PwC Australia has confirmed that the Australian Federal Police (AFP) investigating the disclosure of Australian Government tax secrets have raided its offices.
AFP officers entered PwC’s Sydney office on Monday as they continued their investigation into the unauthorised sharing, within the firm and with corporate clients, of confidential multinational tax information obtained from the Government.
PwC said this was part of an investigation that began in 2023 into an “historical tax matter” and people who have since left the firm.
“We have been working with the Australian Federal Police to facilitate their attendance and will continue to fully cooperate with their investigation, as we have from the beginning,” the assurance, advisory and tax services firm said in a statement.
“In the past 18 months, PwC has introduced significant governance, business and cultural reforms, and our people remain focused on delivering the best outcomes for our clients and communities.”
PwC has previously apologised to the community, the Government for breaching its confidentiality, and clients for the questions raised about its integrity and trustworthiness.
The Australian Treasury department referred the matter in May 2023 to the AFP, which began an investigation called Operation Alesia.
PwC’s reputation has been badly damaged by media reports that some of its consulting staff provided advice to the Government on how to draft laws to prevent tax avoidance and used that information to advise clients on how to circumvent those laws.
The tax leaks scandal also claimed the jobs of PwC CEO Tom Seymour and two Executive Board members, while nine members of the Executive Board and Governance Board went on leave, leave pending the outcome of an investigation.
PwC also sold its consulting business to private equity firm Allegro Funds for $1 last year in a bid to limit the damage to its reputation.