The review's findings and recommendations will be provided in September, which is also when the firm’s former CEO Tom Seymour will retire from the partnership.
Former Telstra and NBN boss to lead an independent review of PwC
PwC has appointed former Telstra and NBN Co boss Ziggy Switkowski to lead an independent review into the firm’s governance, accountability and culture.
In a statement, the firm said Dr Switkowski would head the review to address the issues found by the TPB’s investigation into the firm’s use of confidential tax policy information and would consider all aspects of PwC Australia’s governance, accountability and culture.
“The independent review will look at the way in which decisions are made and overseen within PwC, including how financial goals, values and strategic objectives are balanced and prioritised,” said PwC’s statement.
“It will examine the way in which partners and staff are held accountable for their responsibilities, as well as assess the values and behaviours that exist at all levels within the firm.”
It said Dr Switkowski would begin work on the review immediately and would provide his findings and recommendations in September.
PwC Australia also said its former CEO Tom Seymour – who stepped down from leadership due to the tax leaks but remained a partner – would retire from the partnership on 30 September.
Acting CEO of PwC Australia, Kristin Stubbins said the firm would learn from its errors and would be rigorous in its pursuit to improve.
“We are committed to learning from our mistakes and ensuring that we embrace the high standards of governance, culture and accountability that our people, clients and external stakeholders rightly expect,” said Ms Stubbins.
“Dr Switkowski will have access to all the people and information he needs to conduct a rigorous and robust review.”
“We look forward to receiving his report and acting swiftly on its recommendations.”
The firm said its global legal business solutions leader, Tony O’Malley was appointed as chief risk and ethics leader for PwC Australia, where he would be responsible for all aspects of ethics and compliance at the firm and would help lead the implementation of the independent review’s findings.
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