A parliamentary committee has accused consulting firm PwC of “a calculated breach of trust”.

However, the committee this week refrained from publicly releasing a list of individuals involved in the exchange of emails containing confidential data within the firm.

PwC has faced criticism for several months after it was revealed that a former partner at the firm shared information obtained from confidential Treasury briefings. 

The Treasury sought the firm's input in formulating new laws aimed at combating multinational tax avoidance, which PwC subsequently exploited to benefit its clients.

Last month, a trove of emails was publicly disclosed through a Senate committee, exposing discussions of confidential Treasury information related to the new tax policies. 

The incident prompted a police investigation, running parallel to the parliamentary inquiry.

In an interim report, the committee outlined the publicly known details of the tax leaks and strongly recommended that PwC disclose more information about the individuals involved and their roles.

The report concluded; “It is clear that the desire for personal gain trumped any obligations that PwC had to the Commonwealth of Australia and its citizens. This was a calculated breach of trust by PwC. There is no evidence that PwC colleagues or leaders called out this behaviour for years, up until it became publicly known in 2023”. 

Additionally, the committee discovered that PwC engaged in a concerted effort over several years to conceal its actions. 

However, the committee chose not to release a list of 63 names provided by PwC, citing concerns that some individuals may not have been significantly involved.

“We don't know whether they were active participants in what had occurred or whether they were just on an email list. It wasn't fair for us to be put in that position, and we are pretty cheesed off, to put it lightly, with PwC,” said Senator Richard Colbeck, chair of the committee.

The committee made two recommendations: that PwC fully cooperate with ongoing investigations and publish additional details about the individuals implicated.

The revelations have led to significant backlash against PwC, with some agencies, such as the Reserve Bank, vowing not to enter new contracts with the firm until it demonstrates cultural change.

The repercussions of PwC's conduct are expected to extend beyond Australia, as the released emails indicate involvement from individuals in other jurisdictions.

According to a recent survey by the Australia Institute, 79 per cent of Australians believe PwC does not deserve to receive new government work, with nearly half of the respondents advocating for a permanent ban.

The Australian Federal Police is currently considering whether to press charges related to the disclosure of confidential government information. 

PwC has appointed Dr Ziggy Switkowski to lead an independent review of the firm's governance, accountability, and culture, in addition to hiring a new chief risk and ethics leader, Tony O'Malley.