The Australia Institute’s submission to the inquiry identified serious conflict of interest risks in the consulting industry and polling found most Australians support a ban on PwC receiving new government work.
Key details:
- The inquiry into Structural Challenges in the Audit, Assurance and Consultancy Industry was called after serious problems in the consulting industry came to light.
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The inquiry report recommends:
- Continuing the ban on PwC tenders for government work until all ongoing investigations have been completed.
- Limiting partnerships to no more than 400 partners.
- Professional standards and regulations for consultants.
- Applying the Corporations Act to large partnerships.
- Greater alignment of whistleblower protections and applying those protections to large audit, accounting and consulting firms.
- “Operational separation” of audit services from other services to the same client.
- Most of the recommendations, including some of the most important, received multi-party support.
“Australians have understandably lost confidence in consulting firms following multiple scandals, including mismanaged conflicts of interest, leaking of confidential government information and burying information that reflected badly on the illegal Robodebt scheme,” said Bill Browne, Director of the Australia Institute’s Democracy & Accountability Program.





