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The Latest Breaking News from PwC

Black Friday spending in UK expected to fall by almost a quarter – research

Accounting firm PwC anticipates shoppers will spend £5.6 billion on deals this year, down from £7.1 billion last year.

The Independent UK

Tax avoidance crackdown en route after PwC scandal

Legislation is set to hit parliament that would give regulators more strength to tackle dodgy tax consultants with bigger punishments after the PwC scandal.

AAP

HP disputed with auditors whether Lynch fraud behind $5bn of Autonomy writedown, filing says

Documents submitted to US court in case over allegations founder duped HP into overpaying for software firm

The Guardian - UK

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Could CPAs telling their stories be the key to attracting Gen Zers to accounting? A PwC vice chair thinks so

”Whether it be sustainability, or AI, the future of what we do is really exciting," Kathryn Kaminsky says.

Fortune

UK spending for Black Friday forecast to fall to £5.6 billion with purse strings tighter this year

A survey by PwC suggests that interest in Black Friday has waned amid cost of living pressures

Evening Standard

Morning Mail: social cohesion hits 16-year low, Russian oligarch asset flight, Braverman hits back at Sunak

Index shows cost of living is placing a strain on Australian togetherness, while our podcast asks how banks are still making big profits despite the pressure

The Guardian - AU

PwC Cyprus moved £1bn for Russian tycoon on day he was put under sanctions

Leaked files raise questions over timing of deal as government of Cyprus reveals ‘ongoing’ criminal investigation

The Guardian - UK

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Firms that donate to political parties twice as likely to win government contracts, analysis finds

Transparency group says donating companies should be banned from government contracts but constitutional expert disagrees

The Guardian - AU

Going all-in on cloud could set your business up for AI success

New study finds ROI for AI tools is higher among businesses that have adopted cloud tools already.

TechRadar

PwC to cut more than 330 jobs in Australia after scandal over misuse of Treasury information

Consultancy giant will close ‘skilled service hub’ in South Australia with more redundancies across national workforce

The Guardian - AU

Westpac axes PwC as embattled firm announces job cuts

Westpac has ended its relationship with external auditor PwC as the under-fire firm continues to face setbacks after a leaking scandal.

AAP

PwC defends plans to cut 600 jobs rather than bosses’ pay

News come months after PwC revealed more than 1,000 UK partners would be paid £906,000 each

The Guardian - UK

PwC spin-off is 'ready to go' after final approval

Foreign Investment Review Board gives PwC sale approval.

The Canberra Times

Powerful US and UK committees lobbied to pressure PwC to release report sought in Australia

Exclusive: Richard Colbeck urged counterparts to seek document used to clear firm’s partners of wrongdoing

The Guardian - AU

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AAP

Accused auditors dodge black mark by resigning: ASIC

A Senate committee has heard auditors accused of committing misdemeanours could escape consequences and scrutiny by resigning.

Newsroom.co.nz

Liquidator could sue reneged Supie investor

Investigations will reveal whether there's legal recourse for defaulting on a $3m commitment. 'Let them sue the investor and get the money,' says corporate lawyer Barry Brown. Jonathan Milne reports.

Newsroom.co.nz

Government grabs more power in Ruapehu liquidation

MBIE has bought up $13m ANZ debt and appointed receivers from Calibre Partners to advance a sale of the ski fields, reports Andrew Bevin.

The Guardian - AU

Australian Catholic church’s insurer launches court bid to cover smaller share of abuse compensation

Scandal-plagued PwC would determine payout rates under scheme proposed by Catholic Church Insurance in effort to avoid insolvency

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AAP

PwC offshoot challenged to prove distance from scandal

The government consultancy offshoot of PwC has been told to prove its distance from the tax advice scandal in order to work on government contracts.

The Guardian - AU

Australia’s life-saving bone marrow registry needs $13m. Why is red tape holding it up?

The money is there to increase the number of donors to help patients with leukaemia and blood cancers but governments won’t agree to release it, MPs say

The Guardian - AU

PwC partner at centre of tax advice scandal banned by Asic for eight years

Financial regulator finds Peter John Collins is ‘not a fit and proper person to provide financial services’

AAP

PwC partner at centre of tax scandal banned by watchdog

Peter-John Collins has been banned by ASIC from providing financial services for eight years following his role in the PwC tax advice scandal.

The Guardian - AU

The office returns: are the days of Australians working from home numbered?

Working remotely during the pandemic disrupted a centuries-old agreement between employers and employees. What now for WFH?

Fortune

AI is top of mind for leaders. Execs discuss the risks

“It's so powerful…it could change the future in a good way or in a bad way,” Mitra Best, partner and technology impact officer at PwC, said during a panel discussion.

The Guardian - UK

More than £2bn of UK foreign climate aid channelled through consultancies since 2010

Findings raise concerns among experts who say climate funding works best when invested directly in local communities

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