Scandal engulfing consulting firm PwC has raised serious questions for the government | 7.30
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- เผยแพร่เมื่อ 31 พ.ค. 2024
- The behaviour of one of the ‘big four’ consulting firms has raised serious questions about a system where critical government work is undertaken by commercial companies. Revelations that PwC breached confidentiality agreements to profit the firm and its clients shocked the industry and may have ongoing implications. Lauren Day and Lucy Kent report. Subscribe: ab.co/3yqPOZ5
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"The firm is committed to learning from its mistakes." Translation: PwC is adjusting the boundary of what it thinks it can get away with.
Absolutely
I read that more as "we will try to make it harder for things like this to become public again"
Accounting and not accountability. They'll try not to get caught selling client secrets again.
From experience, that's corporate talk for "We are sorry we got caught".
No wonder the ATO had trouble prosecuting multi-nationals for tax avoidance and all thanks to PWC's legal team.
And NOTHING to do with the Liberal Party intentionally enabling them. No one seems to be talking about that.
@@czarkusa2018 apparently Scott Morrison had recently tried to get a job with PwC. Trying to cash in favours?
@@czarkusa2018 The media is not allowed to hold the LNP to account for their actions, they have to pretend their past actions don't exist while reporting.
@@michaelandrews4783 There's not one report on PwC that contains the word Liberal lol.
@@czarkusa2018 Of course they did, and do! The Libs LIVE for this sort of thing and I'm not sure they see anything at all wrong with it...
Beyond comprehension when 'white collar' goes unpunished and children as young as 10 are getting incarcerated for running a muck and petty theft.
Children charged with petty theft are unlikely to have lawyers who went to school with the judge.
This shows they are very naughty and deserve to be punished.
@@TheDavidlloydjones yes, even the defendant probably went to the same private school.
They say white collar crime isn't violent, but when one desk jockey on 100k a year makes decisions based around millions of dollars moving around resulting in a bunch of blue collar workers toiling for 40k a year blow their heads off or stringing themselves up by the neck because those decisions ended up destroying and permanently bankrupting them... that feels like violence to me, if by proxy...
Running amok.
There must be jail terms and financial penalties for these guys for justice sake!!!
Sadly this is unlikely. In 2017 there was a royal commission inquiry into the financial sector. Laws were broken millions of times but no one even got charged. More recently there was robo debt where it was demonstrated that laws were also broken and people got hurt because of it. Yet no one got so much as charged. Likewise, the people involved in this scandal at best will be asked to retire, not even sacked. Sadly, it seems that we now have a country that refuses to hold anyone to account that holds an office of privilege in either the private or the public sector. There is no justice in Australia. Just a mates club.
Never. What Happens to the money that got gouged out of normal people? Its gone. Lawyers will do well out of this. Media and Incompetent governments who act so shocked by it all will claim Virtue and say things like "we must ensure things like this wont happen again" and again, and again. These things go on happening I mean really. Who is shocked that this kind of thing goes on?
@Mike Willis 'whire collar' crime goes unpunished, while children as young as 10 years old are incarcerated for running a muck or petty theft
Preach. They should be levying billions of dollars of fines on PwC. Sadly, you won't see either. Corporate cronyism IS the law in Australia.
Dam straight. But it won't happen.
This confirms in my mind that governments in Australia, at all three levels, reliance on external consultants instead of using or building in-house expertise is both flawed and a waste of money.
My experience is that consultants only provide advice that is either regurgitated nonsense or tailored to what they think executives want to hear, and is neither quality nor impartial advice.
I have heard of at least one case in NSW where the same consultant company provided to the State government advice that Local Government consolidation was practical and to the local Government association advice that Local Government consolidation was not practical…go figure!
Sadly both parties are complicit in the use of these firms.
They are yet another system which people of use to line their own nests creating little area's that they can then move into once they leave the public sector.
Also it's often a way that they can obfuscate or create false information to drive personal or business interests that again don't suit the public interest as much as their own/family/friends.
Basically there's no reason to bring in PRIVATE 3RD party firms excluding some specific context specialists because we already have fully formed government sectors that can do the vast majority of the work in house.
Exactly, it's government that's the problem and not the Liberal Party and its voters.
@@czarkusa2018 It's people that are the problem. And when you put them in a system that rewards profit above all else, then they will quickly put aside their decency. And PwC clearly demonstrates this. When it comes to cars, sugary drinks, and non essential items, then the profit motive works well. But when ethics matter, only fools would apply such a system.
I've certainly witnessed that from the big 4. I think that the smaller boutique / specialist firms do a far superior job, usually specific to a particular market/sector for a fraction of the price.
@Czar Kusa who has done more to dismantle the public service than the LNP and their anti union agenda spurred on by their mates in big business
5:51 THERE HAS TO BE CONSEQUENCES.
A resignation is not enough. All the staff involved at PWC should be charged and hopefully convicted with Tax Fraud be unable to hold executive or board level positions in Australia again. Australia should coordinate with it’s trading partners to extended the sanctions in their countries too.
Any company that used this information aka “intelligence” from PWC to avoid tax in Australia should be charged as well.
Yeah, I'm sure no one in government was paid...
Do you think they got help from govt🤔
There should be HUGE JAIL TIME
Why do you care?
@@miroslav-mikhayeljuric-de3yp because that means as a salary earner I have to pay more tax, while multi nationals don’t contribute to the maintenance and I building of infrastructure that allows them to make their profits in Australia.
This is just the tip of the iceberg, Government over use of consulting firms STINKS!
Watch absolutely nothing happen to them whilst the Government feigns dissatisfaction.
Corruption, tax avoidance, conflicts of interest are all a business as usual topic for our Government and the Australian Corporate sector.
And I bet you have only felt like this since the last federal election.
This, we’re all watching. We want accountability. But we know the rich and powerful will cover each other. Wrist slap at best, you watch.
We have a different government in now. This and much much more liberal corruption will be uncovered
private companies doing dodgy stuff. Shocking, absolutely shocking. But I am SURE they wont get away with it!!
I know.
I'm shocked.
😉
All will get away with no jail term. Why? All of them will excuse themselves from Australia. And Australian government will never issue a red notice on them.
Yep, no chance they'll get away with this........................
are they just bullshitting when they say they are shocked this has happened? It seems pretty standard to me, a private company doing things to make as much money as possible and assuming they can get away with it. Cause they will.
Consulting firms are executive bonus schemes with extra steps.
The TPB will be the only casuality.
Nicely put
My question is: what about other firms? Thousands of residents are relying on our local council to make a decision that affects us all with information from another “independent” consulting company. If PWC has done this and gotten away with it for over 10 years - that we know of - what is everyone else getting away with? We are already are struggling to trust our council on this issue. What now?
Just ban PWC in Australia for 20 years!
It's not that simple. PwC employs thousands of people in Australia, just "banning" them leaves those people all out of a job.
@@jeremybean-hodges6397 After Andersen was dissolved globally (ENRON), all the employees and clients ended up at EY, PWC, KPMG and Deloitte. It can be that simple.
why should they get off so light?
The fraudsters would only go and consult somewhere else, needs to fine PWC and convict the people involved in the tax fraud.
@@duncandrummond726 and that would just be kicking the can down the road without addressing the problem
Resignations? They need to arrest the executives and ban the company forever.
Punishment for white-collar crime is so lax
PwC and their like are employed by their government to monitor the ATO, they are the ones who write the laws the ATO must adhere to and are there to ensure they are followed.
The ATO is an organization that is transparent and adhere to strict assurance and governance behind every decision. Not PwC, they get free access to any decisions and consult on what influenced those decisions to ensure their stakeholders (international companies) are not being influenced negatively.
Still remember all the politicians grilling some people in the ATO in a public hearing about the ATOs role in the Jobseeker scandals.
They grilled them knowing that the ATO is not allowed to defend itself.
Both the ATO and the politicians know it was groups like PwC and lobbyist from the big companies are the ones that made Job keeper specifically so it can be exploited.
The ATO wasn't allowed to have any say, they were just forced to hold the bag.
I mean come on, I read the specifics of those policies. Why would you write into the law that the employee isn't allowed to know if the company is claiming it on their behalf.
Company can get them nominate and then decide not to claim for them, it's up the the company to pay them and tell them they are being paid. Because its the companies records the ATO is muzzled isn't allowed to discuss it with the employees.
As much as I'm happy the news are finally acknowledging these super dodgy firms..
There currently an ATO whistle blower that leaked information, not personal profit, and that guy is facing jail time.
This PwC guy who leaked privileged information specifically for profit. What did he get? His license to practice as a tax agent was revoked for 1 year.
This is what is going to happen now. PwC will review their practices. They will then provide a document to say they have assessed these practices and addressed the concerns raised.
They will then charge the government for this consultation so it will be paid out of your tax dollars.
PwC will then continue on doing all things dodgy. Nothing will change.
When you have a system built on greed, is it really so surprising that the worst of humanity works its way to the top? Perhaps it's not just time for PWC to review their ethics and culture but for Australia as a whole to reassess just what the private sector is for? At the end of the day the private sector is about profit and nothing else. By default, the only types of people who will be successful in this environment are the worst of us. By choosing to put our nation in the hands of such people suggests that perhaps we are the problem. Perhaps it is time to reconsider what should be in the private sector's hands and what should remain in the hands of the government elected by the people?
Are you hearing yourself? Do you know how incompetent our public servants and politicians are? (Unless of course you are a public servant). At least the private sector is incentivised to compete, perform and deliver quality goods and services.
@@MS-vl3im Rather than making this personal, why not offer a counter argument that demonstrates that PwC are not an example of the inevitable consequence of the profit motive and is such should not be in sensitive government areas. Otherwise, you're just another troll.
@@andrewthomas695 Yes they are a profit-driven company, but this is ultimately an issue of ethics which the government is really lacking. If government is competent enough to handle stuff themselves, why are they outsourcing so many projects?
@@MS-vl3im the simple answer to your last question (perhaps rhetorical?), is that neo-liberal governments are under the misapprehension that they are "saving" money by not having the experts on staff (the bureaucrats, public servants etc) but outsourcing such work to these parasites.
By doing this, we eventually, as you say, drain away all the competent knowledge from within government ministries.
Spot on
What surprises me most is how naive people are who are responsible for governance of Australian tax law. Legislate and bankrupt this company immediately.
They’re just following ministerial instructions…
"I was astounded that a firm of this significance would be involved in something as ... sleazy as this."
Everyone in the United States: First time, huh?
Now if Australia does something like ship the leadership of PwC off into the outback to die horribly, that would be a notable step forward to dealing with widespread corruption.
How are we not talking about jail time here? Financial crimes, especially against the government need to be punished on same level as murder. These greedy people know exactly what they are doing and it's ruining society
I think there should be massive fines for PwC and serious jail time for Collins. If i recall once, you sign the office secrets act you're up serious of jail time, 7 years imprisonment.
KPMG in Dubai just had a $220m judgement against them for poor auditing! That's a lot of money.
Back in the day leaking confidential government data was met with criminal charges and punished accordingly. Sometimes with capital punishment. Will these accountants see a day in prison?
the issue, is not a consultant, or an accountant.
The (legal) system, fosters this behaviour.
The RULES we play by.
no they too busy going after the wiki leaks guys
It only applies to whistleblowers these days.
People need to be put in jail, but they won’t because the wealthy in both parties won’t demand prosecutions of their friends and future employers. Two standards of justice. One for the rich one for joe citizen.
You're making it sound like a bad thing
That's far from the only problem, a bigger one is the belief that personal and corporate greed is 'normal and acceptable'.
You got it! This comes at us all the time and most of us don't even notice it happening. It's one of the biggest problems in our civilisation.
Billionaires should not exist.
It will be just like the bank enquiry. Shocking revelations, a mild slap on the wrist and then business as usual. The ties between government and corporate business just get stronger every year.
So many scandals involving PWC. So many government contracts without tender under LNP.
I really hope Labor will hold them into account, but not holding my breath.
I hope they do too. Come on Albo!
Capitalism is socialism for the rich, so that's perfectly normal.
Great statement. And, because it's "normal", they won't be held to account, just as politicians aren't held to account.
It has been hahappening in the U.S for the same length of time. Most of the big international banks and corporations have unlimited resources to hire all types of professionals, lobbyists, and lawyers to manipulate laws, and tax sheltered businesses. Government should put more funding into hiring more corporate tax auditors for these complex corporate tax laws so these businesses can not get away without paying taxes and business scams.
It’s not even socialism for the rich, it’s just legislated theft.
"The integrity of consulting services." Now there's an oxymoron if I've ever heard one. Anyway, if the US is getting away with it, why not do it down here?
Don't waste the time and resources to investigate - fine them, confiscate their profits as the proceeds of crime and charge anyone named in the existing emails. Send a message and profit.
So no one in Australia knew how these companies work…?! Firms like Accenture, Cognizant, PWC, Deloitte and KPMG do things like this as part of their business model. E.g., the US Government had a multi-million lawsuit going on against Accenture for ages for similar stuff. The reason governments including the Australian Government end up using such consultancy firms is that most Aussies don’t have what it takes to be high quality public servants. Most public services pay highly skilled permanent staff the same as their lowly skilled school leavers. No points for guessing where smart people go to for decent pay. Plus, these consultancy firms bribe high ranking politicians with some pretty cool stuff. I can’t believe this is a surprise to anyone…
'Joe Hockey just worked on tax laws but little did he know his buddy was perfectly informed on how to circumvent them'
L M A O.
This happens every few decades to the big consulting & accounting firms. There are supposed to be "fences" within the firms to segregate information from different clients. Anybody remember Enron?
Further prrof that an impartial, robust and responsible public service is vital.
Every single Australian that voted Lib is a traitor.
John Howard made sure that became an impossible dream.
How are these criminals not in jail serving life sentences!?
This is cooked up by rich capitalists to make money at the public's expense.... This is now standard practice
They are mates
CLASS ACTION:
As a CITIZEN, I would like to join a class action against PWC and any other corporations involved in this scandal, to recoup any loss in tax plus interest and sundries, that would have otherwise been owed to the Government and the peoples of Australia.
Yes, good idea! We have been defrauded! NDA breached.
They also need to look at how it happens in Local Government too, I lost my job due to external consultants carrying out a project to review processes,we were then replaced by the company who carried out the review. You have to question how the checks and balances are carried out on these especially where there is recognition that some of these consultants are growing rapidly in government locations, and doing no better job than those qualified and experienced people who understand government restrictions and have the community at heart they replace, and not company profits.
That certainly occurred at least in one very large federal department
This is all too common
I was a consultant and have seen those kind of aggressive power plays many times over. Winning business is the main KPI. Some consultants work with a conscience and others don't. Sadly the culture is such that the aggressive power players are the most successful and often the least competent.
Criminal behaviour should be dealt with properly… this is stealing under a given privilege of trust
We mere mortals go to jail, these tossers get a different job and time off with pay. Australia has created an us and them mentality with corporate and political bodies having different laws and consequences than the rest of us. The millions wasted on red tape and inquiries is criminal.
That's neo-liberalism folks.
Is anyone really surprised? and will anyone be surprised when this comes to nothing. Corporates are never brought to account in Australia.
This is what the big four do! They set up the tax laws and then advise their corporate clients on how to get around them! Same in the UK. They would know of course!
This is serious unethical behaviour with some elements of criminality, but Peter-John Collins only receives a 2-year ban!!! Considering PWC and its partners made money out of this breach of trust by the senior partner in PWC, the 2-year ban is just a slap on the wrist. It appears there was clear intent by Peter-John Collins as he allegedly shared this confidential tax information with his 53 partners in a scheme of generating more revenue for themselves. While these companies may have benefited from the insider information knowingly or unknowingly this may get all those companies involved (clients of PWC) into trouble with their boards and shareholders. These companies may have used this information to avoid paying more taxes if they have not evaded Australian tax laws as it is not clear in the report.
These are the very same accountants or professionals who teach us about “the agency theory, which posits that those who are tasked with running the organizations should do so in the best interest of the organization and not in their self-interests”. The accountants, at least some of them, do not practice what they preach, unfortunately. Because of alleged agency practices, PWC may suffer reputational damage with the potential fines being imposed on them and loss of future revenue.
This is just the tip of the iceberg when it comes to the influence and lobbying by accounting firms on matters, they are supposed to be neutral on. The whole system must be overhauled as numerous conflicts of interest exist between the regulators and accountants making it prone to breaches like in this reported case. You cannot be a player and a referee in a game. Because accounting as a discipline is not static, the development of accounting should consider these scandals which bring the accounting profession into disrepute. ESG reporting is another area that needs to be thoroughly re-examined if we are serious about the environmental impact of reporting companies to avoid greenwashing practices.
I think the bigger question is why ANYONE thought using a private company was a good idea, more neoliberal rubbish.
Liberal Party.
What's the penalty for breaking a confidentiality agreement, a slap on the wrist? If we don't see imprisonments over this the government has been rendered impotent.
Literally there is nothing shocking about this. The real lie here is that you wanted a company not to work for its bottom line. PWC consults on reducing expenses and maximizing profits. Also arent these policie for tax public?
Wow so crazy almost like when you outsource the public service to private entities it goes badly! Who'd a thunk it!
Oh wow what a surprise the public sector has been undermined and we have consultant companies running the country. I wonder which side of government wanted that?
They never name the Libs. Watch the vid again and they NEVER, NOT ONCE mention The Party.
Government will commission a consultant's report to fix this problem...
Great work. We need to stop the obscene flow of wealth out of Australia.
So... where is the mention of legal action against PWC members?
6:44 Isn’t there some questions about the integrity of the former Telstra CEO?
It's all a show. He'll get some money under the table to give PWC a pass. That's how the world works.
How is this not criminal behaviour, both corporate and personal? Existential consequences for any company involved as this should be the consequences; deregistered in Australia and personal criminal liability. Might smarten these fools up and encourage integrity everywhere.
My surprised face: 😐
Some of the most toxic folks ive ever known worked for these "big 4"
If you meet someone at a party who works for these companies, and is proud of it, back away slowly. Definite Sociopath that would sell their own mother. Or give them a truckload of grief about it.
Gov uses these consultants to get the answers they want....
Why has nobody been charged yet?
Federal, State & Local Government need to cancel contracts with PWC. PWC look after their shareholders and bottom line. Not the intetest of the Public.
So true they cannot stop and review all contacts, the government and senior public servants would come to a screeching halt. Over and excessive outsourcing has to be addressed.😡
You dont have to be too smart to realise that if you hire a company that acts for both sides of the coin that there will always be a huge incentive for a conflict of interest! What are our politicians thinking?
It's like making the Hamburgler head of security in a maccas store.
@@johncrow5552 Nailed it! Scummo off to work as a lobbyist for US arms manufacturers, after signing us up for Billions as part of the UKAUS nuclear sub white elepahnt.
No......nothing to see here!
i truly believe tax avoidance on this scale should be treated as treason against the Commonwealth. rip the guts out of PwC too, reclaim what was rightfully ours out of their assets and holdings
Jail for this criminal behaviour
The previous Government should be accountable 😊
So does the government still use PWC for any future tenders?
My partner works for PWC in another country and is a person of high integrity. She would be shocked at these findings, and deeply disappointed. She is so stressed out from work she hasn't had the time or heart to read up on it, and I haven't had the heart to tell her. What a monumental betrayal of trust. PWC is committed to learning from these mistakes, eh? A 90 year-old company that audits the largest financial institutions in the land should not need any instruction in corporate integrity. Sickening.
Nobody who works at pwc has high integrity. I’d be checking under my bed.
Sorry mate but how do you know your wife isn’t sleeping with someone? PwC have been perceived as a business with high integrity, just like your wife. I’d watch out if I were you.
Your wife's boyfriend agrees.
Lmao bro is catching strays
How does the boot taste friend
why were these public services outsourced to these consultants in the first place? why was public services scrapped in favour of these expensive consultation services
Hopefully they are the first case before NACC.
And if the Government has anything to do with it, we will probably never see that play out in an open forum.
Ban the PWC from future government contracts and prosecute the offenders and use them as an example by throwing the book at them.
I used to really want to work for the Big 4 consultancies after graduating uni. Then I realised how toxic the culture is, how little integrity people who work there have and how consultants are basically Powerpoint jockeys and I'm so glad I never ended up going down that route of nepotism and corruption. I've met consultants in my line of work and they're all rude, condescending and don't really know anything. No one needs consultants and anyone who thinks they do are doing themselves and their employees a disservice because it's basically the same as saying "we're too stupid to figure this out so we're going to pay you - someone who has absolutely *zero idea* about how our business functions - to figure it out for us". No thanks, I don't live in Stupidville.
All consultants do is throw around fluffy buzz words and make fancy Powerpoint presentations with zero underlying substance, it's a complete joke at best. Having the Big 4 supposedly looks good on your resume to people, which goes to show how asleep people are if they think that. Like thinking "Wow that person must be rich they drive a Mercedes". I'd say "Oh you work at Deloitte? You must really enjoy getting told at 5 pm to make up a Powerpoint deck for your manager by 7 am the next morning!" The only reason why consultants drink so much is so they can gossip and talk crap about their coworkers, sounds like a reaaaallly great culture, NOT! We live in a backwards world. Consultants move from business to business, sucking away money and giving very little in return. What's worse is that some of them even jump ship to the businesses that they worked with. The people they worked with liked working with them even though they delivered nothing and only hired them because they liked them. This is how corporate Australia works, it doesn't matter what work you do, it matters how much you are liked. You could be an amazing worker but if people don't like you then bye bye.
I agree. Generally, I don't trust employers and companies. I don't believe in company family cultures. It is all lies. I know a lot of graduates who lied on their CVs to get into Big 4 firms. I am just surprised how dumb they are, not able to detect lies on resumes.
"we're too stupid to figure this out so we're going to pay you" I'm an engineering consultant who has public sector as a major client (sometimes the private sector is my client also). This quote basically sums up why my client pays me to do my job. They usually have no idea, which is why my service exists. To give you an example one of my clients who operates a massive piece of critical infrastructure in Melbourne called up my colleague and asked an operational question about this piece of infrastructure that they could have easily asked their internal staff about who actually operate this asset. Why did they phone up and ask for what ended up being free advice? Because their internal staff who operate the infrastructure didn't know, there were no competent engineers on staff to help them and the person asking the question was a scientist in an unrelated field of expertise who has no idea about the basic science necessary to understand this asset's operation. And because they wanted a third-opinion that wasn't hampered by their own internal red tape by their operations staff who often refuse to cooperate if it means more work and complex work for them.
Did we give our client a solution to their problem? Yes - three possible solutions, all for free. Probably saved them a few million dollars in maintenance fees. We build relationships with our clients because it's a give and take industry. Your response here just appears bitter and unresearched. If consultancies weren't providing value, they wouldn't exist.
@Emilia Wisniewski I agree with your claim, but at the same time, there are scammers out there too self claiming they are professionals.
@@emiliawisniewski3947 you might be an exception to the rule. Doesn’t mean what I said was incorrect. I’ve seen plenty of consultants who have no industry experience advising industry on what to do, often using textbook examples which have no application in the real world.
If you want bad, you should see IT consultants. They should cut to the chase and turn up to the first meeting with a parrot on their shoulder and a peg leg talking about getting paid in pieces of eight!
That is unbelievable....has PWC responded?
_Facepalm._ Helen Keller could have seen this coming. This is the price of outsourcing functions of government that ought to have remained internal to the Australian Public Service. By its very nature, a commercial enterprise _cannot_ provide impartial advice to government, and there will always be concerns about conflicts of interest and confidentiality. Its a shame there is no real recourse against the ministers/cabinets that started this privatisation-outsourcing rot.
I have had the great joy of meeting some ex and current LNP ministers in public in person. I list their many failings to their face along with the well-reseacher evidence to back up my cliams and let them know that their own children will be ashamed of them in coming years. Rightfully calling them ROBODEBT killers always goes down a treat. It's all we have left. Public shaming where and whenever they show their faces in public.
Why isnt the Ethics Committee of the ACA investigating this? And on another note perhaps PWC's ESG score card should be down rated. Wheres the S or the G in this type of alleged behaviour?
F'ing do something Labor!
I don’t know why people are surprised. There were no Chinese wall in investment banks, the same for consultation firms.
And yet all governments continue to outsource millions of dollars of work to consultants - all of them, not just PWC
Outsourcing responsibility for what should be government work at taxpayers expense is now the default model.
Has this been successfully purged? I cant seem to find anything about this aside from about 6 ten minute headline videos
No doubt the double dipping was SOP and those not falling into line would be gone from PwC. All for the benefit of the shareholders which in turn drives up exec bonuses which in turn leads to more demand for profits which in turn is for the benefit of shareholder....of course corruption is inevitable with this model. Unlucky insofar as they were caught.
Unbelievable...
What I find disturbing is people are shocked at PWC's actions as these are the SOP's of such companies.
stop out sourcing government contracts to overseas company's, the directors the board of PWC need to be jailed for fraud against Australian tax payers, 10 years jail minimum
What do you expect? Why would anyone be even remotely surprised?
They are a large corporation, acting as all large (even medium and small) corporations do.. profit first, foremost and above all else. As long as the share holders are happy, the executive get big bonuses.. then everything is an option and able to be used. Greed trumps everything
I'm just surprised it's come to light.
Can we as Australian citizens sue PWC
by watching these TH-cam videos, I'm able to sharpen my skills on lying to the public, tax avoidance, deception, and getting away with white collar crimes
i feel like this story is being supressed
Why is a private company involved in government policy to begin with? That's pure insanity! 🤯🤯🤯🤯🤯
0:08 Mate how do you think the firm got to that size to begin with? By respecting laws and ethics😂?
I cant believe this is happening in pwc australia.
I've worked in tech since 1995. Many clients with large implementation projects employ these large accounting firms to run their IT projects, but inevitably they are not the best implementers so tech companies are brought in. It usually leads to acrimony between PwC and us because the client sees that the tech guys can do it without the accounting firm. The accounting firms are the slickest salesmen on earth - they'll sell ice to Eskimos and the Eskimos will happily hand over baskets of money?! Never understood this mindset of clients when they hire accounting/management consultants for anything other than accounting.
There is one PWC employee Rana Kar who has lots of complaints against him on breaches of ethics, unprofessional and unethical behavior with people and dishonesty. He has recently insulted universities and premium institutes professors. There are reports about him that he got punished in previous jobs in IBM and TCS.
How much has PwC donated to both Labor and LNP over the years. They use consultants so when one their hair brain ideas goes pear-shaped or doesn't get the outcome the Govt says it would've, it can say it wasn't their fault/idea.
And how many pollies and officials hire these forms as consultants to then receive a seat on their board or a senior consultant position when they ‘retire’? HOW MANY?
Heaps!
Disgusting. Nothing but robbers and thieves. But it's ok to steal from citizen worker, right? Disgusting.
I'm not sure I understand exactly what law was broken. PwC consulted on how Australia could raise taxes, and then they consulted with clients on what the new tax law was going to be? Australia was going to publish the new tax laws though right? Or does it work in Australia that you just hand over all your money to the government and hope it's enough? Obviously if they helped write the laws they've got a jump on everyone else, but it's only a matter of time before everyone else has a chance to read the new laws too. And maybe if tax laws were written clearly and didn't have so many loopholes people would just pay the taxes (or more likely avoid the outrageous taxes of some jurisdictions altogether).
Know how CDAs work mate? Strict confientiality Clauses were broken and government privledged infomation was then sold to make more profit. Jesus, do we have to spell it out to you?
And will anyone be held criminally liable . ????
Why are they still operating in Australia on government contracts
Mariana Mazzucato had nice videos on government contracts and consulting!
Inb4 they consult a consulting firm on what to do about the corruption of consulting firms
Outsourcing such services should be discontinued
And you thought it would be any different? They also have a fiduciary duty to their clients.
Is anyone really surprised?
Any time profit is put before the interests and well being of Australians, the people loose.
This should be the alarm which causes the government of Australia to nationalise all public infrastructure and resources, and end all public/private contracts.
How is it possible for a responsible government to work with a consulting firm that is also working for its tax policy targets?!?
My opinion is that a government should build internal competency and experience, with clear NDA to avoid people quitting to give information to big companies (or any), and should be as solid as these companies are.
These executives make out like they are some form of geniuses, but anyone can get the top result when you cheat the system and break the law.
Most of them have serious sociopathic tendencies. Perfect fit for the job.
how is this any different to espionage?
Give me a break, that's their job, to reduce their clients taxes ... How can anyone be surprised by these corporations ?? It's outrageous to suggest, given the extensive evidence of off shore accounts by corporations that this is not a failure of ethics or breach of trust, but an expresion of the core of the business model!!! The only problem is they ( pwc employees) were stupid enough to write this stuff in emails....
Gen X and Y were raised on a diet of CIA propaganda. Most of us save a few are not capable of critical thought and are trained like dogs to be compliant & complicit in corporate scandal, it is what they have been raised to view as legitimate. Half the people I know who can think for themselves didn't get there without also developing PTSD because learning the world you were raised for was never real and everyone responsible for looking after you was lying to you whether they themselves knew it or not is a pretty hard pill to swallow.
Quote: "PWC is committed to learning from these mistakes" New rules on Emailing from now on...
@@RAWSET But it wasn't a mistake, it was a delibeate move on PWC's part, and those involved were handsomely revarded with bonuses no doubt!