How Pwc News Today

Senator Deborah O’Neill, who helped expose the full extent of the PwC tax leaks scandal, says the industry will continue to be under scrutiny in 2024.

Former competition watchdog Graeme Samuel also said ASIC should resume naming and shaming firms with poor audit quality.

The scandal engulfing the big four accounting firms is following the path of the banking sector’s firestorm. History says sweeping change will come, one way or another. 

The government revealed the biggest crackdown on tax adviser misconduct in history in response to the PwC tax leaks scandal.

The federal government’s plan to crack down on misconduct by tax advisers is ambitious. But it faces a long rocky road, based on the past fraught history.

Tax Commissioner Chris Jordan accused the Tax Practitioners Board of “serious overreach” and pressured the agency to stop investigating 26 tech companies.

The fact that more than one PwC partner was involved in sharing confidential government information with the tax business is contrary to what the firm has been saying.

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Australian shares are poised to drop. Uncertainty flares. Oil tumbles near 5pc. US Treasury yields plunge as Fed policymakers meet.