- PWC announces new CEO from its Singapore team
- Consultancy firm will sell off its government operations
- The firm has been in crisis after the tax leaks scandal
Beleaguered consultancy giant PwC Australia has named its new chief executive officer and announced it will sell off its government operations to a private equity firm for just $1.
The big four professional services firm on Sunday announced it would fly in a new CEO from its Singapore team as it attempts to repair the repetitional damage caused by the tax leaks scandal.
PwC has been in crisis mode following revelations former taxation partner, Peter Collins, leaked sensitive and confidential government information to fellow partners and clients.
Mr Collins has since been banned from acting as a tax practitioner, and federal Treasury has referred the scandal to the Australian Federal Police for a criminal investigation.
In a bid to ward off further controversy, PwC confirmed on Sunday that all of its federal and state government business would be divested exclusively to Allegro Funds for a mere $1.
The new entity has been referred to as project ‘Bell’. It will become a company and will therefore be subject to corporate governance obligations and oversight from ASIC via the Corporations Act.
PwC Australia operates on a partnership model, meaning it is not incorporated and is not subject to corporate governance oversight, instead it has voluntarily adopted a code of conduct.
The deal involves about 130 partners and 2000 staff. The government consulting operations arm of PwC was responsible for about 20 per cent of the firm’s revenue in the 2023 financial year.
The firms are positioned to sign a binding agreement by the end of July.
Additionally, PwC’s global leaders will parachute Kevin Burrowes into the top job after they seizing control of the troubled Australian arm of the business.
Mr Burrowes will take over from Kristin Stubbins, who has been acting in the top job for almost seven weeks after former CEO Tom Seymour resigned in early May.
Mr Seymour quit after he was revealed to have received emails from Mr Collins containing confidential Treasury information.
Nine PwC partners were directed to go on leave immediately around the same time as Mr Seymour stepped down last month.
Mr Burrowes plans to relocate from Singapore to Sydney to become a PwC Australia partner and the firm’s CEO but he is yet to complete Australia’s immigration process.
PwC Australia’s move to divest its government operations comes after the federal government effectively barred the firm from any new contracts and the NSW government announced a temporary suspension on offering the firm any new tax work.
The consultancy firm said the sale of this part of the business to Allegro Funds would impact its future size and operations.
PwC Australia chair Justin Carroll said the sale was the ‘right thing to do for our public sector clients’ and he hoped the move would protect the jobs involved in the firm’s government business operations.
‘This was an extremely difficult decision, but we are determined to take all necessary steps to protect the jobs of our people and re-earn the trust of our stakeholders,’ he said in a statement sent to media on Sunday.
Mr Burrowes will become PwC Australia’s new CEO following a stint as the PwC Network’s global clients and industries leader after first joining the firm in 1986.
PwC has said Mr Burrowe’s priority would be improving the firm’s culture, with a specific focus on ‘ethics and controls’.
He said he was ‘honoured’ to have been selected to lead PwC Australia and vowed to ‘work tirelessly’ to increase transparency and repair trust with the firm’s stakeholders.
PwC global chair Bob Moritz on Sunday said PwC Australia had failed to meet the global partnership’s professional standards and values under its past leadership.
‘Its past actions are not representative of the work and behaviours of PwC around the world and I am deeply sorry to our clients, our broader stakeholders and our people,’ he said.
‘PwC Australia has significant work to do and I am confident that the steps they are taking with the network’s support will result in a stronger firm.’
Earlier this month Ms Stubbins released a statement stating, ‘I want to apologise on behalf of PwC Australia. For sharing confidential government tax policy information and for betraying the trust placed in us.’
She admitted there had been a clear lack of respect for confidentiality and that PwC Australia did not have adequate processes and governance in place.
- EXCLUSIVE: Former Towie star Ferne McCann has put her luxury four-bed home in rural Essex up for rent
- The reality TV star, 32, broke down during interview about her infamous voice note ‘about acid attack victim’
Pregnant Ferne McCann wants to quit her home following her voice-note scandal – and has put it up for rent for £5,000-a-month.
The former Towie star, 32, has put her luxury Essex four-bed up for rent with estate agents Barringtons for £1,142 a week.
And publicity pictures of the available property leave little doubt of who lives there – as Ferne’s daughter Sunday’s name can be seen clearly on a toybox.
With another baby on the way it is possible that the model needs more space for her ever-expanding family.
Pictures of the house on the estate agent listing show off the life of luxury Ferne enjoys there.
There is lots of character in the property, including a rather unusual bed in one of the rooms.
The garden is one of the stand-out features and boasts an expertly manicured lawn as well as tidy patio.
There is also another outdoor space area for residents and guests to chill out in and enjoy a drink or bite to eat.
If you are more active, you no longer even need to step out of the door to get the rush from exercise.
The property boasts its very own gym, complete with a treadmill and a weightlifting bench.
One of the four bedrooms is decorated in subtle shades but has a fabulous view out into the countryside.
And even the loft has been utilised as an office space with a computer set up and a table to discuss business.
On Wednesday Fearne broke down in tears on This Morning as she discussed her leaked voice notes scandal.
The pregnant reality star, 32, described it as her ‘lowest moment’ and admitted she has been in therapy since the incident.
In November 2022, an anonymous Instagram account, called Lady Whistledown after the Bridgerton secret gossip sharer, posted a series of voice messages from a woman they claimed was Ferne.
One heard a woman’s voice label one of acid attacker Arthur Collins ‘ victims a ‘silly b****’ while another saw Ferne accused of body-shaming Sam Faiers.
Ferne, who is expecting her first child with fiancée Lorri Haines, 31, said that she was a ‘different person now’ and that the infamous recordings happened six years ago when she was in a ‘vulnerable situation’.
The former TOWIE star, who is already mum to daughter Sunday, five, was shown a clip from her ITVbe show First Time Mum, which documented the breaking scandal and aftermath.
Struggling to watch, Ferne said: ‘I wear my heart on my sleeves and I like to be transparent with my viewers’.
‘I have to let the cameras and it really is warts and all. I can’t just not include the difficult times.’
She went on to describe the incident as not her ‘finest hour’ and revealed she had attempted to contact those hurt by the incident.
‘It wasn’t my finest hour, it was a difficult time of my life.’
‘I need to take this opportunity again to apologise publicly again, and I have reached out to those people, but it is a criminal investigation so I can’t say too much’.
She continued: ‘The voice notes were from a time when I was in a very vulnerable situation about six years ago, I have been in therapy for six years since, I am a different person’.
In a bid to find some positive in the sad situation Ferne said: ‘I know my story will be able to help a lot of women and until then unfortunately I can’t say too much.’
Ferne previously revealed that her new series will ‘address’ the voice notes leak, but cannot reveal the ‘full truth’ due to legal reasons.
Speaking on This Morning she again referred to the ongoing investigation: ‘I understand that it is really confusing, and I have this burning desire to share everything that happened to me and why I said these things but I can’t, there will be a time when I can so I hope that people can be patient with me until then.’
Going on to praise her reality show as a distraction and focus during the uproar: ‘Of course, I was hurting it was some of my lowest moments, first time mum has been a lifeline for me.’
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It comes after filming on the series resumed following claims she made derogatory comments about ex-partner Arthur Collins’s acid attack victims.
It was claimed ITV bosses are backing Ferne amid her leaked voice note scandal.
A source told The Sun in November: ‘Ferne is resuming filming for First Time Mum and is heading to India.
‘She is booked to fly out of the country today and is taking a film crew with her.
‘Initially plans for filming were paused as the voice note scandal unfolded. However Ferne has the backing of her ITV bosses and filming will start in the coming days.’
Ferne previously faced calls for her show to be axed after an anonymous Instagram account leaked voice notes allegedly sent by Ferne , in which a woman’s voice labels one of acid attacker Arthur Collins’ victims a ‘silly b****’.
It has been claimed they were referring to Sophie Hall, who reached the final of a Miss England final 15 months after the sickening attack, baring her scars.
Collins is currently serving 20 years in prison after he threw acid in an East London nightclub in April 2017 and injured 14 people.
Ferne was blasted by acid attack victim Sophie Hall, 27, for her recent ‘insincere’ apology after calling her ‘ugly’ in the leaked voice notes.
Ferne admitted she was the voice in shocking audio files, but claimed she recorded them because she feared ‘serious harm and in the face of significant threats’.
Sophie has since demanded Ferne says sorry to her on camera while alleging she wasn’t able to read the statement since Ferne blocked her on Instagram.
She told The Sun: ‘To me her words feel so insincere. Ferne is simply trying to salvage her career. I don’t think she is sorry at all.
Ferne wrote in her online statement: ‘I am aware that people will have a number of questions about the voice messages being put into the public domain and purportedly sent by me.
‘I feel I have no choice but to address these (to the extent that I can as there are restrictions on me which I explain below).
‘Most importantly I want to apologise to all the victims of Arthur Collins abhorrent actions in 2017 that they have to relive that night and the pain that followed because this matter is again in the public domain.
‘In particular I want to apologise to Sophie Hall. I do not believe her to be ugly or stupid. She has been brave beyond belief.
‘Arthur Collins’ crimes created genuine victims so I am not trying to portray myself as one. I am unable to say much because there are important and significant legal proceedings that prevent me from setting the record straight at this stage.
‘What I can say is that the voice messages that are being released are manipulated; edited and taken entirely out of context.
Even so, I will have said things that are untrue and I did not believe – but I did so to protect my family and myself from serious harm and in the face of significant threats.’
The audio clips aren’t the first to circulate the internet, with the reality star previously accused of slamming and body shaming friend Sam Faiers.
In a statement shared with MailOnline, Ferne called the scandal a ‘harassment’ campaign against her, as well as offering her sympathies to those offended by the remarks.
The last of 20 people in California who helped put hundreds of unqualified drivers on the nation’s highways operating big commercial vehicles has been successfully prosecuted, federal officials said Monday.Everyone charged in the long-running investigation was ultimately convicted and sentenced, except for one suspect who died before trial.They were variously convicted of bribing public officials, identity fraud, accessing computers without authorization and conspiracy in cases that spanned the state from the Los Angeles area to near the Oregon border. Some accepted hundreds of thousands of dollars in bribes.They included employees at the California Department of Motor Vehicles who accepted bribes to record fake scores for applicants’ written and driving tests, including some who could not pass the exams and others who had not even taken the tests, prosecutors said.Class A commercial drivers’ licenses like the ones involved in some of the alleged bribes are required to operate trucks, including 18-wheel cargo semitrailers. They are more difficult to obtain than regular driver licenses, and applicants must pass both a written test and a behind-the-wheel test that is offered at a limited number of DMV locations.Trucking school owners bribed the DMV employees to pass unqualified drivers.In all, prosecutors estimated that the employees issued hundreds of fraudulent commercial driver license permits and licenses, risking public safety.Among them was longtime DMV employee Shawana Denise Harris, 52, of Phelan. She was sentenced to five years in federal prison earlier this month for updating test scores for at least 185 commercial drivers license applicants.She and a colleague were usually paid at least $1,500 each time, or more than $277,000 in total bribes, prosecutors said.Federal prosecutors said when they first announced the investigation in 2015 that some employees were paid up to $5,000 for each driver in a scam that began at least as early as June 2011. Investigators had linked up to 23 traffic accidents to the scam at the time, but no fatalities.”Allowing unqualified drivers to operate heavy commercial trucks on our highways is honestly quite chilling,” Carol Webster, acting assistant special agent in charge of the U.S. Homeland Security Investigations office in Sacramento, said at the time.It was the latest of several similar bribery schemes.Harris received the longest sentence of anyone, although two others were sentenced to more than four years in prison and three suspects to more than three years. Three suspects received sentences of at least two years in prison, and four others at least a year-long sentence.The last person sentenced was driving school owner Tajinder Singh, one of Harris’ co-defendants. He was fined $5,500 Thursday and sentenced to seven months of home confinement.The investigation dragged through the coronavirus pandemic, and two of those convicted had their sentences shortened because of the pandemic.
SACRAMENTO, Calif. —
The last of 20 people in California who helped put hundreds of unqualified drivers on the nation’s highways operating big commercial vehicles has been successfully prosecuted, federal officials said Monday.
Everyone charged in the long-running investigation was ultimately convicted and sentenced, except for one suspect who died before trial.
They were variously convicted of bribing public officials, identity fraud, accessing computers without authorization and conspiracy in cases that spanned the state from the Los Angeles area to near the Oregon border. Some accepted hundreds of thousands of dollars in bribes.
They included employees at the California Department of Motor Vehicles who accepted bribes to record fake scores for applicants’ written and driving tests, including some who could not pass the exams and others who had not even taken the tests, prosecutors said.
Class A commercial drivers’ licenses like the ones involved in some of the alleged bribes are required to operate trucks, including 18-wheel cargo semitrailers. They are more difficult to obtain than regular driver licenses, and applicants must pass both a written test and a behind-the-wheel test that is offered at a limited number of DMV locations.
Trucking school owners bribed the DMV employees to pass unqualified drivers.
In all, prosecutors estimated that the employees issued hundreds of fraudulent commercial driver license permits and licenses, risking public safety.
Among them was longtime DMV employee Shawana Denise Harris, 52, of Phelan. She was sentenced to five years in federal prison earlier this month for updating test scores for at least 185 commercial drivers license applicants.
She and a colleague were usually paid at least $1,500 each time, or more than $277,000 in total bribes, prosecutors said.
Federal prosecutors said when they first announced the investigation in 2015 that some employees were paid up to $5,000 for each driver in a scam that began at least as early as June 2011. Investigators had linked up to 23 traffic accidents to the scam at the time, but no fatalities.
“Allowing unqualified drivers to operate heavy commercial trucks on our highways is honestly quite chilling,” Carol Webster, acting assistant special agent in charge of the U.S. Homeland Security Investigations office in Sacramento, said at the time.
It was the latest of several similar bribery schemes.
Harris received the longest sentence of anyone, although two others were sentenced to more than four years in prison and three suspects to more than three years. Three suspects received sentences of at least two years in prison, and four others at least a year-long sentence.
The last person sentenced was driving school owner Tajinder Singh, one of Harris’ co-defendants. He was fined $5,500 Thursday and sentenced to seven months of home confinement.
The investigation dragged through the coronavirus pandemic, and two of those convicted had their sentences shortened because of the pandemic.