PwC tax leaks scandal inquiry to usher in sweeping changes | The Business | ABC News

A scathing Senate report into the big four consultancy giants has called for greater scrutiny and regulation of the firms to ensure taxpayers are getting value from the billions of dollars being spent by governments. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2024-06-1...

The inquiry has made 12 recommendations, including calling on the firm to name and shame all the partners and staff involved in the saga.

Other sweeping changes recommended include slapping restrictions on the way accounting firms operate.

Their partnership structure could be revamped so that they would be subject to greater oversight and be required to pay corporate tax.

These firms would also face tougher hurdles when applying for lucrative government contracts.

But this isn't the end of probes into the industry with a criminal investigation into a former PwC partner still underway and a number of other inquiries that could make further recommendations about the governance and structure of big four firms, including a potential split between auditing and consulting functions.

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