PwC should consider entering into a deferred prosecution agreement with federal authorities to avoid a repeat of the Enron debacle.
Mr Fisse said it was important for full accountability, appropriate compensation and for remediation to be effective.
Instead, Mr Fisse said authorities, led by the Attorney-General Mark Dreyfus, should look to impose a deferred ban agreement, akin to a deferred prosecution agreement that US and UK corporate regulators frequently use.and allowed regulators to come up with “more creative remedies than anything that judges can do under legislation”.
He said if PwC were not prepared to enter into a deferred ban agreement, the consequence might be no further grant of Commonwealth contracts unless and until it entered into that agreement. He said a condition of a deferred ban agreement could be to require PwC to use a corporate entity under the Corporations Act when contracting with the Commonwealth.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PwC taps top Victorian public servant for partner rolePwC Australia has quietly appointed a former top-ranking Victorian public servant as a partner as the embattled consulting giant weathers a global crisis.
Read more »
Luke Sayers missing from PwC tax scandalSayers’ leadership of PwC covered the entire relevant period of its misconduct.
Read more »
Richard Boyle faces life behind bars while those in the PwC scandal are protected by the corporate worldIt's a crisis that calls into question the wisdom of government outsourcing crucial functions and highlights the often cosy relationship between government, bureaucracy, regulators and the corporate world, writes Ian Verrender.
Read more »
Police hoping to enter hostel today after deadly suspicious blaze in NZPolice are hoping to find more answers regarding a fire that killed at least six people in a hostel in NZ. Authorities have confirmed the blaze is being treated as suspicious, while fire crews are investigating whether alarms went off as intended. 9News
Read more »
Police hoping to enter hostel today after deadly suspicious blaze in NZPolice are hoping to find more answers regarding a fire that killed at least six people in a hostel in NZ. Authorities have confirmed the blaze is being treated as suspicious, while fire crews are investigating whether alarms went off as intended. 9News
Read more »
Police hoping to enter hostel today after deadly suspicious blaze in NZFire fighters in New Zealand have just handed the scene of a fatal hostel blaze to police - as the search for answers ramps up. MarkWBurrows is in Wellington with the latest. 9News MORE:
Read more »