Client exodus from PwC

The fund said it is “very concerned” and will “restrict consideration of PwC for any new or additional service provision”. — Reuters

SYDNEY: The Health Employees Superannuation Trust Australia, one of the country’s largest pension funds, is freezing work with PricewaterhouseCoopers (PwC) Australia, the latest fund to blacklist the firm amid a national scandal over its misuse of confidential government tax plans.

The A$72bil (US$48bil or RM221bil) fund is “very concerned” and will “restrict consideration of PwC for any new or additional service provision”, according to a statement yesterday. The fund is audited by PwC.

PwC did not immediately respond to a request for comment.

The move comes days after Australia’s largest and second-largest pension funds froze work with the firm and raised the risk that PwC may lose private sector clients. — Reuters

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PwCAustralia , pensionfund , audit , tax , corruption , scandal


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