and our firm.
  • Participate in trade associations such as the American Institute of Certified Public Accountants (AICPA) and professional organizations such as the Center for Audit Quality (CAQ) to share intelligence and PwC’s views on issues of interest to the firm and the profession.
  • Encourage and support diversity through political strategy and policy outreach.
  • Review and develop thought leadership to inform firm partners and staff in the areas of legislation, regulations, and politics.

Value and outcomes achieved

  • Provided information and firm perspectives on areas of concern and focus by US Congress and federal, state, and local governments.
  • Enhanced stakeholders’ understanding of the firm’s views on a variety of legislative and regulatory proposals.
  • Gained insights that help the firm stay abreast of political and legislative risks and opportunities.
  • Provided the firm’s perspective on various legislative and regulatory proposals.
  • Increased overall awareness and understanding of the firm and the profession in US Congress, and federal, state, and local governments.

    Partners and staff, current and prospective

Select engagement methods

  • Issue leadership communications on our firm’s values and other messages, which actively solicit feedback.
  • Conduct our annual Global People Survey, which provides an opportunity for our staff to share their perspectives on the firm’s performance in various practice areas.
  • Encourage and support diversity by engaging partners and staff through involvement in inclusion groups and external organizations such as National Association of Black Accountants (NABA), Association of Latino Professionals in Finance and Accounting (ALPFA) and Ascend.
  • Interact with students and faculty on campus and through various development programs.
  • Promote an active dialogue during the interview process for both campus and experienced hires.

Value and outcomes achieved

  • Retained a high-performing employee population consistently focused on the values and goals of the firm, in particular with respect to quality in the performance of all professional services we provide.
  • Improved scores on our Global People Survey.
  • Improved attraction and retention, including diverse partners and staff.
  • Enhanced understanding by leadership of our staff’s views.
  • Increased overall awareness of PwC on campus and acceptance rates of top candidates.

    Retired partners

Select engagement methods

  • Engage in dialogue with a representative group of retired partners through the Retired Partner Committee.
  • Deliver periodic communications from our senior partner to our retired partner community.
  • Provide access to information and updates through a dedicated Retired Partner Portal.
  • Promote connectivity between active partners and retired partners in local markets.

Value and outcomes achieved

  • Received formal and informal input from retired partners on matters affecting them as a constituency.
  • Leveraged retired partners’ experience and skill sets on matters such as recruiting, business development, client relationship matters, and corporate responsibility activities.
  • Informed retired partners of firmwide matters.

    Alumni

Select engagement methods

  • Deliver targeted communications to subscribed alumni on a monthly basis.
  • Conduct engaging discussions with alumni around issues relevant to the group, and obtain feedback on the alumni program.
  • Connect with alumni through the PwC US Alumni and Strategy& LinkedIn groups.
  • Provide continuing professional education (CPE) webcasts at no cost.
  • Host periodic alumni networking events and industry roundtable discussions across the US.
  • Deliver distinct Strategy& alumni program to strategy consulting network.

Value and outcomes achieved

  • Provided firm updates and relevant news to alumni regularly.
  • Enhanced PwC’s understanding of alumni views and expertise on a variety of topics.
  • Engaged alumni on social media, while giving them an opportunity to expand their network.
  • Helped alumni maintain professional credentials free of charge.
  • Increased networking and knowledge exchange opportunities for alumni among one another, and with current PwC employees and partners.
  • Offered tailored networking and educational opportunities to former Strategy& consultants.

    Suppliers

Select engagement methods

  • Engage with diverse suppliers at key conferences and events sponsored by organizations, such as the National Minority Supplier Development Council (NMSDC), Women’s Business Enterprise National Council (WBENC), National Gay & Lesbian Chamber of Commerce (NGLCC), and US Business Leadership Network (USBLN).
  • Conduct our annual supplier sustainability survey to better understand our suppliers’ corporate responsibility performance and priorities.

Value and outcomes achieved

  • Built relationships with diverse owned business enterprises and increased the number of businesses we do business with.
  • Assessed compliance with PwC’s vendor code of conduct and the United Nations Global Compact principles.

    Communities

Select engagement methods

  • Volunteer in our local communities through firm-sponsored programs, such as Earn Your Future® (EYF).
  • Deliver pro bono services to select non-profit organizations.
  • Engage with key organizations aligned with our areas of focus of youth education, diversity and inclusion, and climate change.
  • Encourage partners and staff to participate on non-profit boards.

Value and outcomes achieved

  • Established stronger relationships with key non-profit organizations, schools, and community leaders.
  • Helped strengthen the mission of non-profit organizations.
  • Engaged millions of students and educators through EYF efforts.
  • Increased engagement of our partners and staff in volunteer, charitable, and other corporate responsibility activities.

Responsible sourcing and procurement

Building sustainable and responsible supply chains is one important way that businesses can have a tangible impact on some of the biggest challenges facing the world today. We recognize the influence we can have on suppliers and our supply chain to promote responsible and sustainable practices. As we monitor our supply chain, we engage our suppliers regularly to understand their corporate responsibility priorities and we seek out companies whose goals and values align with our own.

Third Party Labor Code of Conduct

Supplier Code of Conduct

Supplier diversity

We support organizations and programs that certify, train, and develop diverse suppliers because we know that our diversity efforts have a positive economic impact on the communities where we do business. Our procurement spend with diverse suppliers1 has increased from 9% in 2011 to more than 14% in 2015.

Here’s how we’re creating an inclusive and high-performing workplace culture

Collaborations

Our collaborations – with a range of organizations – also provide us with a valuable source of feedback, as well as the ability to reach more people, more effectively. We work with organizations on a variety of issues, including education, water conservation, and market-driven sustainability solutions.

  1. Business enterprises that are qualified and certified minority-owned (MBE); women-owned (WBE); disability-owned (DBE); veteran-owned (VBE); service-disabled veteran-owned; and/or lesbian/gay/bisexual/transgender-owned (LGBTBE).