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The Latest Breaking News from PwC

Accounting watchdog fines PwC over audits of defence firm Babcock

The Big four auditor will pay £5.62 million

Evening Standard

Wednesday briefing: Five key issues facing women – from misogyny to the ‘motherhood penalty’

In today’s newsletter: While the fight for gender parity continues – in the workplace, the home, healthcare and beyond – we survey today’s key stories about women’s issues

The Guardian - UK

A sick child means a £700 hole in our budget: that’s the reality of life as a working parent

The UK’s woeful nursery provision hurts everyone, from parents and children to the wider economy, says writer and editor Lucy Pasha-Robinson

The Guardian - UK

From analysis to the latest developments in health,
read the most diverse news in one place.

Gender pay gap increases as men now earn 14.4% more than women in UK

It will now take more than 50 years to reach gender pay parity

Wales Online

UK women priced out of work by lack of affordable childcare, PwC finds

Pressure builds for childcare help in budget as Britain slips down global league table for women in work

The Guardian - UK

UK gender pay gap widens as childcare costs worsen ‘motherhood penalty’

The nation’s average pay gap widened by 2.4 percentage points to 14.4% in 2021, accountancy giant PwC found in its Women in Work index.

The Independent UK

West Midlands retail closures highest in Britain

But a new report by PwC also says that last year the actual rate of shutdowns in the region was its lowest since 2018.

Birmingham Post

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Leicester, Nottingham and Derby shop closures slowing

Sector partly helped by a bounce-back in businesses such as takeaways, convenience stores, DIY and pet stores

Birmingham Post

Decline in North East retail slows with lowest shop closures for six years

Data from PwC and the Local Data Company a net closure rate of 122 in 2022

Birmingham Post

Lowest rate of store closures since 2014 as post-Covid physical retail recovery picks up

In greater London last year there were 1208 store openings, compared with 1857 closures, which is an improvement on each of the prior two years

Evening Standard

Scotland sees lowest rate of store closures in seven years

Fewer retailers shut up shop here than almost anywhere else in Great Britain last year

Insider UK

China instructs state firms to phase out big four auditors

Firms urged to allow contracts with Deloitte, KPMG, EY and PwC to expire

The Guardian - UK

Exclusive: Free school meals for all primary school pupils in London, says Mayor, in victory for our special investigation

Exclusive: Mayor to announce £130m package after the Evening Standard’s School Hunger Special Investigation

Evening Standard

Free school meals for every primary school pupil in London as Sadiq Khan unveils £130m scheme

Victory for Independent campaign as mayor of London pledges to help poorer families

The Independent UK

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Insider UK

Investigation into PwC audit of collapsed shopping centre group Intu

Accountancy giant says it will cooperate fully with Financial Reporting Council

Birmingham Post

Investigation launched into PwC audit of failed shopping centre group Intu

A probe has been launched into the accounting giant's auditing of Intu accounts for the years 2017 and 2018

Crikey

Rocking those boats

We’re still ‘stopping the boats’ with even stronger border patrols after ditching temporary protection visas, and Queensland Premier Annastacia Palaszczuk has vowed to establish a treaty with First Nations peoples.

ABC News

ATO says millions in annual tax could have been lost due to PwC confidentiality breaches

Overseas clients of consulting firm PricewaterhouseCoopers stood to benefit financially after a man privy to Treasury consultations shared confidential meeting details.

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Radio France Internationale

European court recognises French whistleblower behind LuxLeaks case

A French accountant who helped reveal tax breaks for multinational companies in Luxembourg in a scandal known as "LuxLeaks" has won the right to be recognised as a whistleblower at Europe's top rights court.

Reuters

European court rules in favour of whistleblower in Luxembourg leaks case

The European Court of Human Rights on Tuesday ruled in favour of a former employee of accounting firm PwC, saying his 2016 conviction for leaking data about Luxembourg's tax deals with large corporations violated his right to freedom of expression.

AAP

Government seeks to lift standard of tax professionals

The Albanese government is planning to introduce laws aimed at improving trust in tax professionals and dealing with misconduct.

Crikey

Big four consultancies, which get $1.5b in government contracts, donated $850k to Labor and Libs last year

The figures raise concerns about the big four continuing to land lucrative contracts despite limited evidence of their work’s actual value.

Fortune

The CEO contradiction: Corporate leaders are afraid of a recession but nearly 70% plan to hire more people this year

While most CEOs are preparing for a recession, they’re also hoarding talent. “Employees may be able to breathe a sigh of relief,” says Dana Peterson, the Conference Board’s chief economist.

Liverpool Echo

'What we’re seeing' - FSG handed potential boost in Liverpool investment search

A PwC report has revealed that institutional investment is set to continue as Liverpool get future revenue hope

ABC News

Taxpayer-funded review that found 'flaws' in Robodebt scheme was discontinued by Department of Human Services, royal commission told

In a deal worth almost $1 million, the Department of Human Services engaged a consultancy firm PricewaterhouseCoopers to review the budget savings program, but then declined to see the end result.

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