Amazon | Firm to finally conduct racial equity audit after shareholder urging

E-commerce monolith Amazon.com, Inc. has announced in a recent securities filing ahead of its May 25th board meeting that it has appointed a firm to conduct an independent audit into how its policies and procedures impact its nearly US $1m hourly employees.

Former US Attorney-General Loretta Lynch will lead the audit, alongside other members of the law firm she belongs to, Paul, Weiss, Rifkind, Wharton & Garrison.

The move comes after the retail giant was pressured by shareholders to commission an independent review on how its policies, procedures and practices might contribute to racial inequalities – both within the company and in society, as the world’s largest retailer.

The proposed audit is also after the New York State Comptroller (NYSC), Thomas DiNapoli, refiled the initial proposal that garnered 44% of shareholder votes (the highest of any shareholder vote in favour of reviewing racial inequality so far). If Jeff Bezos’ 14% shareholding in the company is disregarded, then the vote would have secured a majority, which the Office of the NYSC calls an “immense success for a first-time proposal.”