PwC governance reform review wound up ahead of schedule
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The news: PwC Australia says independent monitoring of its governance culture reforms has wrapped 10 months ahead of schedule.
The monitor's report found the consulting giant had completed or well progressed almost all the actions it committed to after being caught leaking confidential tax policy information for commercial advantage.
The context: Legal and regulatory advisory Webb Henderson’s initial scope was to independently review PwC’s progress, out to March 2026, on implementing governance, accountability and culture reforms.
The reform actions were based on recommendations made by senior business executive Ziggy Switkowski in an independent review published in September 2023.
Webb Henderson assessed PwC to have completed the design of 46 of 47 actions in its Commitment to Change Action Plan with “implementation complete or well in progress”, according to its review published on Wednesday. The last action is considered partially implemented.
Given the progress made, the advisory firm recommended that its review wrap up early, a decision that itself was reviewed by former chief justice of the Supreme Court of NSW Tom Bathurst.
Alongside the release of the report, PwC announced former Accenture senior managing director and prolific board director Wendy Stops had been appointed as the fourth independent non-executive to its governance board.
The source: PwC media release
