The private equity firm behind PwC spin-off Scyne Advisory have conceded there are “inherent conflicts” of interest in consultancies working across the public and private sector, as it moved to distance the new venture from the disgraced Big Four firm this week.
Scyne, which was established through a $1 sale of PwC’s government work arm to Allegro Funds in the wake of the tax leaks scandal, told a NSW inquiry it won’t take private sector clients and has instituted more appropriate governance than its predecessor.
Executives from PwC will front a federal Senate inquiry on Friday and are expected to be questioned on fresh allegations about its former chief executive’s conflicts.
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