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About this report

About the firm

Find out about PwC Malaysia through these links:

 

Note: We are unable to report revenue numbers as this information is not publicly shared in Malaysia.

About our people

Our numbers have grown steadily over the past three years, as we broaden and diversify our services in line with client needs and global megatrends. 

 

Overall attrition rate at PwC Malaysia decreased by 2% in the last three years and we have been consistently lower than the industry average of 25.7% (Audit Oversight Board report, 2016).  

Find out about our People, Diversity & Inclusion efforts here. Read about our Leadership Team and their roles here.

Helping to solve important problems

Many of our Partners and Directors serve as board/committee members in various professional bodies and industry organisations. In Malaysia, these include:

  • 30% Club
  • Financial Reporting Foundation
  • Malaysian Accounting Standards Board (MASB)
  • Malaysian Institute of Accountants (MIA)
  • Malaysian Institute of Certified Public Accountants (MICPA)
  • Islamic Finance for Labuan Offshore Financial Services Authority
  • Association of Chartered Certified Accountants, Malaysia (ACCA)
  • CPA Australia
  • Institute of Chartered Accountants in England and Wales (ICAEW)
  • American Malaysian Chamber of Commerce (AMCHAM)
  • Association of Chartered Islamic Finance Professionals in Malaysia
  • International Accounting Standards Board (IASB) Committee on Islamic Finance

Key appointments

  • Executive Chairman, Dato’ Mohammad Faiz Azmi - present or past appointments held: 
    • Chair of Islamic Finance Consultative Group (IFCG), which is part of the International Accounting Standards Board (IASB).
    • Appointed President of the Malaysian Institute of Accountants (MIA) in July 2015. He has previously served as a Council Member of MIA and was also the chair of the MIA Capital Market Advisory Committee. He was also the past Chairman for MASB from 2009 to 2012.
    • Chairs the Asian-Oceanian Standard-Setters Group (AOSSG) on Islamic Finance.
    • Elected to the Debt Management Committee by the Ministry of Finance in May 2019. 
    • Elected to the ICAEW UK Council in June 2019.
    • Chairman of Malaysian Professional Accountancy Center (MYPAC)
  • Managing Partner, Sridharan Nair is an Audit Committee member on the Financial Reporting Foundation starting from 1 October 2019. 
  • People Partner, Pauline Ho is a member of the Steering Committee of 30% Club, Malaysian Chapter, launched in May 2015 to increase the number of women in decision making positions. She is also a member of the Integrated Reporting Steering Committee and Practice Review Committee of the Malaysian Institute of Accountants.
  • Chief Risk Officer, Lee Tuck Heng was appointed Chairman of the Auditing and Assurance Standards Board (AASB) (MIA) in July 2013.
  • Irvin Menezes is Chairman of the ICAEW Members Society, Malaysia. 

Our report covers PwC’s Purpose, where we want to be in 20201 and how we will reach it. 

We have been reporting our Corporate Responsibility activities since 2009 and began reporting against the Global Reporting Initiative (GRI) framework since 2012, in accordance with the GRI Standards: 'Core option'. Starting from 2017, we have used Integrated Reporting <IR> principles to guide our content. 

We have the support of our Sustainability & Climate Change Consulting Team in verifying the report in line with GRI guidelines; as well as our Integrated Reporting team’s advice on <IR>.

This full report and the summary highlights achievements during the firm’s 2018 and 2019 financial year, covering the operations of PricewaterhouseCoopers Malaysia (PwC Malaysia), from 1 July 2017 to 30 June 2019. 

There is no re-statement of information from earlier reports, issued from 2009 to 2017.

It covers the operations for PwC Malaysia across all entities and lines of services outlined here

There was a new entity formed in 2018 ie PricewaterhouseCoopers PLT (LLP0014401-LCA & AF 1146) was registered on 2 January and with effect from that date, PricewaterhouseCoopers (AF1146), a conventional partnership was converted to a limited liability partnership.

This entity was formed due to structural changes within the firm and does not affect overall reporting boundaries. 

 

1 2020 has been a focus for our network. Given the pace of change in the world, we need to focus on the next few years in order to build our longer-term view. As we draw closer we will adapt our focus areas as a business accordingly.

how we engage our stakeholders throughout the year

Our stakeholders are people or organisations who we have worked closely with or who have an interest in our business. We actively engage them to obtain feedback on issues that are of shared interest, from accounting development to corporate governance and talent attraction. We do this through the following channels:

  • Our people through the annual Global People Survey, townhalls and focus groups 
  • Our people who volunteer for our Corporate Responsibility (CR) programmes via email and face-to-face interactions
    throughout the volunteering programme
  • Our clients through client satisfaction surveys 
  • Regulators and professional associations through our participation as board or committee members 
  • Our potential recruits through social media, via their campus advisors and initiatives such as the Trust Builders Challenge
  • Charity partners who benefit from our CR programmes through personal feedback and survey forms at the end of each volunteering programme

Not only does feedback from our stakeholders help determine topics of interest for the report; more importantly, it helps us improve our services and programmes to further add value to our stakeholders.

In 2015, we ran a survey to engage our biggest group of stakeholders, our people, on issues that are important to them. In September 2017, we ran four focus groups with 55 participants across all lines of service and levels. 

We found the qualitative feedback valuable and insightful and will consider engaging our people more consistently. The issues and feedback raised were analysed and validated at our highest governing entity, the Country Management Board team and were used to guide our CR strategy. 

Engaging other stakeholders

Media: We engage the media regularly, providing thought leadership publications that are relevant to the public and points of view on key business topics e.g. economics, audit and tax matters and governance.

Clients: Through our client feedback programme, our clients tell us that we do well in translating insights and technical knowledge into practical advice in helping them work more efficiently. A key area that they think we can do more of is to give an added dimension to the work we do - for example, in the form of sharing best practices, industry insights, out-of-the-box ideas and solutions.

What’s important to our stakeholders

Materiality assessment

We focus our Corporate Responsibility (CR) activities and reporting on the issues of importance to PwC and our stakeholders.

Feedback from regular engagement with our biggest stakeholders, our people, helps us identify the issues that are most significant – or ‘material’ – to PwC.

We use a ‘materiality matrix’ to map the issues that our stakeholders are most concerned about against those that have the biggest impact on our business.

You will read about topics that are significant to our stakeholders and to the business in this report.

We are cognisant that as we continue to engage our other stakeholders, the materiality matrix and reporting content may change.

Results of the survey helped us set directions, plan forward and make plans that would be meaningful and sustainable for our beneficiaries and our people. The strategy was validated with the Country Management Team and then shared with our people.

Please refer to the Corporate responsibility page for the CR strategy, flagship programmes, three-year plan and how they fit into the three CR buckets.

We’ll continue our focus on Education and Capacity Building (helping people build skills to meet their goals) and aim to be more strategic and focused in our efforts.

No. Global Standard Disclosures Links External assurance
102

GRI 102: General Disclosures: Organisational profile

102-1 Name of Organisation.

102-2 Activities, Brands, products and services.

102-3 Location of headquartes.

102-4 Location of operations.

102-5 Ownership and legal form.

102-6 Markets served.

102-7 Scale of organisation.

102-8 Information on employees.

102-9 Supply chain.

102-10 Changes to organisation and supply chain

102-11 Precautionary principle / approach

102-12 External initiatives.

102-13 Membership of associations

About this report, About the firm & About our people  
102

102-14 Strategy: Statement from senior decision maker.

102-15 Key Impacts, risks and opportunities

Foreword, Main page  
102 102-16 Values, principles, standards, and norms of behaviour Leveraging on our foundations  
102 102-18 Governance structure  About this report, Leadership team  
102

102-40 List of stakeholder groups

102-41 Identifying and selecting stakeholders

102-42 Approach to stakeholder engagement

102-43 Key topics and concerns raised and approach to stakeholder engagement

102-44 Key topics and concerns raised

About this report, Stakeholder engagement  
102 102-45 Entities About this report  
102

102-46 Defining report content and topic boundaries.

102-48 Restatement of information

102-49 Changes in reporting

102-50 Reporting period

102-51 Date of most recent report

102-52 Reporting cycle

102-54 Claims of reporting in accordance with the GRI standards

About this report, Reporting structure  
102 102-47  List of material topics About this report, Materiality assessment  
102 102-53 Contact point At the end of every webpage  
102 102-55 GRI content index About this report, GRI content index  
203

GRI 203 – indirect economic impact

203-1. Describe work undertaken to understand indirect economic impacts at the national, regional, or local level.

203-2. Explain whether it conducted a community needs assessment to determine the need for infrastructure and other services, and describe the results of the assessment.

 

Solving business issues and influencing societal agenda

Corporate Responsibility

 

 
305

GRI 305 – Emissions

305-1 Direct (Scope 1) GHG emissions

305-2 Energy indirect (Scope 2) GHG emissions

305-3 Other indirect (Scope 3) GHG emissions

305-5 Reduction of GHG emissions list activities

Corporate Responsibility, Planet

 

 

 

 

 
404  

GRI 404: Training and Education

404-1 Average hours of training per year per employee

404-2 Programs for upgrading employee skills and transition assistance program

404-3 Percentage of employees receiving regular performance and career development reviews

Growth & Development

Enhance flexible resourcing model

Leveraging on our foundation, PwC Professional

 
413

GRI 413: Local Communities 

413-1 Operations with local community engagement, impact assessments, and development programs CR programmes

413-2 Operations with significant actual and potential negative impacts on local communities

Corporate Responsibility  

Contact us

Pauline Ho

Pauline Ho

Chief Strategic Operations Officer, PwC Malaysia

Tel: +(60) 3 2173 0946

Florence Tan

Florence Tan

Corporate Responsibility and Wellbeing Lead, PwC Malaysia

Tel: +60 (3) 2173 0334

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