Independence is about objectivity, scepticism and integrity. It is the hallmark of the audit profession, at the heart of our culture, and fundamental to everything we do. PwC’s mandate to audit public companies is founded on our independence and professional competence.
Over the last decade we’ve seen many changes around the world designed to enhance independence and objectivity. We believe these reforms have been, and increasingly are proving to be, effective. However, public perception still lags reality.
That’s why we believe there is room to build on the safeguards and reforms that are already in place stronger national regulation, consistent high standards of independence, transparency and enhanced governance. We believe the audit committee are the best people to oversee how auditors are appointed, what kind of work they’re allowed to do, and their fees.
PwC Point of View setting out alternative options to enhance the quality of the audits of financial institutions, including banks
How do artificial market interventions like mandatory auditor rotation and audit-only restrictions impact audit market competition? PwC says they increase costs and reduce efficiency.
At PwC, objectivity, quality and integrity are at the heart of everything we do. Download this PwC Point of View to learn where we stand on proposals to limit the scope of services that audit firms can provide.
Download this PwC Point of View to learn where we stand on European Commission proposals to curb the collective reach of the Big Four accounting firms, and on the benefits of scale for a global firm in a global business environment.
At PwC, independence, objectivity and integrity are at the heart of everything we do. Download this PwC Point of View to learn where we stand on corporate governance, transparency, and the role of the audit committee.