Bad practices at PWC “are not corrected,” says former telecommunications chief
PWC’s scandal-hit Australian division took a “whatever it takes” approach to making money, according to an independent review following a tax leak scandal.
Former telecoms boss Ziggy Switkowski’s report found that an “overly collegial” culture meant staff were reluctant to report bad behaviour, especially by high-performing “rainmakers”.
Poor practices “were not corrected for many years”, while “the CEO was not perceived to be accountable to the board”. Earlier this year, leaked emails revealed he had used information about tax policy changes, obtained confidentially from the Australian government, to win business with corporate clients.
The scandal has already forced the departure of 12 partners, including PwC Australia chief executive Tom Seymour. New boss Kevin Burrowes said yesterday: “We deeply regret and apologize for our failures.”