There was a sense of anticipation as PwC Australia partners tuned into a private meeting at midday on Friday. In the days just gone the tax leaks scandal that has embroiled the firm for a month had been referred to the Australian Federal Police, while the Albanese government had effectively cut it off from winning new work from the Commonwealth. It had been a horror week.

Partners had been encouraged to attend the meeting, hastily scheduled the previous day, and acting chief executive Kristin Stubbins did her best to strike a positive tone. She reassured them the firm continued to have lots of support from clients, blamed complex legal reasons for the firm’s inability to correct what she called inaccurate media stories, and said that PwC would co-operate with the AFP investigation.