The aircon compressor pulley has an electronic clutch in it, is it getting 12v down the wire to engage it. If not, turning the ACC on and off will make no difference to the clutch or pulley. Also if the gas is low then the pressure sensor on the system will prevent the 12v going to the clutch.
So if the clutch is out of adjustment and slipping, it might squeak. Apparently it can be shimmed up to compensate for wear.