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Australian Auditors Still Under Scrutiny

Australian Auditors Still Under Scrutiny

by Starling Insights

Starling Insights Editorial Board

Jan 09, 2024

Observations

Australia Governance, Audit & Regulatory Failures Audit The Era of Accountability

In a recent interview with the Australian Financial Review, Senator Deborah O'Neill, a key figure in exposing PwC Australia's tax leaks scandal, warned that the audit, accounting, and consulting sectors should not expect a quick reprieve from ongoing scrutiny as 2024 begins.

"The scale of misconduct in this industry, which is now part of the public record, requires extensive and ongoing attention in order to reform," she said. The PwC scandal — which involved the use of confidential government information to help clients avoid taxes — led to leadership changes, the global takeover of PwC Australia, and the forced sale of the firm's public sector consulting arm.

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