PwC Big On Staff Ethics

The Guardian reports that accounting firm PricewaterhouseCoopers (PwC) is working hard to educate staff on the ethical and integrity standards expected of them.

The firm has now confirmed that it has spent around £13m this year establishing and checking staff against a series of global performance standards. PwC has recently divested a number of businesses, including IT, human resources and insolvency consultancies so that there can be no question of potential conflict of interest with its main tax and accounting activities.

The whole question of accounting firms providing consulting services came under fire after the Enron affair revealed that Arthur Andersen may have been encouraged to turn a blind eye to certain of the company's questionnable accounting practices because the firm feared causing a stink might well jeopardise lucrative consulting contracts Enron had with the business.

Ethics and interity are clearly top of the agenda for accounting firms and PwC is determined to take a lead and show the profession the way.

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