PwC Australia sells government business and appoints new CEO amidst scandal.
PwC Australia is reportedly in talks with private equity firm Allegro Funds to sell off its government, education, and healthcare practice, which could include 100 partners and 1,000 staff. The move would provide independence from PwC and allow the partners to bid for government contracts again. PwC has been dealing with a PR storm and the loss of critical clients due to a tax scandal involving the leak of confidential government tax information by ex-partner Peter Collins. A recent survey found that 79% of Australians want PwC banned from receiving new government work.