Shock revelations by the tiny Tax Practitioners Board offer the government a major reset of how it takes advice on tax policy from the big four accounting firms.
As government outrage deepens over leaks of secret tax policy consultations by PwC personnel, industry figures were describing the scandal as a watershed event for the government which is wrestling with whether it can trust advice from big four firms on whom it relies to help shape new tax laws.
The Tax Practitioners Board went almost entirely unnoticed last November when it deregistered PwC’s former head of international tax, Peter Collins, and sanctioned the firm for its failure to monitor conflicts of interest by partners who shared confidential information with clients.
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Neil Chenoweth was a senior writer for The Australian Financial Review
Edmund Tadros leads our coverage of the professional services sector. He is based in our Sydney newsroom. Connect with Edmund on Twitter. Email Edmund at edmundtadros@afr.com.au
