PwC, one of the world’s largest professional services firms, has agreed to stand down any staff who knew about Treasury tax leaks from working on any existing or future government contracts. The Australian Federal Police (AFP) has launched an investigation into the firm’s former head of international tax, Peter-John Collins, who shared confidential information about changes to tax laws with partners, staff and clients that would be impacted by them. The Finance Department has asked suppliers to agree to a clause that would allow contracts to be terminated over poor handling of a breach. The AFP has committed to examining whether it was appropriate for PwC to be conducting an internal audit for police while the firm was simultaneously being investigated over the leak. Home Affairs Minister Clare O’Neil has called PwC’s actions a “grotesque betrayal of trust” and said that a further response was still in the works. As of May 2021, the federal government had committed to $255 million worth of contracts with PwC.
Source: abc.net.au
