PwC’s acting head has apologised for the consulting giant’s betrayal of the trust placed in it and stood down nine staff including senior partners as it works to contain the tax leak scandal.
Acting CEO Kristin Stubbins said there had been a clear lack of respect for confidentiality, the firm did not have adequate governance processes in place, and there was a culture in the firm’s tax business that had allowed inappropriate behaviour.
Prime Minister Anthony Albanese said the country deserved full transparency over the leak, saying what occurred was unacceptable.Jessica Hromas “I want to apologise on behalf of PwC Australia. For sharing confidential government tax policy information and for betraying the trust placed in us,” she said.“Specifically, I apologise to the community; to the Australian government for breaching your confidentiality; to our clients for any questions this may have raised about our integrity and trustworthiness; and, to the 10,000 hard-working, values-driven PwC Australia partners and staff who have been unfairly impacted.
PwC has directed nine partners to go on leave immediately, pending the outcome of an internal investigation into the leaks. The chair of PwC’s governance board and its designated risk committee have also decided to step down from their roles., two executive board members stood down from their leadership positions, and a review of the firm’s governance and culture began earlier this month.Loading
Last week in Senate estimates, Greens senator Barbara Pocock tried to table a list of 36 PwC partners who had knowledge of the leak. Both Pocock and Labor senator Deborah O’Neill questioned how the Finance Department could trust the company to remove all staff involved if the government did not know the names of those partners.
Asked on Monday whether PwC should be banned from any government work, at least for a period of time, Albanese said its behaviour needed to be considered.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘PwC did too little too late’: Kristin Stubbins’ apologyThe acting PwC chief executive apologises over the tax leaks scandal, outlines the three key ways the firm failed and the actions it is now taking. ausbiz'
Read more »
Tax leak scandal puts PwC’s 2026 census hopes in jeopardyPwC’s chances of winning for a second time the contract to run the online 2026 Census is in jeopardy, as procurement rules require agencies to consider the ethical conduct of an organisation. ausbiz
Read more »
Lendlease hits pause on PwC audit dealThe property giant has hit pause on its tender process to pick an auditor, a role PwC was previously widely expected to win.
Read more »
PwC sends nine partners on leave, chairman exitsThe embattled firm will also “ringfence” its federal government advisory business as part of a suite of measures designed to signal it is taking decisive action.
Read more »
PwC orders nine partners to go on leave amid tax scandal falloutUnder-fire accounting and consultancy firm PwC directs nine of its partners to take leave pending the outcome of an internal investigation into the leaking of confidential Australian government tax information.
Read more »