The acting chief executive of PwC has told retiring partners the firm is working to ‘ensure we get our business reputation back on track’. ausbiz auspol
Why it matters: PwC used secret government info to advise clients how to sidestep new tax lawsPwC’s global leadership has now intervened and is doing its own reviewThere are calls for PwC to be banned from government contracts over the scandal
PwC partner Kristin Stubbins, the firm’s acting CEO, emailed an apology to the firm’s retired partners.The email was sent on Monday afternoon to what appears to be a select group of retired partners, at around the same time thatwould retire in September and Dr Switkowski’s review into the firm’s governance, accountability and culture.
showed he had “taken accountability for leading the tax team at the time confidential material was shared. Today I can share that he will be retiring from the partnership on 30 September 2023.” “It’s important you are aware that we have also set up a full response plan which [partner] Nicole Salimbeni is leading with me, and that work streams are under way to ensure we get our business reputation back on track,” she wrote.“We recognise we need to rebuild trust. We’re listening closely to clients and other stakeholders, including the federal government and regulators, and will engage openly and transparently as we move forward.
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