Partner activities

Accountability

Partners are remunerated based on their level of responsibility, the firm’s performance, and individual performance. Our audit partners are not evaluated or compensated for selling non-audit services to their clients. Partners are evaluated based on their contributions to people, quality and profitable growth. Partner accomplishments are measured based on the partner’s relative performance against established goals. Partners are also held accountable in accordance with our accountability framework — which imposes financial sanctions on partners who do not meet our high standards of quality.

Our distributable profit per partner is calculated on a pre-tax basis and the taxes borne individually by our partners include both income and corporation tax on subsidiary profits.

Admissions

Average age of partners : 47.89
Average tenure of partners: 9.89

Partner development and wellness programmes

During the 2018/2019 financial year a number of partner development programmes were presented in addition to technical skills development and other professional continuous development programmes. These focused on developing partners’ business skills, and were presented by local business schools and specialists as well as internationally through the PwC network.

During the financial year partners spent 7 533 hours on professional and personal development – an average of 26.1 hours per partner for the 2019 financial year.

Sixteen partners took a two-month sabbatical during the financial year.

Investment

The total amount invested in our partners for the financial year is estimated to be R5.4 million. This amount includes only payments to external service providers and not the actual or opportunity costs of using mainly internal resources to deliver technical training.