PricewaterhouseCoopers LLP's Australia unit said Ziggy Switkowski, chancellor of the Royal Melbourne Institute of Technology and former CEO of the telecommunications company Telstra, will lead an independent review into its governance and culture after a scandal of unauthorized sharing of confidential tax policy information rocked the firm.
Key findings and recommendations from the review are due in September, according to a PwC statement Monday. The firm said it won't hesitate to take the recommended actions, which may include exiting further people and partners from the company.
Tony O'Malley, currently PwC's leader for global legal business solutions, was appointed chief risk and ethics leader for the Australia unit with immediate effect, the statement said. He will have responsibility for all aspects of ethics and compliance at the firm and will help lead the implementation of the external review's recommendations. Tom Seymour, former CEO, will retire from the partnership on Sept. 30.
"We are committed to learning from our mistakes and ensuring that we embrace the high standards of governance, culture and accountability that our people, clients and external stakeholders rightly expect," Kristin Stubbins, acting Chief Executive of PwC Australia, said in the statement. "Switkowski will have access to all the people and information he needs to conduct a rigorous and robust review. We look forward to receiving his report and acting swiftly on its recommendations."
The scandal has sent ripples through the consulting giant in recent weeks and local media reported
