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JPMorgan’s racial-equity audit falls short for some shareholders

December 21, 2022

Some JPMorgan Chase shareholders feel a recent progress report on its racial-equity promises lacks clarity and that the audit process to create the report had “several deficiencies.”

SOC Investment Group, which suggested the bank conduct a racial-equity audit in 2020, said it believed JPMorgan and auditor PriceWaterhouseCoopers “approached this process with the narrow perspective of a financial audit” and that the firms “appear to have a basic misunderstanding of what a racial equity audit is and should be.”

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