PwC Australia will appoint outsiders to its board and publish audited financial statements as part of a governance overhaul to bring the partnership closer to public company standards following a scandal over the leak of confidential tax documents.
PwC Australia will announce plans on Wednesday to apply some Australian Stock Exchange governance principles including appointing two non-executive directors and a non-executive chair to its board, according to excerpts of plans provided by PwC.“From the top down we are committed to rebuilding and re-earning the trust of our stakeholders," chief executive Kevin Burrowes is expected to say.
The changes form part of PwC Australia's response to a months-long independent review into its governance and culture, which will be published in full on Wednesday.CEO Ziggy Switkowski was announced in May by the firm. The terms of reference made public in July excluded historic actions. Investigations by external law firms into the leaks and conduct of PwC employees have also been commissioned, however the firm has not committed to making them public.against those who promote dodgy tax schemes and strengthen regulators in response to the scandal. A separate police investigation is still underway.
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