"PwC will name staff involved in tax leak, warns of severe consequences", 26 June 2023

PwC Australia’s acting CEO says the embattled consulting firm will name all those involved in the tax leak scandal and warns of severe consequences as it nears the end of an internal investigation.

“The investigation into the confidentiality matter is to be completed shortly,” Kristin Stubbins told a NSW parliament inquiry on Monday.

“We have been doing a very, very thorough investigation involving help from two external law firms. And so we will expect to announce consequences, you will see that publicly, and they will be severe,” she said in her first public appearance since taking the top job last month.

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“When the investigation is complete, which it will be shortly, we will be naming all those people who did anything wrong and there will be appropriate accountability.”

Stubbins also defended the move announced on Sunday to split off its government business into a separate entity that will be sold to Australian private equity group Allegro Funds for $1.

“This whole transaction is designed to protect a significant number of jobs, 1500 jobs,” she told the public hearing.

She was asked if the split was “an admission that PwC simply can’t conduct government business in an ethical manner” under its current structure.

“No, it is not,” Stubbins replied.

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The independent review of PwC’s conduct in the scandal, headed by former Telstra boss Ziggy Switkowski, is due to be released in September.