Transparency Report 2025 - Marco Amitrano transcript

Our purpose is to build trust in society and solve important problems, and PwC’s proud to play a leading role in strengthening the UK’s reputation as a trusted and thriving environment for investment and growth. We seek to be the pre-eminent professional services firm, recognised for the quality, integrity, and insight we bring to every single engagement.

Many of the organisations we audit are now operating in a world that’s less predictable and less reliable than it was before. Long-standing assumptions around supply chains, policy timelines, and investment flows have been transformed. Geopolitical instability, economic pressures, technology advancements, and shifting regulation are all contributing to a more volatile and fragile operating environment. Alongside all that, investors and stakeholders are calling for greater clarity and trust in how organisations report on performance, risk, and purpose. High-quality audit and assurance are essential in meeting those expectations.

That’s a responsibility that I feel personally. I began my career as an auditor, and I’m proud that we continue to audit many of the UK’s leading businesses, supporting confidence in markets and helping organisations of all sizes navigate change.

This year, the Financial Reporting Council again recognised the quality of our work. Our improved Audit Quality Review scores reflect the long-term investment we’ve made in audit quality, skills, and technology. We’re pleased with the progress and remain focused on listening, learning, and continuous improvement.

We fully support the ongoing reform of audit and corporate governance, and we welcome the Government’s ongoing commitment to publish draft legislation. A strong and trusted reporting ecosystem is, of course, essential to maintaining the UK’s global competitiveness.

Our ability to deliver consistent quality is underpinned by our culture. That means building teams that provide challenge, take pride in their work, and act with integrity. All behaviours that are central to delivering audit in the public interest.

Looking ahead, we’ll continue to support reform, innovation, and assurance that earns public trust. This Transparency Report outlines the steps we’re taking and the values that guide us.