The Australian Federal Police began searching the Sydney headquarters of accounting firm PricewaterhouseCoopers (PwC) on Monday as part of its investigation into leaked confidential government tax information.This comes over a year after the Treasury referred the matter to the federal police, which alleged the "unauthorised disclosure of confidential Commonwealth information" by former PwC personnel.
This comes over a year after the Treasury referred the matter to the federal police, which alleged the "unauthorised disclosure of confidential Commonwealth information" by former PwC personnel.CEO Kevin Burrowes said the police are expected to search the headquarters for "several days," adding that the company "introduced significant governance, business and cultural reforms," over the past year and a half.
PwC Australia will remain a questionable company until it lives up to its stated values. Despite having a code of conduct, the firm has chosen to prioritize profit over ethics so strongly that it chose to become a veritable double agent — using its confidential government business to secretly help corporations avoid paying taxes. Without genuine transformation, the company will continue to undermine public trust.
While PwC Australia has received well-deserved criticism over the past year, its recent three-year plan shows a genuine commitment to bettering its corporate culture. Unlike PwC US, the Australian branch is actively working to prioritize clients as they endure economic instability and technological advancements. This plan is a direct response to government audits, which means PwC Australia is working seriously to clean up its scandalous reputation.