PwC releases its annual Integrated Report 2020
PwC South Africa published its annual Integrated Report on 30 October 2020 presenting the firm’s financial and non-financial performance, strategy, governance and key achievements for the year. At a time when the world is experiencing an unprecedented crisis, PwC in its 2020 Integrated Report, titled ‘Reimagining our future together’ demonstrates how the firm has endeavoured to manage the threat of the COVID-19 pandemic, support its people and its clients, as well as contribute to society.
Dion Shango CEO for PwC Africa says:
“Our Integrated Report tells the story of this extraordinary year. We start by focusing on the direct impact of the pandemic and how we coped and responded to the crisis including; the remote delivery of work to our clients as they respond and recover; the support we provided to our communities and the wider economy throughout lockdown; our focus on our people’s mental and physical wellbeing; and our renewed efforts to build a culture that prioritises diversity and inclusion. We’re also proud to be contributing to growth initiatives that support the South African government, particularly with COVID-19-related matters.
“PwC’s Integrated Report focuses on how our purpose and values are shaping our vision and strategy for the firm’s future against the backdrop of the COVID-19 pandemic.”
The report covers the period 1 July 2019 to 30 June 2020.
Shirley Machaba CEO for PwC Southern Africa adds:
“Our Integrated Report explores how we build trust in society and solve important problems. Our purpose has never been more important than now.
“Our purpose statement serves as our guiding principle to align the focus of our people and direct the decisions we make and actions we take. It’s reflected in our leadership and governance structures and is consistent throughout our global network.”
In this Integrated Report we look at the complex and unprecedented situation in which our own firm and our clients find themselves. Literally overnight, COVID-19 and the resultant lockdown forced our entire workforce of 9 000 people across Africa (of which over 5 000 work in South Africa) into a remote working environment.
Over the past several years, PwC has invested extensively in technology to modernise and mobilise its global workforce. As a result, the firm’s entire workforce was able to quickly adapt to working remotely and continue to serve its clients and stakeholders with the level of quality that they have come to expect.
COVID-19 has also presented South African organisations with the opportunity to make a real difference in the country. During this time, PwC has provided support to several industries, from public sector to financial services, owner-managed businesses and SMMEs. The firm also supports several government-led initiatives, with time, expertise and other services on a pro bono basis.
While the COVID-19 crisis has dominated this year, it has highlighted the vital importance of high quality audits in times of significant uncertainty.
Further insight into our audit quality efforts can be found in our Transparency Report 2020. The Transparency Report describes PwC’s policies, systems and processes for ensuring audit quality, the results of key quality programmes and reviews, and the way we foster a culture of quality at every level of the firm.
“Through these reports we have an opportunity to be open and frank with all our stakeholders, as we reimagine the future of PwC in the new normal presented by COVID-19,” Machaba concludes.
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