PwC Australia's Confidential Tax Scandal

PwC (PricewaterhouseCoopers, hereinafter referred to as PwC) is one of the Big Four accounting firms globally. In Australia, PwC is undoubtedly a top-tier tax consultancy—if not the best, then certainly second to none. Over the years, we at KC Global have had multiple encounters with PwC’s tax partners in Australia, and their breadth and depth of tax knowledge are truly impressive. Even compared to tax partners from other countries within the Big Four, working with them has been a professional and intellectual pleasure. Of course, PwC’s services come with a hefty price tag—consultation fees often exceed AUD 100,000.

However, PwC Australia has recently been embroiled in a massive scandal that has rocked the firm to its core. The fallout includes fines, suspension of licenses, business restructuring, and the resignation of partners and employees. Although the events began in 2013, they only came to public attention in late 2022, with the scandal reaching a breaking point in 2023.

This article draws heavily from PwC Australia’s response to Senator Barbara Pocock’s inquiry on June 2, 2023.