I am delighted to provide this Transparency Report which provides key information about our firm as of 30 June 2018.
This is my first year as Territory Senior Partner for the Channel Islands, having assumed the role on 1 January 2018. In this report we share with you how we comply with our professional obligations, continue to deliver value to clients and have an ongoing focus on building public trust through assurance. This supports our stated PwC purpose: “To build trust in society and solve important problems.”
At the heart of our purpose is a high bar of excellence, doing a great job for clients. This is achieved by having a laser focus on quality and continually challenging ourselves to add value. We have found that clients are looking to us to support them in a broader range of challenges than ever before. Disruption is all around our own firm and profession and our clients and local markets are feeling it too. Helping them to navigate complexity, embrace the opportunities presented by the digital age, and remain trusted and relevant in an uncertain world, aligns completely to our purpose. We play a key role enabling clients to operate successfully within various systems – accounting, audit, capital markets, tax, legal and so on. When these systems are challenged, our purpose brings an obligation to take an active role in the conversation with all stakeholders, including policymakers, about how to improve and keep things running smoothly. In many ways we feel our purpose has never been more relevant than it is today.
Our clients ask us for help with a vast array of issues including audits. We call on a diverse breadth of skills across our multi-disciplinary practice. Our people are critical to good governance and culture and we ensure the tone at the top is embedded and reflected across the firm. To marshal and direct our capabilities to greatest effect, we organise our business across three ‘lines of service’:
Provides clients and their various stakeholders – including investors, markets, regulators, employees, customers and wider society – with confidence so they can trust in information, systems and controls, both financial and non-financial.
Helping clients build and implement solutions focused on their strategy, technology, management, operations and deals, to help them do business better and generate more value from transactions or investments.
Helping businesses understand complex tax rules and make informed decisions, while also assisting governments in improving and running tax systems.
PwC Channel Islands needs to continually evolve to remain relevant in society and to our clients. This year I have appointed new leadership within the operational functions of the business - Finance, HC, Strategy and Business Support. These roles were formerly performed by partners and I felt it was crucial for these important pillars of the business to be run by experienced professionals, allowing our partners to spend more time serving clients and working with our teams.
The changing world of work is impacting us too and as the millennials in our business step into management roles, their ideas and influence is changing how we look at the workplace. This year I have pledged to consider all flexible working arrangements to create an environment that is attractive to all staff and particularly parents and carers. I am a strong believer in the enhanced value that diverse teams bring to our clients and our firm must be inclusive and a place where all talent can thrive. I have also introduced a ‘Dress For Your Day’ policy, allowing staff the flexibility to dress up or dress down depending on their particular commitments each day.
The world is changing faster than anyone could have predicted, with dramatic implications for our clients and for us. We are conscious of the need to inspire confidence in this new world. We believe our unique use of technology in executing our audits helps us continually build on our reputation as the world’s leading provider of audit services, to become the leading provider of trust services. Within our own business this year we adopted Salesforce as our new opportunity management system and Workday to manage our people - both of these tools will gradually be adopted by the whole PwC network, we are pleased to have been among the first adopters.
Continually challenging ourselves to be innovative and ‘self-disrupt’ is something I believe strongly in. Our well-publicised progress auditing blockchain for private equity has grabbed global headlines this year. It is the powerful combination of the best people, quality embedded in everything that we do and working with market-leading technologies that will enable us to continue to deliver our vision.
Territory Senior Partner
PwC Channel Islands
© 2017 - 2019 PwC. All rights reserved. PwC refers to the Channel Islands member firm and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.