No Match Found
FY23 was a challenging year for PwC Australia. A year which unearthed behaviours we are not proud of and threw into question our governance, culture and accountability practices. A year which made us all stop and take stock.
It was a year defined by the revelation that a number of now former partners had failed in their professional, ethical or leadership responsibilities, with respect to the misuse of confidential Treasury information.
Yet, it will also be remembered as the year significant action was taken, in order to reset.
We are deeply sorry to our people, our clients and the communities we work in. We are sorry for our failings and for the culture that allowed these behaviors to go unchecked for many years. We are committed to taking the actions required to rebuild trust.
In May 2023, we commissioned Dr Ziggy Switkowski AO to conduct an independent review of our governance, culture and accountability. Based on our reflections on the recommendations made in the Independent Review, we have developed five key Commitments to Change and a comprehensive Action Plan that provides a roadmap to becoming the leading professional services firm.
1 Metrics shown on this page are as at 30 June 2023 and do not reflect the divestment of our government advisory business to Allegro Funds which occurred on 8 November 2023. 2 People numbers related to the divestment of our government advisory business are provided in the People chapter. 3 Results from our ‘Global Mojo’ Survey conducted in May FY23. 4 Unless otherwise stated Diverse Cultural Background (DCB) refers to non-European DCB, defined as being from a non-Anglo-Celtic or non-European background. For the purposes of reporting we rely on the self-disclosure of our people. 5 Refer to page 21 for full details of Australian revenue. 6 In FY22 we made record incentive payments as a result of our strong financial performance. The FY23 total annual performance incentive payments to employees is an increase of 31% compared to FY21 total annual performance incentive payments of $36M. 7 To allow a relative comparison with our FY19 base year emissions, figure includes scope 1 and 2 emissions, and scope 3 business travel emissions only.