In the 12 months to 1 July, PwC admitted 31 new partners in financial advisory, 18 in assurance, 18 in consulting and two in firm operations.
The acquisition of PPB also resulted in an additional 21 partners joining the firm in August 2018.
One of the teams with the largest increase in partner admissions was PwC’s Risk Assurance team, with 11 new partners admitted in 2019.
“In a time when trust in business and institutions has reached record lows, our Risk Assurance team helps give business leaders, shareholders and the public confidence that an organisation’s systems and processes — everything from data security to transformation projects — are functioning as they should and can be relied upon,” said PwC managing partner of people, partnership and culture Helen Fazzino.
“It is a critical and growing service in a complex and challenging time for business.”
One of the more notable appointments includes former Inspector-General of Taxation Ali Noroozi, who joined as a partner in its financial advisory business earlier this year.
The inclusion of PPB partners among its new partners will see the gender split in the past 12 months at 35 per cent women and 65 per cent men, with the percentage of partners from a diverse cultural background at 22 per cent.
This falls below the big four firm’s gender target of 40:40:20 for future partner intakes. However, discounting the PPB intake, the gender split becomes 45 per cent women and 55 per cent men, with 25 per cent from a diverse cultural background.
Since introducing the targets, PwC’s partnership has increased from 17 per cent to 28 per cent female, and from 13 per cent to 18 per cent from a diverse cultural background.
The diversity profile of the partnership also continues to shift. Four of the 69 partners admitted work part-time, and two are currently on parental leave, with plans to return part-time.
“The idea of how a ‘typical’ partner works has come a long way in the last few years, influenced by our all roles flex policies, and supported by technology which enables our people to work seamlessly from any location,” Ms Fazzino said.
Jotham Lian is the editor of Accountants Daily, the leading source of breaking news, analysis and insight for Australian accounting professionals.
Before joining the team in 2017, Jotham wrote for a range of national mastheads including the Sydney Morning Herald, and Channel NewsAsia.