Rest of the big four decline to join PwC on political donations ban
EY and Deloitte will continue making political donations despite PwC ceasing all such contributions after its tax leaks scandal, while KPMG is reviewing its stance on the practice.
PwC ended its longstanding practice of making donations as part of its ongoing efforts to restore its public standing after the scandal. The firm had typically been the largest political donor among the big four consulting firms.
The big four consulting firms have been under the spotlight this year. Fairfax
PwC’s last donations, for the 2022-23 financial year, were up by 50 per cent on the previous year to $370,000. EY increased its donations for FY23 by 75 per cent to almost $228,000, Deloitte’s contributions were down 26 per cent to $177,000, and KPMG’s handouts were down 34 per cent to $160,000.
PwC Australia chief executive Kevin Burrowes said the firm, which no longer provides services to the public sector, believed that a professional services firm making political donations no longer “align[ed] with community expectations”.
EY, Deloitte and KPMG all continue to provide services to all levels of government while also making the donations. The federal government has pulled back on its use of the big four consulting firms this financial year and is emphasising bringing skills back into the public service.
‘Engagement with policymakers’
An EY spokesman said the firm would continue to attend ticketed political events “as part of our engagement with policymakers” but did not make “cash donations to political parties or individuals”.
A Deloitte spokeswoman said the firm’s donations were “primarily for the purpose of facilitating discussion and the exchange of ideas between business, the broader community and government in the formation of policy”.
She said the firm makes only “non-cash contributions that are distributed across the major political parties to pay for fees associated with attending events. We do not use political donations to gain favour with government or political parties.”
KPMG has paused its contributions as it reviews its political donations policy, a spokeswoman said. She said a portion of the firm’s previous donations have been in the form of “in-kind contributions, event sponsorships and membership fees for political party business forums”.
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Professional services
Fetching latest articles