PwC Australia’s Tax Governance and Compliance

PwC Australia independent review of Tax Governance and Internal Control Framework

PwC Australia commissioned an independent review of the Tax Governance and Internal Control Framework within our Tax business, finalised in July 2024. The review was conducted by Mr Bruce Quigley, former ATO Second Commissioner and Member of the Panel of Expert Advisors at International Monetary Fund, and we thank him for his work. The review followed a similar review conducted by Mr Quigley, finalised in March 2021.

The review considered that the Tax business has the appropriate control framework to address the key elements of operational risk management and there is a robust quality management system in place. Further, PwC Australia has developed an effective control framework which is consistent with the principles and standards contained in the Tax advisory firm governance - best practice principles (further details below). PwC Australia has accepted all recommendations in the review, and will continue to take all steps necessary to ensure our Tax practice maintains its robust governance and internal control framework.

Tax advisory firm governance - best practice principles

PwC Australia is pleased to publish the Australian Tax advisory firm governance - best practice principles. 

These Principles have been developed by PwC Australia, EY Australia, KPMG Australia and Deloitte Australia with input from the Australian Taxation Office and Tax Practitioners Board.

The firms make an important contribution to the operation of the Australian taxation system and work in an existing environment of robust laws, regulations and professional standards. These Principles are being shared to enhance public understanding of our role, further build confidence and trust in the system and to comply with current and future requirements relating to government procurement. PwC has adopted the Principles, which are aligned with and complement PwC’s existing policies, procedures and internal controls. In this regard, PwC will also publish an annual statement as set out in the Principles (refer below).

The Principles complement PwC’s longstanding Global Tax Code of Conduct (updated as of September 2023, refer below) and reflect the expectations the community should have of reputable tax advisers. The Principles are voluntary and other firms may choose to adopt them.

PwC Australia Annual Compliance Statement - 2025

PwC confirms it has confidence that the policies, procedures and internal controls which facilitate compliance with the Principles operated effectively for the financial year ended 30 June 2025.

PwC Australia Compliance Report to the Tax Practitioners Board

PwC Australia is pleased to publish its final Tax Practitioners Board (TPB) Compliance Report for the six months to 31 December 2024. The contents of this report sets out the steps the firm has taken in the relevant period in response to the order by the TPB.

In compliance with the order, PwC was required to provide the TPB with a compliance statement on a 6-monthly basis during the 2023 and 2024 calendar years. The statement must confirm that PwC has complied with its requirements under the TPB order, in addition to other requirements relating to training. 

It is not a requirement under the order that PwC's statements are made public, we are committed to publishing these reports as we continue to enhance the firm's transparency and culture.

Global Tax Code of Conduct

Our Global Tax Code of Conduct sets out the core principles of what we stand for as Tax professionals – what we do, who we act for and how we act – when providing clients with objective and high-quality tax advice. These principles hold us accountable to do the right thing and live by our values and purpose; to build trust in society and solve important problems. It sets out our role as trusted business advisors, our support to a well-functioning tax system, our speak up culture and accountability.