PwC Australia is selling off its government consulting arm to an investor for a symbolic A$1 amid a damaging scandal. The sale marks a humbling end to a business that has billed hundreds of millions of dollars in government contracts in recent years. But with federal government agencies, two state governments, and some of the country’s largest pension funds calling into question or banning new contracts with the firm, it decided to take a radical step to stanch the bleeding.
How did it get to this point?
News broke in January that PricewaterhouseCoopers’s international tax chief, Peter-John Collins, had been ...
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