The Tax Practitioners Board (TPB) is conducting a new inquiry into the failure of PricewaterhouseCoopers (PwC) and its partners to report confidentiality breaches committed by the firm's former head of international tax, Peter Collins. 

The TPB investigation focuses on the legal obligation of accounting firms and individuals to report breaches of fitness and propriety under the Tax Agents Services Act. 

The inquiry's revelations were disclosed during a Senate inquiry into consulting, which repeatedly addressed the PwC leaks scandal.

The TPB's investigation has alarmed current and former senior leaders at PwC, who were aware of the firm's monetisation of the confidential information obtained by Collins. 

The leaks, which included Treasury tax plans, are also under investigation by the Federal Police.

During the Senate inquiry, the Department of Finance expressed concerns about PwC's failure to explain how it would protect its Commonwealth consulting services. 

Treasury officials denied any negligence in responding to the leaks, and KPMG CEO Andrew Yates called the scandal “disturbing” while apologising for his firm's own misconduct.

The Australian Taxation Office (ATO) denied attempting to hinder the investigation into the PwC leaks scandal by the industry regulator, dismissing a report by The Australian Financial Review as “misleading”. 

Second Commissioner Jeremy Hirschhorn stated that the ATO had supported the investigation into Collins and PwC, clarifying that concerns were focused on the TPB's investigation methods.

The TPB's new investigation aims to identify the individuals within PwC responsible for reporting the breaches to the board. 

TPB CEO Michael O'Neill acknowledged the failure of PwC's notifications regarding the leaks, saying the role of specific individuals and registered entities is still being reviewed.

The TPB rejected Collins' offer to surrender his tax agent registration during the investigation. 

Collins, whose registration was ultimately terminated, had used confidential information in PwC's tax practice to facilitate the sale of tax-avoidance solutions to multinational companies.

The TPB's appearance before the parliamentary committee coincided with a decision by committee members not to disclose the names provided by PwC. 

These names include 63 individuals mentioned in internal emails related to the case. Despite arguments for transparency, the committee voted against releasing the names.

In response to the PwC leaks scandal, Chartered Accountants ANZ announced its intention to increase the maximum penalty for breaches of its code by member firms, aiming to rebuild the industry's reputation.

The TPB continues its investigation into the PwC leaks scandal, expanding its focus beyond Collins to include PwC itself.