Philip Lowe ‘appalled’ by PwC scandal but says firm will continue to audit Reserve Bank

At an estimates hearing on Wednesday, RBA governor also repeats the bank’s commitment to raising interest rates to reduce inflation

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Scandal-hit accounting firm PwC will continue to audit the Reserve Bank, including over possible underpayment of staff, but won’t get new contracts unless it can demonstrate “complete” transparency and accountability, governor Philip Lowe said.

Addressing a Senate estimates committee on Wednesday, Lowe said he was “appalled as you are” about PwC sharing of confidential tax design information with its corporate clients.

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