Network Review Programme: In addition to the a principles-based guidance, it is designed to help above, we would in a normal year conduct a Network PwC people think about dififcult questions, promote Review Programme (NRP) that coordinates and consultation, and encourage them to speak up where facilitates network-wide reviews that are sponsored/ concerns arise. requested by global leadership. However, these reviews involve on-site physical meetings, which The Code also sets out a common set of have not been possible as a result of the COVID-19 expectations, a key element of which is abiding by pandemic. Once it is safe to travel again the NRP will applicable laws and regulations. If any local law or resume. In the absence of the NRP on-site reviews, regulation is more restrictive than the Code, local law there has been an increased focus on the assessment or regulation governs. and analysis of each ifrm’s reporting against the network standards. Each member ifrm agrees to comply with network standards and policies which complement the The way we do business and principles embodied in the Code. Certain sections Codes of Conduct of the Code are reinforced by PwC’s ethics and compliance standards, network risk management PwC member ifrms undertake their business policies and local supplemental policies, which activities within the framework of applicable seek to address local legislation, regulation and professional standards, laws, regulations and risks. We expect the same standard of behaviour internal policies. They also nurture a culture that from those organisations who work with member supports and encourages PwC people to behave ifrms. Third parties are required to regularly conifrm appropriately, with integrity and ethically, especially their compliance with the PwC Third Party Code of when they have to make tough decisions. PwC Conduct or its equivalent. people have ready access to a wide array of support networks within their respective ifrms – both formal In the area of taxation, it is a general principle that and informal – and technical specialists to help them taxpayers have the right to manage their tax affairs reach appropriate solutions. provided they act within the law. Equally they should also be able to access independent advice The PwC Code of Conduct (the ‘Code’) is applicable on their tax position. However, the dynamic and to all partners and staff in the PwC network. It does complex nature of tax laws - both at a national and not provide detailed guidance on every situation international level - is such that it is not always clear where PwC partners and staff might need to answer where lines should be drawn. To help our clients and the question, “what is the right thing to do?” Instead, our people make informed decisions on tax, taking