The shift of the PwC scandal from the business pages to morning television hasn’t been missed in corporate circles. The question now is: how big will the blast radius be? ausbiz
Some time in mid-2005, a group of former Australian partners of the fallen accounting firm Arthur Andersen gathered together for what they called the “Not Guilty” drinks.the firm’s 2002 obstruction of justice conviction, which was related to allegations that it shredded documents related to its audits of the infamous energy company Enron.
Which brings us to the second parallel: the partnership structure of big accounting firms. The sort of command-and-control model of leadership you find in a public company means decisions are made quickly. Whether the nature of the partnership model is hindering PwC’s handling of its current scandal is hard to tell from the outside.
Opinion in professional services and the corporate sector is divided, although one senior figure in advisory says there’s very early anecdotal evidence of some nervousness among company clients, particularly in areas such as tax and consulting.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PwC should be ‘investigated by AFP’ for tax leakPwC should consider entering into a deferred prosecution agreement with federal authorities to avoid a repeat of the Enron debacle.
Read more »
Doubts over whether federal anti-corruption body could investigate PwC scandalLegal experts say those at the heart of the allegations could escape the Nacc’s scrutiny on a technicality
Read more »
PwC tax leaks: Apple, Google and Microsoft believed to be named in firm emailsThe acting chief executive of PwC has told retiring partners the firm is working to ‘ensure we get our business reputation back on track’. ausbiz auspol
Read more »
PwC in overdrive to reassure retired partners; webinar scheduledWhile former partners are no longer part of the firm, some are part of a retirement plan which is affected by its continuing profitability. ausbiz
Read more »
'Big Bass' unveiled in western Sydney park after $2 million developmentAustralia's club of 'big' items has a new addition. A 25-metre steel-framed bass was revealed to the public following a $2 million development of a local park in Sydney. 9News
Read more »
'Big Bass' unveiled in western Sydney park after $2 million developmentAustralia's new club of 'big' items has a new addition. A 25-metre steel-framed bass was revealed to the public following a $2 million development of Carrawood Park in Carramar, south of Fairfield. 9News
Read more »