PwC and the mysterious role of ethics in accounting regulation

Major corporate scandals such as PwC’s use of confidential tax information for commercial gain inevitably bring a focus on topics viewed in less exciting times as non-chemical cures for insomnia.

The often-arcane topic of accounting regulation, in particular, receives a sharper-than-usual focus from parliamentarians when a scandal emerges. It’s only then that legislators try to understand which regulatory body does what to which flavour of accounting professional.

It is rare that accounting regulation engenders any passion from the political actors in Canberra.