SYDNEY, June 25 (Reuters) - PwC Australia on Sunday entered an exclusivity agreement with private equity firm Allegro Funds to sell its government practice for A$1 as it brought in an executive from Singapore to lead its local firm through the fallout from a national scandal. Amid a growing backlash from key government clients, PwC said it had entered an exclusivity agreement to divest its federal and state government business to Allegro Funds for A$1 ($0.67) as first reported on Friday. A spokesperson for Allegro Funds declined to comment. NEW CHIEF EXECUTIVEGlobal PwC Chair Bob Moritz publicly apologised in a statement and said PwC Australia had failed to meet the firm's standards and values under past leadership. "PwC Australia has significant work to do and I am confident that the steps they are taking ... will result in a stronger firm," Moritz said.

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Persons: PwC, Justin Carroll, Deborah O'Neill, Bob Moritz, Kevin Burrowes, Kristin Stubbins, Burrowes, Moritz, Lewis Jackson, Sam McKeith, Christopher Cushing, Tom Hogue Organizations: SYDNEY, Sunday, Funds, Allegro Funds, PwC, Labor, Global, & Industries, Thomson Locations: Australia, Singapore, Sydney