Pride comes before a fall and hubris (literally and metaphorically in defiance of the gods, since the ‘accountancy’ firm PwC was so woke any concept of god was anathema). Yes, I’m full of Greek today. Nemesis is in the air, hovering with an upswept, knife-bearing, clothed arm.
Seven years ago I alluded to the sanctimonious nature of modern capitalism with particular reference to this company, with a 2018 update.
Sanctimonious? Try ‘corrupt'.
Some select quotes from the last few days' news:
PwC's acting chief executive Kristin Stubbins may now face questions as (to why) she sat on a NSW district health board during the time her firm was awarded millions of dollars in contracts to that district.
- News, The Australian Business Review, 1 June
Earlier this year, Tim Ryan, chair of PwC's giant US operation ... said: "Building trust has never been more important." ... The shocking abuse of trust at PwC's tax advisory arm has shredded the reputation of the firm's business and the damage looks set to spread locally ... .
- Eric Johnson in The Australian Business Review, 1 June
The brouhaha over PwC corruption should make us question the ethical superiority of the financial services sector ... why should other sectors so readily genuflect to these arbiters of human resources?
- Timothy Lynch (Professor of American Politics, University of Melbourne) in The Australian, 2 June
Everyone has their favourite example of PwC's smug moralising ... In 2016 ... Luke Sayers (PwC boss until May 2020) sent a letter to PwC's Australian employees offering staff emotional counselling after Donald Trump was elected as president.
- Janet Albrechtsen in the Weekend Ausralian, 3-4 June
Luke Sayers has broken his silence on the crisis ... vowing to co-operate with any official government or Australian Federal Police investigations.
- News, Weekend Australian, 3-4 June
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