PwC Contracts Frozen by $191 Billion Australian Pension Fund

Australia’s largest pension fund AustralianSuper has frozen all future contracts with PricewaterhouseCoopers as it assesses the fallout of the embattled accounting firm’s tax advice scandal.

The A$290 billion ($191 billion) fund’s management has expressed its concerns to PwC about the disclosures “at the highest level,” a spokesman for the fund told Bloomberg on Friday. It was paying the firm more than A$2 million a year for services including the audit of its annual financial report, the document shows.

“AustralianSuper is concerned with the ongoing revelations around PwC and as a result has frozen any new contracts with PwC,” the ...