Consulting firm PwC remains a pariah as the tax leak scandal continues to bite.
“I’m extremely proud of the contribution every individual at PwC Australia makes to this firm and their ongoing commitment to producing exceptional results for our clients.”
The outlook appears grim and not just for the tax business, which was the source of PwC’s woes. There are clear signs that the audit and assurance business – the original core business of the big four firms and the unit that PwC is counting on to lift it out of the mire – is also suffering. Developer Lendlease is still keeping quiet on its audit plans. PwC was meant to replace KPMG last year on audit work.of its audit services last year to see if it should end its 30-year relationship with PwC. Macquarie paid PwC more than $79 million in fees last year.
PwC’s reputation is far from that, and it will suffer further this year at the hands of the incredibly influential Canberra politicians who helped bring the malfeasance by those partners to light. Labor senator Deborah O’Neill says the Linklaters report exonerating PwC International partners is at odds with recent information from local regulators.Burrowes, who was parachuted in as CEO of PwC Australia by the global group, told a Senate hearing last month that the group had declined to give him access to the full report.
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