Stakeholder engagement

Stakeholder engagement

Stakeholder engagement is an important part of what we do as a professional services firm, as an employer, and as a member of broader society. In each of these roles, we use stakeholder engagement to help us seek continuous improvement. We are working to identify the important issues for our stakeholders, assess the effectiveness of our approach to engagement, and improve our impact over time. We have identified our primary stakeholders as those who have a significant interest in the actions and views of the firm, and whose actions and views are, in turn, of significant interest to us.

Explore our interactive graphic to learn about our stakeholder engagement:

Stakeholders

Investment community

Select engagement methods

  • Launched PwC’s Investor Resource Institute, which focuses on sharing PwC’s views on the many issues of interest to the investment community, including industry perspectives, reporting, accounting, auditing, corporate governance, and sustainability.
  • Conducted investor roundtables, focusing on sector-specific financial reporting issues and how the role of the auditor might be enhanced.
  • Hosted an annual conference for investors, aimed at providing a forum to exchange perspectives on a wide variety of topics.
  • Launched our first investor survey in order to learn more about what corporate reporting and governance topics are top of mind from an investor standpoint.
  • Engaged in dialogue with organizations that represent investors, including CRUF and CII.

Value and outcomes achieved

  • Provided the information and perspectives of interest to the investment community.
  • Enhanced PwC’s understanding of investors’ views on a variety of topics.
  • Delivered “Our Focus on Audit Quality” report, to provide greater transparency about our audit practice and our focus on quality.
  • CRUF: Corporate Reporting Users’ Forum
  • CII: Council of Institutional Investors

U.S. firm clients

Select engagement methods

  • Interacted frequently with our clients throughout our engagements.
  • Conducted surveys and other outreach regarding PwC’s delivery of service.
  • Participated in regular meetings with audit committees during the course of our audit work.
  • Hosted periodic audit committee forums and roundtable discussions to engage in active dialogue around issues relevant to the group.

Value and outcomes achieved

  • Valuable two-way dialogues during the course of our audit work with our clients and audit committees where we share 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.

Regulators, standard setters, and professional bodies

Select engagement methods

  • Participated and engaged in dialogue with regulators and standard setters such as the SEC, PCAOB, the FASB, and the EITF through meetings, seminars, and advisory groups.
  • Responded to feedback from regulators regarding our firm and the profession.
  • Contributed to various professional organizations such as the AICPA and the 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.
  • SEC: U.S. Securities and Exchange Commission
  • PCAOB: Public Company Accounting Oversight Board
  • FASB: Financial Accounting Standards Board
  • EITF: Emerging Issues Task Force
  • AICPA: American Institute of Certified Public Accountants
  • CAQ: Center for Audit Quality

Partners and staff, current and prospective

Select engagement methods

  • Issued leadership communications on our firm values and strategy, which actively solicited feedback.
  • Conducted our annual Global People Survey which provided an opportunity for our people to share their perspectives on the firm’s performance in various practice areas.
  • Encouraged and supported diversity by engaging partners and staff through involvement in affinity groups and external organizations such as NABA, ALPFA, and Ascend.
  • Interacted with students and faculty on campus and through various development programs.
  • Promoted an active dialogue during the interview process for both campus and experienced hires.

Value and outcomes achieved

  • 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 people’s views.
  • Increased overall awareness of PwC on campus and acceptance rates of top candidates.
  • NABA: National Association of Black Accountants
  • ALPFA: Association of Latino Professionals in Finance and Accounting 

Retired partners

Select engagement methods

  • Engaged in dialogue with a representative group of retired partners through the Retired Partner Committee.
  • Delivered periodic communications from our senior partner to our retired partner community.
  • Provided access to information and updates through a dedicated Retired Partner Portal.
  • Promoted 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

  • Delivered monthly alumni electronic communications, providing updates on firmwide activities.
  • Offered access to continuing professional education (CPE) webcasts.
  • Provided seasonal networking opportunities for key alumni segments.

Value and outcomes achieved

  • Informed alumni of firmwide updates and activities relevant to them.
  • Increased network opportunities for alumni.
  • Helped alumni maintain professional credentials.

Suppliers

Select engagement methods

  • Engaged with diverse suppliers at key conferences and events sponsored by organizations such as the National Minority Supplier Development Council and Women’s Business Enterprise National Council.
  • Conducted our annual supplier survey to understand their corporate responsibility performance and priorities.

Value and outcomes achieved

  • Built relationships with minority- and women-owned business enterprises (MWBEs).
  • Assessed compliance with PwC’s vendor code of conduct and the United Nations Global Compact principles.

Communities and NGOs

Select engagement methods

  • Volunteered in our local communities through firm-sponsored programs, such as Earn Your Future.
  • Delivered pro bono services to select non-profit organizations.
  • Engaged with key organizations aligned with our areas of focus of youth education, diversity and inclusion and climate change.
  • Participation by our partners and staff 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 500,000 students and 18,000 educators through Earn Your Future efforts.
  • Participation of nearly 71% of our people in volunteer, charitable and other CR activities.