Corruption is one of the most significant global issues we face. It erodes trust in society and government, it impedes investment and development, and harms our communities. Illicit financial flows, including corruption, bribery, theft and tax evasion, cost developing countries US $1.26 trillion per year, which is equivalent to the economies of Switzerland, South Africa and Belgium combined. This is removing much needed funding from public services, fuelling organised crime and driving away foreign investment from the economies which need it most.
Supporting the global fight against corruption and working to increase transparency in business, are central to everything we do at PwC and directly link to our purpose of building trust in society and solving important problems. This is why we are proud to announce our strategic partnership with Transparency International UK, a leading anti-corruption NGO, to support its efforts in this area.
This strategic partnership has come about following several years of our two organisations working together on business integrity initiatives, thought leadership and anti-corruption activities. The partnership will provide Transparency International with resources from our Forensic Services department to support its work in a number of areas. These include the development and delivery of the Corporate Anti-Corruption Benchmark, which is a comprehensive tool that measures and compares the performance of anti-corruption programmes across companies, and helps them enhance their corruption prevention and detection controls. The partnership will also work together on developing anti-corruption SME resources and thought leadership publications.
We are proud and delighted to formalise our partnership with TI UK. Together we will continue to fight global corruption to reduce the terrible impact it has on our clients and communities, and seek to improve transparency in business to help build trust in our society.