PwC Financial News

03.10 / 07:41

UPS CEO PwC Deloitte gossips reports recommendations place KPMG, EY and Deloitte: We already have the PwC reforms in place

PwC Australia’s big four rivals KPMG, EY and Deloitte say they already have superior governance structures in place and do not need to emulate the sweeping reforms at the embattled firm following its tax leaks scandal.

03.10 / 06:03

COST Digital PwC Deloitte performer Deloitte UK partners paid more than $1.9m despite slowdown

London | Partners at the UK arm of Deloitte will earn more than £1 million ($1.9 million) again this year despite a recent slowdown in demand.

03.10 / 06:03

FIVE Man CEO Merit PwC Inside reports PwC appoints new sector leaders, to centrally assess the risk of new work

PwC Australia has installed six new industry leaders via a merit-based appointment process, as its chief executive, Kevin Burrowes, moves to put an end to the previous practice where the CEO had almost complete authority to make key appointments.

03.10 / 06:03

LinkedIn PwC Experts gossips reports recommendations Leak Many reforms following PwC tax leak scandal ‘already mandated in UK’

An expert in the management of professional service firms says many of the recommendations of the governance report into PwC Australia are for practices that are already mandated in the UK for the big four consulting firms.

02.10 / 14:29

UPS Citizens PwC country reports Depositors benefit more than borrowers this rate hike cycle

rate tightening cycle where depositors are benefiting as banks scramble for funds while borrowers felt the pinch due to the linking of rates to repo rate. But banks could face the heat as margins are under pressure.

02.10 / 02:05

UPS Pool PwC Deloitte reports gatherings raid Big 4 raid each other's pools as talent war rages amid unprecedented growth

Big Four has gathered pace with each firm looking to beef up its advisory practice and fill gaps in its services portfolio amid scorching growth. Deloitte recently lured 150 members, including 15 partners, from KPMG to its tax division. After the development, KPMG actively courted 17-18 Deloitte partners along with their teams from the rival's risk and corporate investigation team who had earlier worked with the firm.

02.10 / 00:43

MET CEO PwC information reports PwC paid for tax officer’s Paris trip

PwC paid for senior tax officer Jeremy Hirschhorn to fly to Paris to address the big four firm’s two-day global tax conference for clients and partners – at the height of the tax leaks scandal.

28.09 / 19:03

COST PwC Telstra information gossips Lost Australian No Australian tax revenue lost in PwC leaks scandal: lawyers

Legal inquiries into PwC Australia’s tax leaks scandal have concluded that it did not lead to a “reduction in tax revenues for Australia”.

28.09 / 04:47

UPS Provident PwC track information gossips reports How PwC failed to identify or deal with tax leaks scandal

Legal inquiries ordered by PwC Australia into its tax leaks scandal found a “combination of multiple failings” by individuals and the firm’s governance, culture and accountability systems.

27.09 / 10:37

Provident CEO Action PwC Pride gossips reports letter open An open letter from PwC Australia CEO Kevin Burrowes

The following is a statement by PwC Australia chief executive Kevin Burrowes released in conjunction with the report of Ziggy Switkowski into governance issues at the firm exposed by the tax leaks scandal:

27.09 / 10:37

Provident CEO PwC show information gossips reports How confidential tax information was shared at PwC

At least six former PwC Australia partners including international tax chief Peter Collins were involved in leaking confidential information from Treasury, the Tax Office and the Board of Taxation to colleagues and clients, legal reports prepared for the big four firm have concluded.

27.09 / 05:47

Provident Action PwC Inside information gossips reports International PwC global clears international partners of tax leaks wrongdoing

An investigation by law firm Linklaters has cleared overseas PwC partners of using confidential information related to the tax leaks scandal “for commercial gain”, but disciplined six of the firm’s international operatives for not inquiring about the nature of the data.

27.09 / 02:45

Target CEO PwC Telstra 2020 reports What the report into PwC found about its ‘shadow culture’

The report by former Telstra chief Ziggy Switkowski into the PwC leaks scandal identified a “shadow culture”, which was one consequence of its drive to be the biggest of the big four with the best-paid partners. Here are some key quotes from the report released on Wednesday.

27.09 / 02:45

CEO PwC Telstra gossips reports recommendations ‘Shadow’ culture of profit first blamed for PwC tax leaks scandal

A scathing report into PwC Australia has blamed a “shadow” culture which tolerated bad behaviour in the pursuit of profit “growth at all costs” and lack of governance that “went unexamined and uncorrected for many years” that led to the firm’s tax leaks scandal.

26.09 / 20:19

Provident Microsoft Google PwC information gossips reports PwC tax scandal raises question for global firm

PwC’s global firm knew about the tax leaks scandal unfolding in Australia two years before its local affiliate informed the powerful US regulator that oversees the consulting giant.

26.09 / 14:09

UPS CEO Action PwC Telstra gossips reports PwC hopes outsiders will cure ‘shadow culture’

PwC Australia will add three independent directors to its board and publish audited accounts, a first for the big four, in a bid to cure a “shadow culture” uncovered by Ziggy Switkowski’s report into the tax leaks scandal.

26.09 / 08:45

Action PwC Telstra information gossips reports Ex-PwC partners ‘given no chance to respond’ to tax leaks reports

Former partners interviewed by external lawyers investigating PwC Australia’s tax leaks scandal complain they have not been directly asked to respond to any allegations they might be subject to when the firm releases its response to the scandal on Wednesday.

26.09 / 07:27

UPS Provident PwC Accenture Deloitte show information One in five EY, PwC partners earns more than $1.3m

The top-earning 20 per cent of partners at big four consulting firms EY and PwC took home more than $1.3 million annually, well above the top managing directors at Accenture who earned more than $875,000, the latest, available figures show.

25.09 / 08:29

Target PwC Deloitte Coronavirus pandemic Experts show Big four shed UK staff after pandemic hiring boom

London | When Deloitte cautioned staff earlier this month that it planned to cut about 800 jobs in the UK, it blamed slowing growth and economic uncertainty.

22.09 / 07:57

CEO PwC President love Inside gossips NOT Why the Curnow who may’ve saved Carlton’s AFL season is not Charlie

On the eve of the AFL finals and after 221 games, the majority of which were played during the Carlton Football Club’s bleakest era, Ed Curnow announced his retirement.

22.09 / 02:15

Provident PwC Covenant information RBI proposes changes in wilful defaulter norms

Reserve Bank of India (RBI) has proposed a transparent mechanism for declaring a borrower a wilful defaulter. It's also expanding the definition and is planning to make it harder for such defaulters to secure funding for future ventures. The move follows a Supreme Court decision earlier this year that made it mandatory for lenders to give borrowers a chance to represent themselves before declaring an account as fraudulent. The central bank has also laid down a lengthy system of identification to make it foolproof.

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