PwC Australia Met Most Promised Governance Reforms, Report Says

PricewaterhouseCoopers Australia has largely met promised reforms to its governance and culture following a tax scandal, an independent review which ended well-ahead of schedule found.

The independent report by law firm Webb Henderson published Wednesday found that of 47 promised actions, 46 had been implemented or were well progressed.

One partly completed action was to appoint independent non-executive directors to its governance board, the report said. That was because PwC didn’t allow a majority of independent non-executives on the board without the approval of the firm’s partners, it said. ...