“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” — Warren Buffett
In the case of PricewaterhouseCoopers LLP, 83-years of reputation-building took a serious hit when a representative from the firm mixed up the envelopes for best picture on Oscar night.
//You might say, yeah, but the Academy Awards are a celebration of people who create make-believe worlds.
And I would say, why would I entrust someone with my taxes in the privacy of their offices when they can’t get something right when 38 million people are watching?
|The (dis)trust factor
I'm not here to cast stones against PwC. People make mistakes. I get it. But this gives people another reason to distrust the financial services industry.
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