Partners overlooked rule-breaking by ‘rainmaker’ colleagues in pursuit of revenue growth, independent assessment shows

PwC Australia is implementing significant governance reforms in the wake of a scandal involving the leak of confidential tax documents.

PwC Australia will appoint outsiders to its board and publish audited financial statements as part of a governance overhaul to bring the partnership closer to public company standards following a scandal over the leak of confidential tax documents.

Former Telstra chief Ziggy Switkowski has unveiled a review of PwC in the wake of the tax leaks scandal, but it's unlikely this is the end of an intense probe of its business and the way other consulting firms manage conflicts of interest,

A long-awaited review into the culture of PricewaterhouseCoopers has revealed seven key shortcomings within the firm, including an aggressive growth agenda which drove a "whatever it takes" attitude, and a hesitancy to discuss "bad news".

PwC Australia said on Wednesday it would adopt, and in some cases already had, the report's 23 recommendations, which include appointing an external chief risk officer, revamping firm culture, and linking partner pay to ethical behaviour.

PwC Australia said its risk controls were inadequate and its board didn’t challenge the firm’s leadership enough, following a months-long independent inquiry into malpractice.

An individual in PwC Ireland was among international colleagues contacted by former a PwC Australia partner as he sought to win business with confidential Australian tax information