“The rules did not apply” to star performers at PwC’s Australian arm, according to a damning report into the culture at the scandal hit business.
PwC Australia has been at the centre of a tax leaks scandal, with senior staff given privileged access to government policy making only to use that information in work with clients.
That triggered a review by Linklaters, published this morning, which criticised a matey, “overly collegial” atmosphere at the Australian branch of the firm but “found no evidence that any PwC personnel outside of Australia used confidential information from PwC Australia for commercial gain.”
The report concluded that “some rainmakers were described as the ‘untouchables’ or individuals to whom ‘the rules don’t always apply’,” per those who have seen the report.
Former CEO of Telstra Dr Ziggy Switkowski, who pennd the review, said poor corporate governance went unchecked for years and former – now ousted – boss Tom Seymour was not perceived to be accountable to the board.
The situation that arose in PwC Australia is a reminder to the PwC Network that maintaining a culture of quality and integrity is a continuous process that requires focus, effort and dedication. There are always lessons to be learned and things that we can do to improve as a Network.”Bob Moritz, PwC Global Chair.
The Aussie wing of the firm has been run by Brit Kevin Burrowes since the summer, after the firm’s global business took over the running of operations down under.
Non-execs will be appointed to the board of the firm, too, including the appointment of a chair.