PwC Woes Grow as $159 Billion Australian Fund Joins Boycott (1)

Australia’s second largest pension fund has joined the boycott of PricewaterhouseCoopers as the fallout of the embattled accounting firm’s tax evasion scandal spreads.

Australian Retirement Trust, which manages A$240 billion ($159 billion) for 2.2 million members, “will not be undertaking any new contracts with PwC at this time,” a spokeswoman told Bloomberg in an emailed statement.

The action, following similar moves by industry giant AustralianSuper and a slew of government entities since last week, is the latest sign of the costly fallout caused by revelations that PwC’s Australia unit used confidential government tax policy information to advise its global ...