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Allegro says independent board to oversee PwC Australia's government business

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Australian investment firm Allegro Funds said on Tuesday it would set up an independent board to oversee PwC Australia's government practice business, which it bought last month, and committed A$100 million ($67 million) for transition costs.

to sell its government practice for A$1

The scandal, which broke in January, revolves around a former PwC tax partner who had been advising the federal government on laws to prevent corporate tax avoidance and shared confidential information with colleagues who then used it to pitch to multinational companies for work.

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