Australia’s fourth largest pension fund banned new employment with PwC Australia amid a controversy involving the exploitation of government tax schemes.
UniSuper, which manages A$115 billion ($77 billion), joined five of Australia’s top pension funds in suspending engagement with PwC, a “leading adviser” to the sector.
UniSuper suspended new contracts for the “immediate future” due to recent PwC incidents.
The “big four” accounting company fired eight partners, including its former CEO, a day earlier to “re-earn trust.”
UniSuper’s internal auditor, PwC, declined to comment.
“While PwC has provided the Fund with an assessment that the relationship we have built over years has not been affected by this situation, we have sought further assurances on this matter,” a UniSuper representative said.
In January, tax officials found that a former PwC partner who advised the Australian government on anti-tax evasion regulations had shared sensitive versions of the government’s plans with colleagues and used them to solicit business.
The scandal has cost PwC, several high-profile clients, including the Reserve Bank of Australia, and forced the sale of its valuable government consultancy division for A$1.
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