Why it matters: PwC used secret government info to advise clients how to sidestep new tax laws
Ex-PwC tax partner Peter Collins was helping Treasury develop tax laws
Ex-CEO Tom Seymour will depart the firm early at the end of September
The firm has now put nine senior partners on leave
It will also “ringfence” its federal government work
PwC Australia has directed nine partners to go on leave, apologised for “betraying the trust” of the public and vowed to “ringfence” its federal government work, in an attempt to show it is taking decisive action over the tax leaks scandal.
PwC’s chairman Tracey Kennair and governance board risk chairman Paddy Carney would step down from their roles and two independent non-executive directors would, for the first time, be appointed to the board.
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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
Neil Chenoweth is an investigative reporter for The Australian Financial Review. He is based in Sydney and has won multiple Walkley Awards. Connect with Neil on Twitter. Email Neil at nchenoweth@afr.com.au
