PwC Australia scandal: Here’s what we know so far

Consulting firm PwC Australia will overhaul its corporate structure and committed to publishing audited financial reports following its admission on Wednesday of misusing confidential government information to get new business. The “big four” firm has been mired in controversy since early 2023, following reports of its staff sharing information about the start date of a new tax law targeting multinational companies.

A 17-page document or “statement of facts” published by the firm revealed a series of previously unreported leaks by unnamed staff from government consultations on topics including the taxation of digital currencies and the “black economy.” News agency Reuters in July revealed one of the clients PwC Australia shared confidential information with was Google. Since then, the PwC scandal has forced out 12 partners, including the chief executive and prompted various actions by public and private sector clients.

The governance review, commissioned by the firm in May, identified poor practices "uncorrected for many years", including a board stacked with longstanding PwC partners and a powerful CEO "not perceived to be accountable to the board". PwC Australia said on Wednesday it would adopt, and in some cases already had, the report's 23 recommendations, which include appointing an external chief risk officer, revamping firm culture, and linking partner pay to ethical behaviour.