PwC Australia recommended the firm be broken up to avoid conflicts of interest and address concerns about declining audit quality in 2018, but was blocked by the global executive, its former chief executive Luke Sayers has told an inquiry.
Sayers told a Senate inquiry that the firm’s Australian leadership had launched “Project Kookaburra”, a process aimed at having its consultancy business sold. Management was also concerned about the then ongoing royal commission into financial services, he said.
