Influencer for business and societal issues
1. Nation building engagements
78% of our people believe that PwC drives positive societal change through the work we do every day.
In an increasingly complex world, we help organisations and systems to function, adapt and evolve so they can benefit communities and society. Here are some examples of work we have done to make a difference in our community.
In June 2017, we completed a pro-bono review of governance at Cancer Research Malaysia (CRM), a Malaysian non-profit research organisation. CRM, established as a company limited by guarantee in 2000, has been an audit client since its inception.
Like many Foundations, CRM had been established by Founding Trustees and core donors with a specific mission and activities. Over time, CRM's activities expanded to include translational research and clinical trials. Similarly, their funding model also evolved beyond the initial smaller set of core donors to include public donations.
The Board pro-actively sought a review of governance to put in place appropriate Board oversight practices to continue to support this growth trajectory. This would enable the Board to carry out its duties and ensure that resources are managed in an ethical, effective and transparent manner.
Our Risk and Governance team reviewed the Board structure and composition, and recommended areas of improvement for CRM, specifically:
1. Establishing a Board Charter and formalising the roles of the Scientific Advisory Board (made up of internationally recognized scientists), Nomination Committee and Audit/Finance Committees as Board Committees.
2. Delineating the key matters reserved for the Board, and structuring the processes for selection, induction and evaluation of Board members, individually and collectively.
We are happy to share that the Board adopted our recommendations in its entirety. This has helped CRM in building its foundations for growth and expansion.
“PwC listened to CRM’s needs and recommended a governance model that is workable for a charitable organisation."
The Integrated Common Payment System (ICPS)* is a national project initiated under the National Key Results Areas for Urban Public Transport. Managed by Suruhanjaya Pengangkutan Awam Darat (SPAD), the project aims to integrate the various rail systems in the Klang Valley: Mass Rapid Transit (MRT), KTM Komuter, LRT, Monorail, Park & Ride and buses.
Through ICPS, commuters will enjoy a seamless experience commuting across the different rail lines through integrated fare calculation and multiple payment options such as common prepaid cards and debit cards. The system will also support mobile payment at a later stage.
The ICPS solution is currently in development phase and is expected to be launched in June 2019.
PwC was engaged as a partner to Korea Smart Card Co. Ltd. to provide project management consultant services until December 2017.
We successfully assisted our client in setting up the project management functions for the project and finalised the technical specifications of the system.
This project is expected to greatly improve public experience using rail transportation for more than 600,000 users and increase the usage of public transportation with the added convenience of barrier-free travel between the different rail lines.
Efficient public transport system make cities more sustainable and liveable by easing commute and transportation needs and increasing accessibility. We are proud to have contributed to making this a reality for our city.
* Source: SPAD website
In June 2015, Lembaga Zakat Selangor (LZS)* engaged PwC as internal auditors co-sourcing partners to help them improve several processes of the organisation. This meant looking into how they could distribute and collect Zakat more efficiently, as well as enhancing their IT systems and procurement processes.
We did this by working alongside LZS’s internal audit team. Throughout the two year project, we worked with their team and shared our knowledge with them through ‘fieldwork’. This consisted of interviews and site visits that provided them with access to observe PwC's working practices in real time.
Besides increasing the efficiency of their processes, our goal was also to guide them in creating a stronger governance and internal control environment, for example, putting documentation and controls in place. Many of our recommendations were accepted by LZS’s audit committee members and its Chairman, and has since been implemented by the management team.
In 2017, LZS’s audit committee requested for us to continue working with them for the next two years (until mid-2019).
*Lembaga Zakat Selangor collects, manages and disburses alms according to Islamic laws. They disbursed RM697 million in 2016 and care for 46,500 families. Source: LZS financial statements and Annual report.
2. The Building Trust Awards and Trust Builders Challenge
PwC Malaysia’s Building Trust Awards (BTA) recognises and celebrates companies that are making strides to build trust with their stakeholders. Read more about the Building Trust Awards here.
We continue to build brand awareness through our Building Trust programme; the highlight of 2017 was our second BTA (our inaugural Awards was in 2015).
As a result of our 2017 BTA which included a public poll, Trust Builders Challenge and blogs on trust, we were able to reach more than >2.5million unique viewers in 2017, a 230% increase from our inaugural Awards.
In the lead-up to the BTA in 2019, we had our second Trust Builders Challenge for university students in early 2018. Read on to find out more.
Read more about the Building Trust Awards here.
This is a team competition for undergraduates studying in Malaysian universities or colleges. The competition challenges teams to showcase their critical thinking and business acumen by presenting a solution to rebuild trust in business.
The inaugural Trust Builders Challenge in 2017 had attracted participants from private and public universities across Malaysia. Read all about it.
The Finals of our second Trust Builders Challenge was held on 3 March 2018. This year's Challenge introduced a fresh element - each of the ten finalist teams were paired with two mentors – one from PwC, and one from an industry to give the teams feedback and diverse perspectives. Read the full details.
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