Phoenix-based Allied Waste has been honored by Audit Integrity, an independent corporate research firm based in Los Angeles, as one of the country's 100 most trustworthy companies. The organization recognized Allied for its corporate governance practices and transparency in accounting.
Allied was the only waste services company to appear on Audit Integrity's list. Allied received a rating of 80 out of a possible 100 from Audit. In order to be recognized in the top 100, a company must rank among the top 25 percent of all firms for the previous year as well as in the current quarter before publication.
“We are proud that this independent analysis identified Allied Waste as one of America's Most Trustworthy companies,” says Pete Hathaway, CFO of Allied Waste. “At the end of the day, it is about people and integrity, both which matter greatly to our stakeholders.”
According to its report, Audit Integrity says there is a correlation between integrity and profitability. Companies that demonstrate sound practices and good behavior reportedly experience higher equity growth and lower litigation risk.
Audit Integrity uses its Accounting and Governance Risk (AGR) rating to assess more than 8,500 publicly traded companies in terms of overall risk for potentially fraudulent or misleading activity. It is the result of a quantitative assessment of facts drawn from corporate filings and news. This is the first year Audit Integrity has recognized a top 100, despite the fact that the AGR ratings have been compiled since 2003.