PwC Australia Tax Scandal’s Impact on Firm Governance: Explained

The Australian arm of PricewaterhouseCoopers has pledged to boost its corporate governance controls in response to firm-commissioned reviews faulting its culture for a leak of government tax plans.

The tax leak scandal has shaken the country’s consulting and auditing industry since it became public in January. Here’s a rundown of what’s happened so far and what may come next.

How did we get here?

In 2016, the Australian Taxation Office began a formal investigation into a PwC Australia tax minimization ‘foreign partnership structure’ it had presented to clients.

After facing legal blocks to its investigation and a lack of response ...