PwC heads set to appear
Kevin Burrowes, the CEO of PwC Australia, is set to take the hot seat at a Senate inquiry into consulting.
His appearance will mark the first time a representative from the firm has testified at the federal level since its damning tax leaks scandal erupted in May.
Burrowes, in a Friday morning email to all staff, allegedly said his appearance is a crucial step in the firm's mission to “re-earn the trust of our people, clients, and stakeholders”.
Joining him will be Catherine Walsh, the firm's head of people, and Jan McCahey, its chief risk and ethics leader.
As for other participants in the ongoing public hearing, the committee has yet to release names.
Burrowes has reportedly expressed eagerness to share PwC Australia's insights on the issues before the committee.
“We are not proud of the findings from the Tax Practitioners Board investigation into PwC, which revealed behaviour which does not meet our values and expectations, and behaviour that betrayed the trust of our stakeholders. We are sorry, and we know we need to re-earn trust,” he said, according to the AFR.
The roots of the controversy trace back to 2013 when former international tax partner Peter Collins shared confidential tax information with PwC personnel, who used it to help clients navigate around Multinational Anti Avoidance Laws that Collins himself was assisting Treasury in developing.
A subsequent report on governance within the firm uncovered a “shadow” culture that tolerated unethical conduct in pursuit of profit “at all costs”, while also highlighting a lack of governance that went unexamined and uncorrected for years.
Burrowes stressed that the Senate appearance is just one step for the firm as it strives to enhance its culture and governance while rebuilding trust.
“We recognise that ultimately, we will be judged not by our words, but by our actions. From the top down, we are determined to rebuild and re-earn the trust of our stakeholders – step-by-step – every day,” he said.