Public Agenda

Why this matters to PwC

Our contribution to the public agenda helps to shape public policy – which in turn affects the way that we, and other organisations throughout the UK, organise and run our business. By virtue of what we do, and of our size, profile and client base, we are uniquely positioned both to influence the public agenda – and to be influenced by it.

This is why we must think and talk about critical issues for the long-term well-being of the UK economy and wider society. By doing this, we can stimulate the type of informed public debate that leads to considered public policy-making.

What we do

In all our efforts to contribute to the public agenda, we seek to share our thinking and professional expertise to inform policy-makers and wider stakeholders about crucial social and economic issues. Here are seven issues on which we took strong public positions during 2006.

Creating a vibrant UK economy – In our view, it is vital that the UK retains reporting and regulation based on UKstyle principles rather than US-style rules. In 2006 we made continuing efforts to put this view across to government and regulators via many forums and channels.

Efficient public services – We regularly advise the public sector on ways to improve the efficiency and quality of service delivery. People's expectations of public services continue to rise while financial resources become increasingly squeezed. This means many traditional ways of delivering services are no longer fit for purpose, so we collaborate with leading think tanks to develop, suggest and apply new approaches.

Value of the audit – We continue to lead the public debate about the role and future of our profession. Following the events at Enron five years ago, we – like the rest of the profession – are committed to ensuring audit quality meets the expectations of companies and their stakeholders. So in 2006 we continued to work hard to support the IAASB, and to ensure that actions at a European or global level do not undermine the UK profession's quality or contribution.

Corporate transparency – We consistently champion better, more relevant reporting, giving strong support in 2006 to the Government's introduction of the Business Review. Given the rising importance of intangible assets, we also believe that financial accounting can only partially explain business performance. To press this view, we joined the Prince of Wales's Accounting for Sustainability project, conducted our fourth annual Building Public Trust awards, and helped to create the multistakeholder Report Leadership Group.

Building Public Trust Award 'For Telling It How
It Is' in the FTSE 100: Martin Greenslade of
Land Securities Group PLC and Kieran Poynter.

Helping to address sustainable development challenges – We have a leadership role in the World Business Council for Sustainable Development (WBCSD), a coalition of over 190 major companies that share a commitment to the principles of sustainable development. Sam di Piazza, CEO of PricewaterhouseCoopers International, is on both the WBCSD Council and the Executive Committee and chairs a focus area examining the Role of Business in Society. We are also contributing to the WBCSD's work on Development through our international development network, our Africa team and our Total Tax Contribution work. And we are a member of the Sustainable Forest Products Industry group.

Globalisation and the environment – In March 2006 we published The World in 2050, highlighting the implications for the global climate of headlong growth in emerging economies such as China, India and Brazil. We followed this up in September by calculating the effects of world GDP growth on carbon emissions. Our conclusions anticipated those of the Stern review later that year.

Efficient tax system – We engaged with the revenue authorities throughout 2006 about the efficiency and impact of the tax system. We were especially vocal on the need to simplify business taxation, clarify antiavoidance legislation, and plan for the impact of globalisation. This work extended to our joint project with the World Bank to compare tax systems around the world. Evidence from the report suggests that simpler tax systems promote economic growth and can help achieve a win/win for governments and industry. During the year we also published our second Total Tax Contribution survey for The Hundred Group.

• Case studies
• Contacts