Leaking government secrets. Memos that start with “for your eyes only”. Operating above the law. Is this the new James Bond film? No, it’s just another day in the office at PwC Australia. Who said accounting was boring?

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PwC’s “rainmaker” partners put profits ahead of ethics, report finds

The Big Four aren’t covering themselves in glory at the moment.

PwC is feeling the heat in Australia where it’s in the middle of a long-running tax scandal. Back in 2015, a partner shared secret information about the Australian government’s future tax policies with private clients, breaching confidentiality and making millions of dollars.

Now an independent review has found that kind of culture is far reaching. It says PwC partners who make money are known as “untouchables” and “rainmakers” who are allowed to overlook ethics in pursuit of profit. The review also found many staff believe “revenue is king” and partners who beat financial goals aren’t always held accountable for their business practices.

That comes amid a tough time for the Big Four elsewhere. They’re cutting staff in the UK, reportedly because they hired too much during the pandemic($). And Spain has slapped the consultancies with a fine after employees complained about working up to 16 hours a day.

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The bottom line