Funny how only "some" can say what they like, while others have to be careful and circumspect with what they say. ?There are some implications there but I'd better not say more in case some become offended.
Geez, if ya can't get a job with crooks like PWC, what hope has the bloke got of supplementing his meagre parliamentary pension with some lucrative private consulting work.
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KPMG has sent an urgent email to all staff in the light of the tax leak scandal engulfing rival big four firm PricewaterhouseCoopers describing how serious the matter is that could see PwC lose millions in government fees and face criminal investigations.
On Wednesday, Treasury confirmed it had referred the incident, in which PwC used information garnered from the government to advise it on developing international tax avoidance laws; and then use that very same confidential information to help global clients avoid tax.
“There has been significant exposure on this across the past few weeks,” wrote chief executive Andrew Yates and Alison Kitchen, Australian chairman, in their letter to staff.
“This latest news is an important development: we can no longer sit by and watch our profession be tarnished by the unethical actions of a few. The decision by Treasury underlines the gravity of the matter.”
Treasury referred the leaking of confidential tax briefings by PwC and its former head of international tax Peter Collins to the Australian Federal Police on Wednesday, as public scrutiny of the leaks in parliament heated up.
In a statement, Treasury secretary Steven Kennedy said Mr Collins “improperly used confidential Commonwealth information”, with emails tabled in parliament by the Tax Practitioners Board showing how far the firm spread the information.
Dr Kennedy said the emails “highlighted the significant extent of the unauthorised disclosure of confidential Commonwealth information and the wide range of individuals within PwC who were directly and indirectly privy to the confidential information”.
“In light of these recent revelations and the seriousness of this misconduct, the Treasury has referred the matter to the Australian Federal Police to consider commencement of a criminal investigation,” he said.
Speaking in parliament this morning, AFP national security deputy commissioner Ian McCartney revealed the investigation was currently into “an individual in relation to their activities” but warned if police “identify any further people we believe may have committed an offence” they may find themselves under investigation.
Mr McCartney said the investigation was being run through the sensitive investigations team, but was a priority for the AFP.
Parliament has heard 53 current and former PwC partners and staff received emails revealing confidential tax information.
Peter Collins, former international tax leader for PwC Australia.
Former PwC chief executive Tom Seymour has admitted he received the leaked tax briefings and has resigned from the job.
However, Mr Seymour will stay on at PwC until September to assist in the leadership transition.
Kristen Stubbins has been appointed PwC’s interim CEO, pending an election by partners.
PwC said “we note the statement from the Treasury Secretary and will continue to co-operate fully with any investigations into this matter.”
At risk are PwC’s contracts with the government worth more than $500m.
Speaking on Thursday, Home Affairs Minister Clare O’Neil said PwC’s actions were a “grotesque betrayal of trust”, noting while Treasury was currently reviewing the breach there were limits to the response the government could take.
“We can’t break the law just because we’re the government,” she said.
“But we are doing everything we can to make sure there is accountability here.
PwC is facing growing accusations that it is not facing up to the level of mistakes it has made – including its refusal to reveal the names of the 53 partners and staff apart from Mr Collins that were involved in the tax fraud.
Likely sensing that this may be a misstep on behalf of its rival, KPMG made it clear to its staff in its own letter that it too had previously made mistakes and had taken steps to rectify them.
Under the blunt headline “doing the right thing” KPMG issued a mea culpa for past wrongs such as the integrity of the work it did in 2020 by two separate teams for NSW Treasury and Transport for NSW on different aspects of the controversial Transport Asset Holding Entity.
“As a firm we have not got everything right. And with 10,000 people working on complex and high-profile projects, there may be cases where we fall short of what is expected.”
In a clear mea culpa for past wrongs, KPMG said that in the past it had definitely not always gotten things right and had taken steps to fix these matters.
“Two such matters in particular have gained significant public attention – the TAHE matter and internal testing-related misconduct matter. These issues have challenged our internal and public stance of always acting ethically …” the CEO and chairman wrote. “In these cases, we got it wrong. But when we do get it wrong, we work to put it right.”
KMPG’s stance on the matter appears at loggerheads with PwC, which has battened down the hatches and not revealed a number of important facts, including the names of the 53 partners and staff that were involved in the tax fraud, which have all, bar Peter Collins, been redacted.
In its letter to staff, KPMG reiterated that it supported findings of the independent review into the effectiveness of the Tax Practitioners Board and the Tax Agent Services Act 2009, which found the board’s sanctions powers need to be increased.
“KPMG supports the recommendations … that relate to strengthening sanctions, improving individual accountability of partnerships and increasing TPB independence. Our firm looks forward to further public consultation on these reforms in the coming months,” the company said in its letter to staff.
Specifically, KPMG is calling for increasing individual accountability for the delivery of tax agent services within a company or partnership;
Increasing the TPB’s sanction powers, including introducing a number of new sanctions; and
Introducing greater flexibility for the TPB when undertaking investigations, including when disclosing reasons behind sanctions.
Nah, no chance. They will just concentrate on not getting caught.
www.abc.net.au
And today, we have some real meat on it.
This seems to have coincided with both federal and state governments becoming more divisive, authoritarian, illiberal and economically fascist.
At least there is still some good news
Again IMO it all boils back to only one side of the political and social spectrum, being allowed to be heard and the other side becoming more and more frustrated, the model works on the premise one side has all the answers and that is never the case IMO.This seems to have coincided with both federal and state governments becoming more divisive, authoritarian, illiberal and economically fascist.
IMO this could be easily solved by taking a few steps back from that.... like, many many steps back.
At least there is still some good news
Mick have a look at this article, some very interesting questions will be asked IMO.
I have my popcorm, an ample supply of reds, this could be very entertaining now that the legal side of things is done.Mick have a look at this article, some very interesting questions will be asked IMO.
CCTV reveals moment before Higgins allegation
Bruce Lehrmann has doubled down on claims he was not intimate with Brittany Higgins, whom he previously faced a charge of raping before it was dropped.au.news.yahoo.com
It's just getting better and better, this is turning out to be the best mini series ever IMO. ?
www.abc.net.au
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