Australia’s largest superannuation fund has said it will not sign any new contracts with PwC as the consulting firm grapples with the fallout from a tax scandal in one of its biggest markets.
AustralianSuper, which has almost 3mn members and A$290bn ($191bn) of assets under management, said on Friday that it would freeze any new work with the Big Four firm and review an audit contract later this year.
“AustralianSuper is concerned with the ongoing revelations around PwC and as a result has frozen any new contracts with PwC,” said a spokesperson for the fund. AustralianSuper had expressed those concerns “at the highest level” to PwC last week, he added.
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