Police raid PwC’s Sydney office amid tax scandal probe

POLICE raided PwC Australia’s Sydney offices on Monday (November 4) as part of an ongoing investigation into the company’s tax scandal.

CEO Kevin Burrows warned partners that law enforcement would be on site to review files as part of the investigation, a PwC spokesman said. Australian Financial Review The development was previously reported.

“This move is part of an existing investigation that began in 2023 into a landmark tax matter and is an investigation into individuals who have left the firm,” the firm said in a statement. Out of respect for the work of the police, “we will not be making any further comment”, adding that PwC is fully co-operating, as it has been since the beginning.

PwC Australia has in the past shared confidential information about its work with the government on upcoming tax changes to generate new business in private firms. This led to the senior PwC partner at the center of the scandal being banned from providing financial services, prompting investigations into allegations of conflicts and ethics violations among firms in the industry and at several levels of government.

Following the revelations, PwC Australia overhauled its management and sold its government services division. In February, the Australian Federal Police said the ongoing criminal investigation into PwC’s confidentiality breach, Operation Alesia, was international in scope. BLOOMBERG