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The Latest Breaking News from PwC

Tax advisers who promote exploitation schemes to face $780 million penalty

An extensive federal government crackdown on misconduct will increase maximum penalties for advisers and firms promoting tax exploitation schemes from the present A$7.8 million to more than $780 million.

The Conversation

'Masking' effect over ACT crime rates revealed in review

Despite its recent corporate disgrace, a PwC review has delivered a clear direction to ACT police.

The Canberra Times

Student housing in London costs 150% times maximum maintenance loan after huge annual rent hike

Student loans nowhere near cover the cost of renting after a 20 per cent price rise

Evening Standard

From analysis to the latest developments in health,
read the most diverse news in one place.

Finance department hires consultant to advise on hiring consultants in move compared to ABC’s Utopia

Exclusive: Department’s $32,000 contract, which comes after PwC tax leak scandal, slammed as ‘laughable scenario’

The Guardian - AU

NSW plans to introduce $5.5m fines for tax leaks following federal PwC scandal

Exclusive: Bill seeks to combat breaches of government information, with maximum penalty of $1.1m for individuals and $5.5m for corporations

The Guardian - AU

As Twitter becomes X - Seven disastrous rebrands from Royal Mail to New Coke

Twitter’s new logo sparked comparisons to branding for a ‘ridiculous fragile masculinity subscription box service’ from 2019

The Independent UK

University of Sydney urged to ‘come clean’ on payment to company it part-owns with PwC

Greens say the university’s payment to Innowell is a ‘scandal’ and shows the need for an overhaul of uni governance

The Guardian - AU

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Company insolvencies in England and Wales jump to 14-year high

Insolvency Service data revealed that there were 6,342 company insolvencies over the three months to June 2023.

The Independent UK

University of Sydney paid company it part-owns for mental health app and used students’ data for research

Exclusive: University of Sydney is a major shareholder in Innowell Pty Ltd, which developed the app

The Guardian - AU

NSW Greens call for more transparency over settlement between PwC and ATO

Claim was not related to scandal involving misuse of confidential government tax plans, ATO says

The Guardian - AU

Morning Mail: supermarkets’ ‘cosy’ duopoly, Kevin Spacey cleared, Sinéad O’Connor dies

Exclusive shows Coles and Woolworths have fattened profits compared with UK peers, music world mourns Irish singer, and Kevin Spacey cleared

The Guardian - AU

NSW police taskforce to investigate spate of shootings – as it happened

Follow live news updates today

The Guardian - AU

22 years after the $63 billion Enron collapse, a key audit review board finds the industry in a 'completely unacceptable' state

In 2001, the Big Five became the Big Four, and now the PCAOB again finds "audit quality is moving in the wrong direction"—a 40% error rate.

Fortune

PwC promoted firm it part-owned in ‘independent’ mental health report for Australian government

Exclusive: Report referenced key findings from trials by Innowell, in which PwC had a 45% shareholding

The Guardian - AU

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The Guardian - AU

PwC tax leak made it harder for Australian firms to win government IT contracts, Senate hears

Vault Cloud CEO tells inquiry whole-of-government tech contracts rigged in favour of multinationals

The Guardian - AU

PwC scandal: PwC Australia reached confidential settlement with ATO months before tax scandal fallout revealed

Embattled consultancy would not divulge details of deal, which was struck two months before the federal government referred the matter to the AFP

The Guardian - AU

Turnbull government’s $33m grant went to company part-owned by mental health commissioner after lobbying

Exclusive: Funding to Innowell in 2017 without competitive tender was for mental health app and followed months of lobbying by Prof Ian Hickie. There is no suggestion of wrongdoing by Hickie

The Guardian - AU

Essential poll: sizeable support for Daniel Andrews’ decision to scrap Commonwealth Games

Almost 60% of people support players receiving equal pay in the Women’s World Cup

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TechRadar

Data stolen in MOVEit breach leaked by notorious ransomware gang

Russian ransomware group Clop is estimated to make up to $100 million from its MOVEit campaign.

The Conversation

It's not just tax. How PwC, KPMG and other consultants risk influencing public health too

Concerns about the use of private consultancy firms advising government – such as PwC, KPMG, Deloitte and EY – has led to a Senate inquiry.

The Conversation

My 3-point plan to untangle the public service from consultants such as PwC

This week the Albanese government produced a detailed breakdown of the A$3 billion it plans to save over four years by cutting the use of outsourced labour and consultants.

AAP

PwC partner wins injunction over retirement move

A partner of PwC is taking the embattled consultancy giant to court over his forced retirement after an investigation into misuse of confidential information.

The Guardian - AU

PwC-backed mental health platform was scrapped after $33m government trial launched without open tender

Experts call for transparency over grant awarded to Innowell, whose platform is no longer used by the federal health department

The Guardian - AU

Daniel Andrews’ $7bn Commonwealth Games price tag doesn’t add up, expert says

Grattan Institute analyst says ‘the supply and cost inflation can’t fully account for this massive increase in costs’

The Guardian - AU

Afternoon Update: Albanese talks tough on voice; Big W removes sex book after staff abused; and new development in Tupac’s murder

Prime minister says it is ‘dumb’ to expect change without Indigenous voice

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