Integrity
An accounting firm’s currency is integrity. That is why this is a crisis for PWC, and the partner in charge is gone. He should have said something, even dropped the client under suspicion of wrongdoing. Once again, the story broke with a release of documents, 700,000 of them and they detail the theft of funds from the poverty-stricken African country, Angola. PWC is investigating but the damage is done. It will take time, perhaps a lot of it, for the firm to regain credibility among African clients. While there is no suggestion yet of wrongdoing by the partner, there is indication he looked away from the thievery that was occurring. It is an age-old conundrum. Should one dump a lucrative customer whom one knows is breaking the law? Most companies won’t. Accounting firms cannot afford not to.
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