Australia's leading accounting body has handed down a significant penalty to a former top executive at PricewaterhouseCoopers over his involvement in the firm's major tax leaks controversy.
Peak Body Imposes Ban and Financial Penalty
Chartered Accountants Australia and New Zealand (CA ANZ) has suspended former PwC chief executive Tom Seymour from membership for four years and issued him a $15,000 fine. The disciplinary action, confirmed on Tuesday, 2 December 2025, stems from Mr Seymour's role in the scandal where confidential government tax information was improperly shared within the firm.
The ruling by the accountants' peak body follows an earlier, damning decision in July by the Tax Practitioners Board (TPB). The TPB revoked Mr Seymour's registration, finding he failed to address an unethical culture at PwC that allowed partners to share sensitive government information.
The Scandal That Rocked PwC and the Consulting Industry
Mr Seymour led PwC for three years until May 2023. Prior to that, he was head of the firm's tax division during the period when a senior PwC partner, who was seconded to Federal Treasury, passed on secret details about upcoming tax laws to other partners.
This confidential information was then used by PwC to solicit business from multinational companies seeking advice on how to navigate the new laws. The scandal erupted into public view in 2023, causing severe reputational damage.
The fallout was immense, triggering a temporary ban on PwC winning Australian government contracts and ultimately forcing the sale of its lucrative government consulting arm. The episode damaged trust not only in PwC but in the broader consulting and accounting professions.
Cooperation and Continued Disagreement
In its published decision, CA ANZ noted that Mr Seymour cooperated with its investigation and agreed to have the matter dealt with on an expedited basis by its tribunal, avoiding a formal hearing. However, the body stated that he reiterated his disagreement with the TPB's findings, maintaining they were incorrect.
Beyond the suspension and fine, CA ANZ stripped Mr Seymour of his status as a fellow of the organisation and ordered him to pay costs of $9,757. The body stated the sanctions reflected the seriousness of the TPB's findings and Mr Seymour's oversight of other PwC partners.
The penalties were also deemed necessary to uphold the reputation of CA ANZ and the integrity of the accounting profession. The tribunal was satisfied the conduct related to Mr Seymour's professional competence and integrity in his role as a senior leader in PwC's tax services.
The Tax Practitioners Board had previously found that Mr Seymour "failed to act with integrity" by not recognising or stopping a business culture in PwC's tax division that resulted in sharing confidential information. It concluded his conduct damaged the reputation of the tax profession and undermined confidence in the tax system's integrity.
