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.