PwC Australia oversaw a culture that fostered a “whatever it takes” approach and created a chief executive role that was unaccountable to the board,a new report has found.
The former ACCC chair,sport administrator and investment banker spoke dismissively of the sector in his submission into a parliamentary inquiry on consulting.
A desperate gamble to save PwC’s largest business could reshape the entire multi-billion dollar consulting sector.
Ziggy Switkowski’s report,commissioned after the tax leak scandal,is set to drop right around grand final weekend. Talk about taking out the trash.
PwC’s 882 partners are already wearing the financial pain of the tax scandal with average incomes down last year and expected to take a 30 per cent drop this year.
The increased penalties Treasurer Jim Chalmers announced earlier this month could create financial chaos for PwC,KPMG,Deloitte and EY.
An analysis by the Centre for Public Integrity found taxpayers forked out $1.8 billion more than initially expected for big four consultancy contracts awarded over the past decade.
Staff at the biggest firms complain of sexual harassment by untouchable executives and workloads so excessive that some contemplate suicide.
PwC could be facing a hefty legal bill by a former partner who has also flagged defamation action against the firm after being named in a press release.
The Tax Office met PwC’s then chief executive,Carlton Football Club president Luke Sayers,in August 2019 – nearly two years after it suspected a PwC partner of leaking confidential Treasury tax plans.
The maximum penalty for advisers and firms that promote tax exploitation schemes will rise from $7.8 million to more than $780 million.