McKinsey&Co is under criminal investigation in the United States over allegations that the consulting firm played a key role in fuelling America’s opioid epidemic.
PwC announced it is cutting hundreds of staff after Westpac ended a 20-year relationship with the embattled firm that generated more than $70 million in fees over the past two years alone.
The PwC fallout has moved well past the bounds of the original misconduct in which the consulting giant acted as a “double agent”.
More inquiries will uncover further details,but we already know enough to make three broad conclusions about the broken system that is supposed to pursue tax avoidance.
Should public services be delivered by the private sector? Based on the PwC scandal,the answer is a resounding no.
Why is Australia outsourcing so much of its governing to private enterprise? It’s a question voters should be asking their MPs.
If those running the accounting firm believe that undertaking some kind of internal investigation into its culture will provide them with a get-out-of-jail-free card,they are woefully mistaken.
PwC Australia boss Tom Seymour has stepped down from his position as the fallout from the tax leak scandal continues to weigh on the firm.
The big four accounting firm could face criminal prosecution as part of the ATO’s efforts to stamp out illegitimate use of legal privilege in tax matters.
Thousands of staff employed by the auditors in Britain are members of the Chinese Communist Party,documents reveal.