1

Corporate Responsibility Report FY16Singapore

www.pwc.com/sg

2

3

Table of Contents

Introduction 4Message from Executive ChairmanAbout this reportUnderstanding our businessOur Corporate Responsibility strategyMateriality assessmentStakeholder engagement

Our community engagement journey 15

Environmental stewardship 20

Diversity & Inclusion 21

Responsible business 27

GRI G4 Index 31

4

PwC Singapore’s Corporate Responsibility (CR) Report presents the key aspects of our CR strategy, policies and performance relating to social, economic and environmental issues.

This report is for the financial year 1 July 2015 to 30 June 2016 (FY2016) and is in accordance with the GRI G4 ‘Core’ option. A summary of the GRI index and the relevant references can be found on page 31.

For the purpose of this report, our scope covers the CR practices and initiatives at PwC Singapore. All the data, statistics and information are in relation to the Singapore operations unless otherwise stated. During the year, there were no significant changes in the size, structure, ownership or supply chain of PwC Singapore and its participating interests.

Although our report has not been externally assured, we have strong data collection controls and verification processes that ensures that the information presented in this report is accurate and complete.

Feedback

A soft copy of the report can be downloaded from our website. We are fully committed to listening to our stakeholders and we welcome feedback on this report and any aspect of our sustainability performance. Please refer to the last page for our contact details.

About this report

5

Message from Executive ChairmanGlobalisation and technology is changing the world at a pace never seen before. Technology has given rise to a level of interconnectivity amongst people and businesses unlike yesteryears and this has significantly changed the business landscape, forcing organisations to rethink how they engage with their stakeholders.

Operating in these extraordinary times requires new ways of communicating, higher levels of accountability and greater transparency to a wider range of stakeholders and also deeper focus on trust and purpose of the business.

Pursuing financial growth is no longer any firm’s sole priority. To remain relevant and to achieve sustainable growth, companies must build a strategy based upon a longer-term vision of growth, embracing equality, innovation, diversity and inclusiveness. Therefore, at PwC, we believe in pursuing sustainable growth, one where we innovate and collaborate with multiple stakeholders to build trust with the community and the world.

Last year, we launched our refreshed PwC Values to redefine our business and take the PwC Network into the future. Our five core values, outlined on Page 10, forms the bedrock for our PwC Culture. Also, the PwC Professional, outlined on page 29, defines the attributes, skills and capabilities of our PwC employees who will be fit for the future; one who is able to deliver the PwC Experience to our stakeholders and be able to stay relevant in this fast changing world.

Having embraced Corporate Responsibility (CR) into our organisational construct for many years, it is now time to take a step back and reassess our approach. We have invested to build a dedicated Corporate Responsibility team, and have provided numerous opportunities for our people to actively contribute to society via strategic programmes aligned with PwC’s growth priorities.

Our FY16 CR Report showcases our firm’s CR priorities and highlights our four flagship programmes focused on: Community Engagement, Environmental Stewardship, Diversity & Inclusion and Responsible Business.

We will continue to anchor and develop our CR strategy around the four focus areas to shape and secure the future of our profession.

Yeoh Oon JinExecutive Chairman, PwC Singapore

6

PwC in a snapshot

2,696 employees59% are women

Skills-based Volunteering: 516 man-days

29% of Directors and Partners are women

1,638 volunteers61% of total headcount

General Volunteering: 1,232 man-days

S$260,795 donation in cash made by employees and firm and more than

S$3million to our communities by way of financial support, volunteers’ time as

well as the provision of business expertise and knowledge.

7

About PwC SingaporeAt PwC, our purpose is to build trust in society and solve important problems. We are a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services.

PwC Singapore is a member firm of this network, and is responsible for its own risk and quality performance and for driving continuous improvement. There are some common principles and processes to guide PwC member firms in applying our standards.

Major elements include:

The way we do business

PwC member firms undertake their business activities within the framework of applicable professional standards, laws, regulations and internal policies. These are supplemented by a PwC Code of Conduct applicable to all of their partners and employees.

Sustainable culture

To promote continuing business success, PwC member firms nurture a culture that supports and encourages PwC people to behave appropriately and ethically, especially when they have to make tough decisions. PwC people have ready access to a wide array of support networks within their respective firms – both formal and informal – and technical specialists to help them reach appropriate solutions.

Policies and processes

In addition to the common standards and policies of the PwC network, PwC member firms also have access to common methodologies, technologies and supporting materials for many services. These methodologies, technologies and materials are designed to help member firms, partners and employees perform their work more the way PwC does business.

Understanding our business

8

Leadership and GovernanceWe have an active management team referred to as the Leadership Team (“LT”) which is collectively accountable for setting out and executing on the firm’s strategy and the overall running of the firm. The LT comprises nine partners drawn from the three Lines of Services (LoS) - Assurance, Tax and Advisory, led by the Executive Chairman who is elected into office. Each member of the LT has been assigned specific areas of responsibility.

The LT works in tandem with three councils, namely Markets, Talent Development and Risk. The councils review the various priorities of the firm and are represented by partners and key management. The oversight and governance over the LT is via the Board of Partners. As the governance body of the firm, its role includes to advise the Executive Chairman of considerations of the partners and shareholders and to review the processes adopted by management in its decision making.

Members of the LT

Yeoh Oon Jin

Sim Hwee Cher

Ong Chao Choon

Chris Woo

Sam Kok Weng

Theresa Sim

Marcus Lam

Greg Unsworth

Ling Tok Hong

9

Our credentials and accolades

Our accolades in PwC Singapore

We have received the following recognition and awards:

International Accounting Bulletin Awards 2016• Audit Innovation of the Year

2016 AmCham CARES Award• Recognition for commitment to conduct business

in a way that creates long-term economic and social value

Singapore Accountancy Awards 2016• Best Practice Award (second consecutive year)

CFO Innovation Awards 2015• Best in Audit Services

Singapore’s 100 Leading Graduate Employers Awards 2015• Graduate Employer of the Year in Singapore

(fifth consecutive year)• Top Employer in the Accounting and Financial

Management sector (fifth consecutive year)• Top Employer in the Consulting sector

(third consecutive year)

HFM Awards Asia 2015• Hedge Fund Services Awards - Best Tax Advisory

Universum World’s Most Attractive Employer 2015• Number one professional services network of firms globally• Second most attractive employer for business students,

after Google

2014 President’s Award for Volunteerism (Corporate)• President’s Award for Volunteerism (Corporate) 2014

Acquisition International 2014 Finance Awards• Risk Assurance Practice of the Year

ACCOUNTING & FINANCIALMANAGEMENT

WINNER

SINGAPORE’S2015

OFFICIAL MEDIA PARTNER

CONSULTING

WINNER

SINGAPORE’S2015

OFFICIAL MEDIA PARTNER

GRADUATE EMPLOYEROF THE YEAR

WINNER

SINGAPORE’S2015

OFFICIAL MEDIA PARTNER

10

PwC ValuesPwC Purpose

Our PwC Purpose ‘to build trust in society and solve important problems’ describes the work we do today, and guides our decision-making for tomorrow.

As our business evolves, our collective and individual commitment to the PwC Purpose – the foundations of our network is what drives what we do. It is our purpose that has made us successful in the past and will guide our success in the future.

Over 160 years ago, we helped shape the rules of Accounting to promote more transparency in business, and ever since we’ve played a key role through periods of uncertainty – from the Great Depression to the Global Financial Crisis – helping our clients and society navigate a path towards recovery and prosperity.

Our purpose helps to inspire the behaviour of a large number of people across our global network. To deliver on this Purpose, our business is continuously innovating and investing, and also making choices aligned with our values.

PwC Values and Behaviours

We have engaged with our entire network to define how we want to work with our clients and each other, now and in the future.

Our Values make up the basis of our distinctive PwC Culture and Network. These five core values and behaviours were defined out of feedback from more than 130,000 of our people who answered the Global Values Survey, in addition to the Global People Survey and our Brand Health Index scores. Our Values build off our current strengths such as value, quality, relationships and empathy, captured in the PwC Experience behaviours, explained below.

We strive to consistently deliver a distinctive experience, the PwC Experience, to our clients and people we work with. The PwC Experience encompasses four distinct behaviours which are exhibited in our daily interactions with both our clients and our employees. The PwC behaviours are:

1. Investing in teams/client relationships;

2. Putting ourselves in our clients’ and each others’ shoes;

3. Share and collaborate; and

4. Focusing on client value and on enhancing the value of our people.

These global values and behaviours capture our shared aspirations and expectations. They will empower our business to be resilient, open-minded and innovative as we face an ever more complex and changing world and increasingly work with more diverse and physically dispersed clients and teams.

PwC Values

Care

Make a difference

Work together

Act with integrity

Reimagine the possible

11

Shaping the future of our Firm’s Community agendaOur Approach

Through CR, we seek to go beyond ‘doing the right thing’ to being a catalyst for change in four focus areas: responsible business, diversity and inclusion, community engagement, and environmental stewardship. We aim to leverage our core skills and activities to help our clients address CR issues while acknowledging the need to also address them in our own business. We want to be part of the global conversation and movement towards responsible business practices that create positive change in the world. We want to be part of the solution. We call this being “part of it”.

Our Focus

Community Engagement Our community investment activity is guided by our Maximising Potential framework, where our aim is to create positive change in: youth education and building the capacity of not-for-profits. Environmental Stewardship Our efforts are focused on reducing energy usage from our office and air travel – which are by far the greatest source of our carbon emissions. Diversity and Inclusion At PwC, we respect and value differences. We know that when people from different backgrounds and with different points of view work together, we create the most value – for our clients, our people and society. Responsible Business Our focus on responsible business is about realising opportunities for positive impact through our value chain – including our work with clients and suppliers. We recognise that the most significant societal contribution we make is through the work we do every day.

Our Corporate Responsibility strategy

partof it:

PwC is part of the solution to

responsible business challenges.

We aim to: We focus on: We manage CR using:

Do the right thing

and Be a catalyst

for change

Responsible BusinessDiversity and Inclusion

Community Engagement

Environmental Stewardship

Our leadership ladders

12

PwC’s Community agenda

• Community outreach

• Capacity building for non-profit organisations

Community Engagement

• Focus on valuing differences and discovering unconscious bias

• Creating a healthy workplace for everyone

Diversity & Inclusion

• Building trust in the marketplace

• Using our expertise to help shape the profession through participation on boards/committees

Responsible Business• Commitment to

reducing our CO2 footprint

Environmental Stewardship

13

What is important to our stakeholders in the four focus areas?It is essential that we report on issues that are of significance and importance to PwC and our stakeholders.

In doing so, we also took into consideration the sustainability context in which we operate to help determine and identify the key issues.

The result of the above is represented by the ‘materiality matrix’ where we map the issues our stakeholders are most concerned with against those with the most impact to our business in the next page.

Materiality assessment

Identification

CR issues that are relevant to stakeholders

Step 1

Prioritisation

Issues based on stakeholders’ concerns

Step 2

Validation

Completeness and accuracy of issues and topic

Step 3

Step 4Review

Survey with stakeholders and assessing CR issues on an ongoing basis

CR Report

14

What is important to our stakeholders?This table shows who are the stakeholders identified and which of the four focus areas matters to them.

Engagement Plan

Community Engagement

Environmental Stewardship

Diversity & Inclusion Responsible Business

Employee/Partner • • • •

Clients • •

Graduates • • • •

Local Community • • • •

Industry Associates & Professional Bodies

• •

Performance IndicatorsInternal

StakeholdersExternal Stakeholders

Employee/Partner

Clients GraduatesLocal

CommunityIndustry Associates & Professional Bodies

Investment in the community (EC7) • • •

Local community engagement, development programmes (SO1)

• • •

Environmental stewardship

• Energy consumption (EN3) & Indirect energy consumption (EN4)

• Greenhouse gas (GHG) emissions (EN14-17)

• Initiatives to reduce GHG emissions (EN19) and mitigate environmental impact (EN27)

• •

Participation in public policy development (SO4)

• •

Customer satisfaction survey (PR5) • •

Training for employees (LA9) • •

Regular performance & career development reviews (LA11)

•

Workplace

• Breakdown of employees by gender (LA12)

• Equal employment opportunities – number of hires and turnover (LA1)

• Benefits for employees (LA2)

• • •

This table shows which GRI performance indicators are relevant to the stakeholders identified.

15

Our community engagement journey

Adopted Child @Street 11

First overseas community service to Shanghai

First Banda Street event – Give a Bag of Joy

Support Shared Services for Charities in Skills-based Volunteering

Sponsored, produced and launched The Chandelier Book to benefit Child @ Street 11

Lighting Banda Street - changing to energy saving light bulb

President’s Award for Volunteerism 2014 (Corporate)

SG50 -Colouring Banda (13 mural walls painted in the heart of Chinatown)

Skills-based Volunteering Launch

Mass tree planting

Accounting workshops for charity organisations

Great World @ Banda Carnival

AmCham Cares Award 2016

Launched SBV leave

CR Initiative Competition

2004 2005 2008 2011 2014 2015 2016

Blooming Banda Street - Distribution of new mattresses to elderly residents and setup community rooftop garden

2013

16

Being in a leading and responsible profession involves actively contributing to our Community and protecting our Environment. In PwC, we take CR seriously as:

•Our Purpose. Community engagement and good environmental stewardship are integral to our PwC Purpose to build trust in society;

•Our Duty. Being good corporate citizens, giving back to society, helping the needy, actively promoting sustainability issues, are our basic duties;

•Our People’s Development. We want to develop our people to give back to the community and care for the sustainability of our environment.

To realise the above, we have put in place extensive initiatives and programs:

SBV Leave. Employees are given up to 16 hours of paid working time per year to contribute to the community by volunteering their skills and areas of expertise

CR Initiative Competition. Business units and coaching groups are invited to submit a proposal on a CR initiative their units would like to undertake and the winning teams will be provided a sum of money as well as support from the CR committee to undertake these projects.

All our operations in PwC Singapore have implemented local community engagement programs.

124 employees involved in skilled based volunteering

1,571 employees participated in general volunteering events

516 man-days were spent on skills-based volunteering

1,232 man-days were spent on general volunteering

$260,795 donation in cash made by employees andfirm,morethan $3million to our communities bywayoffinancialsupport, our volunteers’ time as well as the provision of business expertise and knowledge

Community engagement

17

Engaging our community through the Banda Street ProjectOur annual Banda Street Project is one of PwC’s flagship programmes through which the Firm offers assistance and support to 500 units of low-income families and seniors living in 1-2 room rented flats in the Chinatown area. Since 2008, PwC has been collaborating with the residents’ committee to explore various ways to help improve the living condition of the elderly residents. Previous assistance offered include replacing mattresses and changing to energy efficient light bulbs.

In 2015, Minister Chan Chun Sing launched 13 heritage murals which were hand painted by over 500 PwC volunteers and took over 1,000 man-hours to complete as part of the SG50 celebration.

In 2016, together with the Kreta Ayer Residents Committee and the Singapore Kindness Movement, the volunteers relived some good old fun with the residents in the area with old school activities such as tikam tikam, wheel of fortune, gaming booths and an enjoyable day of karaoke entertainment.

18

Engaging and training the Non-Governmental Organisation (“NGO”) sectorIn addition to directly engaging our community, we also recognise the importance of helping to build a stronger NGO sector. In April 2015, PwC launched the Skills-based volunteering initiative in conjunction with a corporate governance seminar for board directors and managements of charity organizations. It was well attended by over 140 participants from various Voluntary Welfare Organisations. In continuation of this journey, we invited charities to the recent seminar in April 2016, entitled: Demystifying Strategic Planning – Strategic planning for Charity Organisations. This interactive seminar offered a good insight for charity organisations on how to develop and apply strategies that are critical to their success.

Furthermore, through the feedback received, the charities have identified training needs in preparing their non-financial staff with basic accounting knowledge. Hence, various teams volunteered their time to develop a series of customised training workshops based on their assessment and conducted the training at the charity’s venue. The topics include:

1. Basic principles of Accounting and Finance;

2. Budgeting; and

3. Internal controls.

19

Engaging the community outside Singapore through Overseas Community Projects (“OCP”) PwC collaborates with YMCA to organise Overseas Community Projects for our employees to volunteer in various community activities in Southeast Asia countries, such as educating the young and building roads and schools. Since 2005, PwC has covered more than 10 cities in 6 countries, including Shanghai, Siem Reap, Phnom Penh, Sichuan, Ho Chi Minh, Koh Rokar, Luang Prabang, Dalat and Pathein.

“We worked hard with the local volunteers to lay the foundation of the building; it was tiring, and on one day we even worked under the rain, yet it wasafulfillingexperienceforme.Everylittleeffortcounts, I hope that the foundation that we lay, will onedaysitonabuildingthatcanbenefitthepeoplearound there”

Ming En, OCP Myanmar

20

Carbon Emissions from scope 2 – purchased electricity (tCO2e): 920

Environmental stewardship

Shaping our community through our green initiativesPwC’s ambition in relation to our Environmental Stewardship is to minimise negative environmental impact as well as to constantly educate and develop policies to reduce our carbon footprint.

Interactive activities are organised during Earth Hour and Eco-week to promote environmental awareness. The programmes include the Nature Care project where PwC partnered with NParks to engage local beneficiaries in fun and green activities.

In celebration of SG50, PwC participated in the NPark CG SG50 Tree planning initiative by planting 50 trees along East Coast Park.

Other initiatives that have been rolled out include the removal of styrofoam cups from pantries, E-waste recycling bin made available in office as well as sustainable and responsible sourcing when engaging vendors. Our GHG footprint is calculated using activity data that is input into the cr360 system. The cr360 system is a CDP-accredited and GRI-certified software provider that calculates GHG emissions.

Our scope includes the use of purchased electricity for our office spaces, cab travel and air travel by employees for business purposes.

Net Carbon Emissions per employee (tCO2e): 2.31

Carbon Emissions from scope 3 – cab travel (tCO2e): 740

Carbon Emissions from scope 3 – air travel (tCO2e): 4,579

21

Diversity & Inclusion

What does Diversity and Inclusion (“D&I”) mean to us?

Our goal – We are committed to creating an inclusive environment where everyone can feel comfortable and confident in being themselves and one that enables all to perform at their best.

Why is D&I important to us?

We respect and value differences at PwC. We know that bringing together the perspectives of individuals of all backgrounds, skill-sets, life experiences, preferences, abilities, and beliefs will help to create better outcomes for our clients, our people, and our communities.

Our diversity initiatives and strategies are designed to attract, develop and advance the most talented of individuals.

We adopt a ‘2+1’ global approach to tackling the many different dimensions of diversity. Our Singapore firm comprises of more than 2,600 people with over 59% of our new graduate hires being female and being from over 40 nationalities. In addition to focusing on gender and valuing difference, we focus on an additional dimension of diversity, which is of high local priority. In the case of Singapore, our ‘+1’ focus is ethnicity.

Globally, in 2015, PwC launched an Inclusion Index to measure our annual progress in relation to D&I. Locally, measures are in place to monitor our progress in relation to D&I at the firmwide level and also by line of service.

Diversity, valuing differences and inclusion – what does it all mean?

Diversity at PwCBringing together the perspectives of individuals of all backgrounds, life experiences, preferences and beliefs to create better outcomes for our clients, our people and our communities

Valuing differencesCollective and individual’s ability as PwC professionals to thrive in a talent diverse environment where each other’s perspectives are appreciated and respected

A culture of inclusionAn environment where people can be their true selves, sharing their unique perspectives while knowing their contributions are valued

Having diverse peopleA PwC workplace that brings together the perspectives of individuals of all backgrounds, life experiences, preferences and beliefs

22

About our numbers

Whilst there isn’t a formal policy in place, we have consistently placed an emphasis on developing and retaining female talent in support of gender diversity.

We are particularly proud of when we announced that out of the eight new partners admitted on 1 July 2016, six were female. However more significantly, they originated from five different cultures and nationalities – namely Australia, India, Myanmar, the Netherlands and Singapore, and have extensive international work experience.

Valuing difference,

driving inclusion

DIVERSITYis the mix.

INCLUSIONis respecting the difference.

Partners Directors Managers New Partner admission in last 3 years

New graduate

hires

75%

25%

64%

36%47% 53% 40% 60% 41% 59%

nationalities

Over

40 of our employees are Gen Y

77%

61% Singaporean Partners

23

Our initiatives

GenderAs part of our global HeForShe commitment as an Impact 10x10x10 Corporate Champion, PwC has publicly committed to leverage its Global Inclusion Index to further increase women in leadership roles. PwC’s diversity initiatives are an integral component of our strategy to enable all our professionals to achieve high performance and career success. They also align with PwC’s purpose: to build trust in society and solve important problems.

International Women’s Day

To celebrate International Women’s Day, on 8 March 2016 we hosted a panel discussion for our people on the issues surrounding gender diversity and global mobility. More than 150 employees took part in the event facilitated by Sakaya Johns Rani, our Global Mobility Services Leader, with the panelists including Trillion So, Human Capital Leader and Alvin Chiang, Risk Assurance Senior Manager. Discussions highlighted that more often than not, it is the little things that companies often overlook when planning overseas assignment opportunities. It is not unknown that doing an assignment overseas comes with complications. However, for women, this might prove even more challenging.

24

HeForShe Challenge

PwC Singapore also joined the United Nations’ HeForShe campaign to engage men and boys in removing the social and cultural barriers that prevent women and girls from achieving their potential.

As a corporate champion, PwC has a key role – and a unique role – to play in the HeForShe campaign. In order to increase the awareness of the campaign, the PwC network held a HeForShe Challenge to encourage PwC professionals to take the HeForShe pledge for gender equality.

During the six-week global challenge, more than 20,000 new pledges were recorded, including 10,000 from men across the PwC network.

25

Valuing differenceUnconscious bias awareness sessions

In FY16, we launched our pilot unconscious bias training that aims to increase the awareness of our people on how unconscious bias is one of the main barriers to achieving an inclusive workforce that values and embraces differences. To have a truly inclusive environment, we need to first understand our unconscious bias. All our partners have either completed a classroom training session on the session or an e-learn session.

Diversity and Inclusion was also a topic discussed at some of our milestone training sessions.

Lunch with a Stranger

Lunch with a Stranger was a platform we piloted in FY16 for people to meet over lunch. The objective was to break down work silos, meet new people, dispel biases/stereotypes and promote inclusion. Sixty participants took part and met for the first time a fellow employee within the PwC Singapore family, sharing about what they do in their work and personal life, breaking barriers and forming new friendships.  

Inspire Talk by Mohammad Asif Iqbal as part of the Inspire Talk Series

Mohammed Asif Iqbal, a Management Consultant at PwC India, led an Inspire Talk session as part of our Inspire Talk Series sharing his experiences and challenges with his visual impairment. Alongside his Singapore colleagues, Asif shared his successes in being the first blind commerce graduate from St. Xavier’s college, Kolkata, first MBA (HR) from Symbiosis (SCMHRD, Pune) and fifth blind Indian citizen to be certified with an MBA.

This Inspire Talk was hosted by the D&I committee alongside the Junior Board as part of their Inspire Talk Series that invites inspirational speakers to share their personal experiences on how they have achieved success in life, and in turn, inspire our own people to realise their potential.

26

Diversity advocates

Our Executive Chairman, Yeoh Oon Jin is a BoardAgender SG50 Champion of Change. The BoardAgender SG50 Champions of Change call on every corporate leader to make the change for gender-balanced business in Singapore.

Antony Eldridge, our Financial Services Leader is a Financial Women’s Association (Singapore) Male Champion.

Thought leadership

We launched our thought leadership, Modern Mobility: Moving Women with Purpose which looks at creating gender inclusive mobility in March 2016 and held a client event for HR leaders on women in mobility including on the importance of HeForShe in December 2015.

We partnered with Women in Mining and Resources (WIMAR) Singapore to carry out research on their members and their perceptions of the mining and resources industry in Singapore and selected employers. The report, launched in June 2016 provides insights into the minds of the women in the industry in Singapore and suggests concrete steps that can be taken to promote gender parity in the industry in Singapore.

Contributing to the conversation

PwC helped contribute to the diversity discussion in the marketplace through providing stories and profiling our diversity advocates in print and online media throughout FY16. Our contributions were published by CPA Australia in Business Times, Chartered Accountants Australia and New Zealand, Austcham and AsiaLink amongst others.

Additionally, our people shared their insights and experience through speaking opportunities held by SMU and SNEF, CPA Australia, AsiaLink Women in Leadership, Financial Women’s Association (New York), the French Chamber of Commerce as well as at various corporate events on gender diversity.

27

Responsible business

Trust and Quality are critical for our profession and for PwC. This is why PwC’s Purpose is to build trust in society and solve important problems for our clients, and the way that we go about achieving this is to continually focus on Quality. As one of the leading firms in our profession, we believe that PwC has much to contribute towards the Profession’s Trust agenda.

In PwC, our emphasis on Trust and Quality is based on four key pillars:

Influence through

professional organisations

Getting our framework right

Strong tone at the top and

dedicated resources

Continual improvement

Trust and Quality

28

Getting the framework right

PwC strives to demonstrate the highest values and professionalism in serving our clients and in business dealings with all our strategic partners. We conduct our business within the framework of applicable professional standards, laws, and regulations together with PwC policies and standards. However, we also acknowledge that these standards, laws, regulations and policies do not govern all types of behaviour. As a result, we also have a Code of Conduct for all PwC people and firms. This Code is based on our values and provides a frame of reference for PwC firms to establish more specific supplements to address territorial issues.

Every PwC employee has an obligation to know and understand the guidelines of the Code and the values on which they are based.

Every year, all employees participate in the obligatory Annual Compliance and Ethics Update Training including anti-corruption policies and procedures. This is to confirm the employee’s understanding of and compliance with the firm’s Risk Management Standards and Independence Policies.

During the annual ethics training, employees are reminded of the available avenues to seek advice on, or to report any unethical, unlawful matters on a confidential and anonymous basis.

Tone at the top and dedicated resources

PwC Singapore’s emphasis on the Trust and Quality agenda is backed by a strong “Tone from the Top”, which comes all the way from the PwC Global Network Leadership, to the PwC Singapore Leadership Team, and cascading to the rest of the Firm.

The Firm’s leadership firmly believes in the need to invest in Risk & Quality, put in place the right accountability framework and processes, as well as provide dedicated resources to create a culture that gives high priority to quality. PwC has built up and invested in a comprehensive internal Quality control system to ensure that our work, internal organisation, and procedures are of the highest standards. Being exposed to such rigorous Quality processes and emphasis make our people stand apart from their peers in the marketplace, where they are well-respected and sought after. At the same time, our clients are confident of the incomparable Quality service standard that PwC provides to them.

We have a strong team of Partners and managers in the Risk Management and Independence function as well as a highly respected Technical and Quality Assurance practice. They are supported by a well-qualified team from our Learning & Development Department.

Sustainability practice

Increasingly, there has been more scrutiny on how companies has impacted the environment and the communities in which they operate, with less emphasis on the firm’s financial decisions and performance.

PwC’s Sustainability & Climate Change practice in Singapore provides a holistic set of services to clients for accelerating their sustainability agenda. We support corporations along their sustainability journey; from defining sustainability strategy and reporting in accordance with accepted reporting frameworks to measuring impact and providing assurance. We also assist government and public sector bodies in strategic projects that help develop responses to national and global sustainability challenges.

29

Continuous Improvement

Our drive to maintain quality can also be seen in our commitment to invest in developing our people. Our Partners received an average of 57 hours of technical and professional training a year. Managers and employees were provided an average of 65 and 81 hours of training respectively in the 12 months of FY16.

We recognise that people are our greatest asset and give us a competitive advantage. The PwC Professional is a global leadership framework, being adopted across the Network, which will help to accelerate and enrich employee development and set our PwC brand apart.

Average Training Hours for FY16

Partners 57

Managers 65

Staff 81

acum

en capabili

ties

G

lobal Technic

al

The PwC Professional

acum

en

Rel

ationships

Business

Wholeleadership

Whole LeadershipI lead myself and others to make a difference and deliver results in a responsible,authentic, resilient, inclusive and passionate manner.

Global AcumenI operate and collaborate effectively with a mindset that transcends geographic and cultural boundaries.

RelationshipsI build relationships of high value which are genuine and rooted in trust.

Technical capabilitiesI apply a range of technical capabilities to deliver quality and value for clients and PwC.

Business acumenI bring business knowledge, innovation and insight to create distinctive value for clients and PwC.

To really stand out and make us ready for the future in a constantly changing world, we need to offer more than technical competence. Each and every one in PwC – at all grades and in all lines of service – needs to be an authentic and inclusive leader who inspires others and can lead clients, teams and others through change. We need leadership at all levels.

We believe that it is no longer good enough for an accountant to be just technically capable.

The PwC Professional summarises the skills and capabilities that all of us need to develop and what we need to continue to focus on delivering outstanding PwC Experience to our clients and our people. To support our business strategy and ensure this is embedded in everything we do, we use the PwC Professional framework to recruit, develop and assess our people. It determines who we need to be as we pursue our ambition to become the Distinctive #1 Firm.

30

Influencethroughprofessionalorganisations

Our PwC Partners have been actively participating in various boards of professional bodies to shape the future of our Profession. Through their roles in the various professional bodies, they have been able to support policies such as corporate governance, the Singapore Qualification Programme, and so on.

Yeoh Oon Jin, PwC Singapore Executive Chairman, is the current President of the Singapore Division of CPA Australia, and former Board Member with the Accounting and Corporate Reporting Authority (“ACRA”), Institute of Singapore Chartered Accountants (“ISCA”), and Singapore Institute of Directors (“SID”).

Accounting and Corporate Regulatory Authority (ACRA)

Association of Banks in Singapore

CPA Australia

Insolvency Practitioners Association of Singapore Limited

Institute of Chartered Accountants in England and Wales

Institute of Chartered Accountants of India (Singapore Chapter)

Institute of Singapore Chartered Accountants (ISCA)

Investment Management Association of Singapore

Securities Investors Association of Singapore

Singapore Accountancy Commission

Singapore Institute of Accredited Tax Professionals

Singapore Institute of Directors

Singapore Venture Capital & Private Equity Association (SVCA)

Tax Academy

The Alternative Investment Management Association (Singapore Chapter)

Professional bodies where PwC Partners are involved in to help shape the Trust and Quality Agenda

31

GRI G4 Index Indicators Disclosure Page/Reason for Omission

Strategy and Analysis

G4-1 Message from Executive Chairman Full 5

Organisational Profile

G4-3 Organisation Name Full 7

G4-4 Primary brands, products and services Full 7

G4-5 Headquarters location Full 7

G4-6 Where the organisation operates Full 7

G4-7 Nature of ownership and legal form Full 7

G4-8 Markets served Full 7

G4-9 Scale of organisation Partial As our entities are limited liability partnership and private limited companies, we are not required to disclose our financial statements and this is in line with industry practice due to commercial sensitivity. As our entities are not listed, there is no capitalisation information available.

G4-10 Total number of employees by type Full 6, 21

G4-11 Collective bargaining agreements Full None of our employees are covered by collective bargaining agreements.

G4-12 Supply chain description Full The procurement system is decentralised for specific items and each business unit procures its own required items. PwC Singapore has an underlying Supplier Code of Conduct which guides us in the choice of suppliers that PwC Singapore chooses.

G4-13 Organisational changes during the reporting period

Full There were no significant changes during the reporting period.

G4-14 Precautionary principle Full 5, 27

G4-15 External charters, principles, or other initiatives Full 26, 31

G4-16 Membership associations Full 26, 31

GRI G4 IndexPwC Singapore Corporate Responsibility Report FY16

This CR Report has been prepared “In accordance – Core” of the GRI G4 guidelines, and while our report is not currently assured, we will consider assurance in future editions.

32

GRI G4 Index ndicators Disclosure Page/Reason for Omission

Identified material aspects and boundariesG4-17 Entities included in financial statement – As our entities are limited liability

partnership and private limited companies, we are not required to disclose our financial statements and this is in line with industry practice due to commercial sensitivity.

G4-18 Process for defining report boundaries and content Full 4, 13

G4-19 Material Aspects included in the report Full 13, 14

G4-20 Descriptions of material Aspect boundaries within the organisation Full 14

G4-21 Descriptions of material Aspect boundaries outside the organisation Full 13, 14

G4-22 Restatement Full This is the first Corporate Responsibility report issued by PwC Singapore in accordance with the GRI G4 ‘Core’ option.

G4-23 Changes from previous reports in terms of scope and/or boundaries

Full This is the first Corporate Responsibility report issued by PwC Singapore in accordance with the GRI G4 ‘Core’ option.

Stakeholder EngagementG4-24 Stakeholder Groups Full 13, 14

G4-25 How stakeholders are identified Full 13, 14

G4-26 Approach to stakeholder engagement Full 13, 14

G4-27 Topics raised during stakeholder engagements Full 13, 14

G4-28 Reporting Period Full 4

G4-29 Most recent previous report Full 2014 Annual Report

G4-30 Reporting Cycle Full Annual

G4-31 Report Contact Full 36

G4-32 “In accordance” option, GRI Index and report assurance Full 32 - 34

G4-33 Policy regarding report assurance Full 32 - 34

Governance

G4-34 Governance structure of the organisation Full 8

Ethics and IntergrityG4-56 Code of Conduct Full 27, 28

GRI G4 IndexPwC Singapore Corporate Responsibility Report FY16

33

GRI G4 Index Aspects Page

Specific Standard DisclosureCategory: EconomyG4-EC6 Market Presence: Proportion of senior management

hired from local community22

CATEGORY: EnvironmentalG4-EN16 Emissions: Scope 2 20

G4-EN17 Emissions: Scope 3 20

CATEGORY: Social Sub-category: Labour Practices & Decent WorkG4-LA9 Training & Education: Average hours of training for

employees29, 30

G4-LA10 Training & Education: Programs for skills management and managing career endings

29, 30

G4-LA12 Diversity & Equal Opportunity: Composition of Governance bodies and employees 22

CATEGORY: Social Sub-category: SocietyG4-SO1 Local Communities: Local community engagement,

impact assessments, and development program15 - 19

G4-SO4 Anti-corruption: Communication and training of anti-corruption policies and procedures

27 - 28

GRI G4 IndexPwC Singapore Corporate Responsibility Report FY16

© 2017 PricewaterhouseCoopers. LLP All rights reserved. “PricewaterhouseCoopers” or “PwC” refer to the network of member Firms of PricewaterhouseCoopers International Limited (PwCIL), or, as the context requires, individual member Firms of the PwC network. Each member Firm is a separate legal entity and does not act as agen tof PwCIL or any other member Firm.

www.pwc.com/sg

For questions or comments on this publication, please contact:

Angeline Youangeline.ch.you@sg.pwc.com