PwC to conduct fair trade audit at BBC
Big Five firm PricewaterhouseCoopers has been appointed by the BBC's Board of Governors to undertake its 'fair trading audit'.
The firm will examine whether the commercial activities of the BBC reflect and support the corporation’s principal public service values and will produce quarterly and annual reports as part of the audit.
In its audit PwC will examine whether the BBC complys with the 1998 Competition Act and EU competition laws as well as a Royal Charter. Under its Fair Trade Commitment, the broadcaster must act in the best interests of licence fee payers and must ensure it does not exploit its position as a publicly funded body to secure any special advantage in commercial markets.
In addition it must engage in commercial activities which are consistent with and support its role as public sector broadcaster, pay fair charges for goods and services and charge fair prices.
Tom Hoehn, partner and head of economics in PwC’s Corporate Value consulting group, said the firm was delighted to be awarded the assignment.
‘[It] reflects our competition and risk management expertise and our experience in the media sector,’ Hoehn said.
The 2000/2001 external audit was undertaken by Ernst & Young which found that the BBC had complied with the requirements of its fair trading commitment during the year.
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