PwC tax leak scandal has exposed partnerships as regulatory havens
The loopholes that allow large accounting firms that look, act and behave much like corporations without being regulated in the same way should now be closed.
The PwC tax leak scandal has exposed two glaring loopholes in the law where an unincorporated partnership structure is used by large firms.
The first is that the duties of directors and officers under the Corporations Act do not apply, a gap plain from the recent report by former Telstra chief executive Ziggy Switkowski into governance issues at PwC Australia.
