Audit Transparency Report
1 July 2024 - 30 June 2025
Message from our CEO
Kevin Burrowes
CEO, PwC Australia
In an era of heightened stakeholder expectations, rapid AI‑adoption and a growing focus on sustainable business practices, high‑quality audits have never been more essential. At PwC Australia, we are steadfast in our mission to deliver audits that meet this evolving mandate.
I am incredibly proud of what our firm achieved in FY25. In a period of significant change, growth and reform, we set the foundations for the firm we are becoming, demonstrating the same high standards we expect of our clients. At the same time, we have continued to invest in audit quality, and this report highlights an improvement in almost all of our key audit quality metrics.
We published our inaugural Annual Report, including audited financial statements and a remuneration report. The report outlined the firm’s progress across key financial, cultural and community metrics, and aligned with ASX Corporate Governance Principles, to the extent applicable to a partnership.
We also publicly released the Independent Monitor Webb Henderson’s report on our ongoing progress against our Commitments to Change Action Plan. They found that of the 47 actions we set out to achieve, 46 have now been implemented, or are well progressed against their timelines, and one is partially implemented.
Message from our Assurance Leader
Sue Horlin
Assurance Leader, PwC Australia
As Assurance Leader at PwC Australia, it’s my privilege to introduce our 2025 Audit Transparency Report. This report reflects not only the progress we’ve made in audit quality over the past year, but also the exciting future we are building together—one where people and technology combine to create the next generation of assurance.
Growing our people, going further
Audit quality depends not just on technical expertise, but on the judgement, integrity, and curiosity our teams bring to every engagement.
That’s why we are investing more than ever in their growth—creating future‑focused, tailored programs to sharpen leadership, deepen digital skills, and invest in industry expertise.
As AI tools and intelligent agents increasingly take on routine tasks in our audits, human skills like communication, critical thinking, and decision-making are even more valuable. This informs and drives our future-focused development programs, which grow leadership capability and drive inter-personal connection and learning between team members. In FY25 we were pleased to see both retention and engagement scores continue to increase across Assurance, as well as growing evidence that our critical behaviours of curiosity, challenge and collaboration are experienced by our people in their day-to-day team environment.
