'Severe consequences' for PwC staff involved in tax scandal | The Business | ABC News

PwC is battling to put the damaging tax leaks scandal behind it, with the company's global arm stepping in to steer the future of its Australian business to try to prevent the fallout spreading globally. Acting CEO Kristen Stubbins has apologised publicly for the first time and promised "severe consequences" for those involved. The consultancy firm has also appointed a new CEO, Kevin Burrowes, and confirmed it will sell off its government business to private equity firm Allegro. It comes as Labor senator Deborah O'Neill raises concerns about "phoenixing" and Greens Senator Barbara Pocock calls for a national anti-corruption commission investigation. This is on top of criminal investigation already underway against former PwC partner Peter Collins for allegedly leaking confidential government information designed to help sidestep multinational tax avoidance laws. Former ACCC chairman Allan Fels argue the firm's troubles are far from over and this could be the beginning of a split in the Big Four accounting firms' consulting and auditing functions. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2023-06-2... ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation. For more from ABC News, click here: https://ab.co/2kxYCZY Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1 Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2 Like ABC News on Facebook:   / abcnews.au   Follow ABC News on Instagram:   / abcnews_au   Follow ABC News on Twitter:   / abcnews   Note: In most cases, our captions are auto-generated. #ABCNews #ABCNewsAustralia