Transparency Report

The current landscape

The organisations we audit are facing ever increasing uncertainty and disruption, as well as huge amounts of change – in particular, rapid developments in technology, ongoing geopolitical fragmentation, the impact of an ageing population and increased urgency to address climate change. As island communities, the impact of these challenges can be especially marked. But our islands are also central to the solution by providing stability in an unstable world and channelling the capital needed to steer through change and put economies on a sustainable path.

The critical value of audit

We at PwC are determined to play our part in steering through today’s challenges and supporting economic regeneration within our islands and worldwide.

Along with our work in advising businesses, policy-makers and third-sector organisations, audit is a crucial element of this mission. Far from being simply a regulatory exercise, audit can help give investors the confidence they need to sustain investment, fund transformation and create jobs. In turn, society is looking to organisations to provide transparent financial and non-financial reporting that they can trust.

For audits to be effective, we need to instil trust in our business and in the audit services we provide. As both advisors and auditors, we also need to protect and enhance the reputation of our islands for stability, regulation and transparency. Jersey’s commendation in the latest anti-financial crime MONEYVAL evaluation is therefore hugely encouraging.

The capabilities and culture to succeed

In the coming pages, you will see the measures we’ve implemented to provide our audit teams with the right mix of talent, technology, expertise and problem-solving skills needed to build trust and respond to the mounting complexity and disruption facing clients and investors. Underpinning this is a culture that sets high expectations for audit quality and reinforces this with a commitment to continuous improvement, pride in our work and readiness to challenge. These behaviours are embedded into everything we do, from recruitment, training and performance evaluation to partners’ commitment to coaching, guidance and advice.

Growing in a controlled and sustainable way

As demand for our services increases, we need to be able to enhance quality and grow in a controlled and sustainable way.

A critical part of this is how we attract, embed and develop talent. Ours is now an increasingly diverse organisation, bringing fresh experiences and perspectives to our work.

We also recognise the need to develop and nurture talent locally. Key initiatives include our Flying Start pathway – a fast-track, four-year programme designed to open up and accelerate careers in finance by combining academic study with practical, paid experience at PwC. Building on our higher apprenticeships in tax, advisory and assurance, we’ve launched a new digital apprenticeship degree in partnership with Exeter University.

Feel free to get in touch

So, this is a time of exceptional challenge and change for our island communities and the world as a whole. But by building trust and working together, we can not only steer through the disruption ahead, but also seize the opportunities.