Australia Urged to Lead Break-Up of Big Four Amid PwC Leak (1)

Australia should lead the way and break up the Big Four, a former competition commissioner told a parliamentary inquiry into PwC Australia’s tax leak scandal.

A group of Big Four accounting firms and consulting companies— including Delotte Australia, EY Australia, and Accenture— are facing questions from lawmakers during a two-day Senate inquiry launched after revelations that PwC Australia shared confidential tax information with clients it gained while advising the government.

The scandal made it “clear that self-regulation and government oversight don’t work,” Allan Fels, now a professor at the University of Melbourne Law School and Monash University, told the Senate ...