The final report by the joint parliamentary inquiry into the structural challenges in the audit, assurance and consultancy industry has been tabled with the committee, led by Labor senator Deborah O’Neill, making 40 recommendations that touch all parts of the sector.

The inquiry was established last June after the extent of the PwC tax leaks scandal was revealed and, like an earlier Senate inquiry into consultants, became a proxy inquiry into the matter while also exploring governance failings across the sector.