Securing our place, shaping our future
As a large organisation operating in an economically and politically volatile environment, the past year has been defined as one of strength, adaptability and continuing resilience, where keeping pace with change has ensured our ongoing relevance and success.
While Marco Amitrano assuming his role as our new Alliance Senior Partner on 1 July was a clear signal of change in our business, his election followed a year where the strength and core services of our multidisciplinary model continued to deliver growth.
Coming as the firm celebrated its 175th anniversary, change is once again helping us shape our future, underpinned by the endurance of our foundational values to build trust and solve important problems.
Key Performance Indicators
£710m taxes borne
£681m taxes borne
satisfaction score
engagement score¹
profit per partner
Our report in detail
Growth in challenging times
The business environment over the past 12 months has been uncertain, with ongoing political and economic volatility continuing to impact the market.
Against this backdrop we performed solidly, although growth was at a slower rate than we had originally planned for.
Our multidisciplinary model means there will be accelerated demand for some of the things we do - for example, helping clients capture information and reporting on sustainability - while other areas/services are less in demand, such as M&A activity.
Our ability to anticipate trends and act quickly and decisively in the interests of our clients, people and communities is key to our success.
In many aspects of what we do, we can often be the first port of call when the largest, most complex and difficult assignments emerge. An example of this was the appointment of our restructuring team as administrators of wilko, one of the biggest high street collapses of recent years.
This required sensitive handling. As does much of the work we are involved with, whether that’s reporting, transaction services or system implementation.
Across the business, demand for our services led to growth of 9%, with strong performances across our Audit, Deals and Tax practices. All of which have benefitted from a clear long-term strategy, with the expansion of non-financial reporting helping our Audit practice and compliance boosting Tax.
Our Consulting business was buoyed by a strong performance in the Middle East.
This combined performance has fuelled our ongoing investments, specifically in our people and the technology we use.
ProsperityInvesting where it matters
UK employer, Social Mobility Employer Index 2023
The single biggest business disruptor remains the rapid acceleration of AI adoption, and we have moved quickly to ensure the firm is at the forefront of this technology. As well as rolling out products from OpenAI and Harvey both internally and externally, we signed a landmark deal making the firm among the largest corporate users of ChatGPT Enterprise and the first reseller of this pioneering tool.
To support this investment we have moved to equip our people with the skills necessary to maximise the impact of these deals, through dedicated learning and adoption programmes.
We’ve also provided a real focus for our people on reinforcing our values and culture. This includes a skills-first framework called the evolved PwC Professional, dedicated talent coaches and neurodiversity training.
It was gratifying therefore to see the firm not only top The Times Top 100 Graduate Employers list last year but also The Social Mobility Foundation's Employer Index.
PeopleOur commitment to a sustainable business
from renewable sources
Bringing diverse perspectives to every area of our business is a cornerstone of an inclusive culture that will help deliver long-term, sustained outcomes to us and our clients.
We have maintained our commitment to sustainable business practices, both in how we operate as a firm and in our work for clients.
This year, we've worked with clients and suppliers to accelerate change by transitioning to renewable energy and adopting more sustainable practices.
Evolving ESG commitments and sustainability regulations are reshaping how we help clients navigate the transition and adapt to a world where progress is measured by more than just profit.
PlanetA focus on our culture and governance
have a Human
Rights Policy
Events, both internally and externally, have put governance front and centre this year. With our purpose - to build trust in society and solve important problems - at the heart of our approach, it remains central to our decision-making processes and our risk appetite. It also informs how we manage our business in the interests of our people, partners and stakeholders.
The Senior Partner election highlighted just how integral our governance structures are to the operation of the firm as well as being core to our culture.
Our culture remains a key source of long-term competitive advantage as it both protects and differentiates us.
GovernanceContact us
