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The Latest Breaking News from PwC

It's time business schools prepared their graduates for potential workplace misconduct

“At PwC, (our purpose) is to build trust in society and solve important problems”, says one recruitment invitation. While another promises: “As one of our grads, you can expect to work on high-impact, meaningful and purpose-led projects”

The Conversation

Blast from the past for Linda Reynolds

Former defence minister Linda Reynolds has recanted her Supreme Court evidence that she was never told Brittany Higgins had disclosed ‘I remember him on top of me’, and the Labor Party memberships of two Melbourne men were renewed for two years after they died.

Crikey

Morning Mail: All eyes on the Matildas, more scrutiny over consultants, anger as centuries-old tree felled in Tasmania

Australians hold their breath ahead of the World Cup semi-final; PwC in new disclosure revelations; PM urged to witness impacts of native logging

The Guardian - AU

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What did you say? Boards tackle corporate jargon

Governments around the world have introduced laws that require plain language in public communications. Directors in the corporate world—still a safe haven for jargon, to say the least—could benefit from similar efforts.

Fortune

PwC did not disclose any conflicts of interest before winning aged care auditing contract

Consulting firm’s contract to audit the Morrison government’s workforce bonus program remains suspended, department confirms

The Guardian - AU

Practice makes perfect in the world of government consultants

Taxpayers ripped off, politicians on the nose, conflicts of interest… Crikey readers take the big four to task but don’t let government off the hook.

Crikey

Wilko administrators set Wednesday deadline for potential bidders

The historic high street chain fell into administration last week, putting the future of its 400 stores and 12,500 workers in jeopardy.

The Independent UK

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PwC lost track of number of client privilege claims allegedly used to stymie ATO investigations

Consulting firm couldn’t say how many times its former general counsel was involved in privilege claims made to tax office, Senate inquiry hears

The Guardian - AU

Wilko stores could be left empty as estate will be tough to re-let, new data suggests

Most of Wilko’s shops are expected to close within weeks, the GMB Union said

Evening Standard

Virgin Galactic: What’s it like to go on a sub-orbital space flight?

Here’s everything you need to know about how sub-orbital spaceflights work, what it feels like to go on one, and what your rights are

Evening Standard

More taxing times for PwC

The PwC board was warned that partner Tom Seymour was potentially compromised by a Tax Office investigation but appointed him CEO anyway, and sexual assault complainants often face outdated myths and stereotypes about how ‘real’ rape victims should act in court.

Crikey

As more light shines on PwC’s $3bn tax practice, it’s clear it shouldn’t audit again

PwC claimed legal professional privilege so often over the past decade it lost count. And it helped it make billions from aggressive tax advice.

Crikey

Wilko is the latest shop to be edged out by competition but it doesn't have to mean the end for the budget retailer

By selling pick ‘n’ mix, stationery, garden tools and bird boxes, Wilko has spent the last 90 years transforming from a one-store business into one of the UK’s major budget retail players. It now has around 400 stores, but it has also become the latest high street shop to face…

The Conversation

PwC scandal: Australian Tax Office tried to get federal police to investigate in 2018

Tax office tells Senate committee it did not have the investigative powers to secure enough evidence from consultancy firm, hampering efforts to persuade federal police to investigate

The Guardian - AU

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Crikey

A cartoon, Anzac day, a diary scheduler: the public service can’t go to the toilet without using consultants

There apparently isn’t an area where our enfeebled public sector won’t turn to consultants.

Crikey

AFP issues humiliating correction after (another) mess

After its concession that it actually hadn’t briefed then minister Peter Dutton about a corrupt businessman, Crikey can think of a few other times the AFP admitted an error (and a few times they probably should have).

Crikey

Will Labor’s crackdown on the big 3.5 go the way of previous re-regulatory moments?

The government has promised a crackdown on audit and consulting firms — but only after consultation. Will that be where it’s all watered down?

The Conversation

Tax advisers who promote exploitation schemes to face $780 million penalty

An extensive federal government crackdown on misconduct will increase maximum penalties for advisers and firms promoting tax exploitation schemes from the present A$7.8 million to more than $780 million.

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The Canberra Times

'Masking' effect over ACT crime rates revealed in review

Despite its recent corporate disgrace, a PwC review has delivered a clear direction to ACT police.

Evening Standard

Student housing in London costs 150% times maximum maintenance loan after huge annual rent hike

Student loans nowhere near cover the cost of renting after a 20 per cent price rise

Crikey

Consultant watch: all hail the big three, but defence is where the cash is

With PwC off the scene in Canberra, other consulting firms continue to mop up plenty of taxpayer dollars from government departments.

Crikey

Inquiry savages Shane Drumgold

ACT chief prosecutor Shane Drumgold is reportedly accused by the Sofronoff inquiry of having ‘knowingly lied’ during the Bruce Lehrmann rape case, and the Finance Department spent $32,000 on an external consultant to get advice on external consultants.

The Guardian - AU

Finance department hires consultant to advise on hiring consultants in move compared to ABC’s Utopia

Exclusive: Department’s $32,000 contract, which comes after PwC tax leak scandal, slammed as ‘laughable scenario’

The Guardian - AU

NSW plans to introduce $5.5m fines for tax leaks following federal PwC scandal

Exclusive: Bill seeks to combat breaches of government information, with maximum penalty of $1.1m for individuals and $5.5m for corporations

Crikey

ATO-PwC arrangement confirms special deals must be dragged into daylight

What else don’t we know about the Australian Tax Office and its interactions with the big four?

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