An open letter from PwC Australia CEO Kevin Burrowes
The following is a statement by PwC Australia chief executive Kevin Burrowes released in conjunction with the report of Ziggy Switkowski into governance issues at the firm exposed by the tax leaks scandal:
For more than 150 years, PwC Australia has prided itself on the contribution we make to the Australian business sector, our people and our communities.
Yet, in January this year, the outcome of a Tax Practitioners Board (TPB) investigation threw that into question. It revealed behaviour we are not proud of – behaviour which does not meet our values and expectations, and behaviour that betrayed the trust of our stakeholders.
We are deeply sorry for that behaviour and the culture that allowed it to go unchecked for many years.
What is clear is that under past leadership, the TPB matter was never adequately investigated by PwC Australia. We have now done what should have occurred from the beginning.
In May 2023, our new Management Leadership Team engaged external law firms to help PwC investigate what had gone wrong, and we commissioned Dr Ziggy Switkowski, AO, to conduct an independent review of our governance, culture and accountability.
Together, these investigations reveal shortcomings that should not have been possible at a firm like ours. It is clear that we did not meet our own expectations – much less those of our stakeholders – and that there was a failure of leadership, both by individuals and as a firm.
However, by identifying and accepting these failures, we begin to chart our path forward. We have listened, we are learning, and we will change.
In releasing Dr Switkowski’s Independent Review and our Management Response, as well as a Statement of Facts based on our investigation, undertaken with the assistance
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