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The Latest Breaking News from PwC

PwC did not disclose any conflicts of interest before winning aged care auditing contract

Consulting firm’s contract to audit the Morrison government’s workforce bonus program remains suspended, department confirms

The Guardian - AU

Wilko administrators set Wednesday deadline for potential bidders

The historic high street chain fell into administration last week, putting the future of its 400 stores and 12,500 workers in jeopardy.

The Independent UK

PwC lost track of number of client privilege claims allegedly used to stymie ATO investigations

Consulting firm couldn’t say how many times its former general counsel was involved in privilege claims made to tax office, Senate inquiry hears

The Guardian - AU

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Wilko stores could be left empty as estate will be tough to re-let, new data suggests

Most of Wilko’s shops are expected to close within weeks, the GMB Union said

Evening Standard

Virgin Galactic: What’s it like to go on a sub-orbital space flight?

Here’s everything you need to know about how sub-orbital spaceflights work, what it feels like to go on one, and what your rights are

Evening Standard

Wilko is the latest shop to be edged out by competition but it doesn't have to mean the end for the budget retailer

By selling pick ‘n’ mix, stationery, garden tools and bird boxes, Wilko has spent the last 90 years transforming from a one-store business into one of the UK’s major budget retail players. It now has around 400 stores, but it has also become the latest high street shop to face…

The Conversation

PwC scandal: Australian Tax Office tried to get federal police to investigate in 2018

Tax office tells Senate committee it did not have the investigative powers to secure enough evidence from consultancy firm, hampering efforts to persuade federal police to investigate

The Guardian - AU

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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

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

9 disastrous rebrands, from WH Smith to Royal Mail

As the retailer moves into a new era, we look back at other marketing fails

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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The Independent UK

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 Guardian - AU

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

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The Guardian - AU

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

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Fortune

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.

The Guardian - AU

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

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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