{"id":1963885,"date":"2023-07-04T07:30:02","date_gmt":"2023-07-04T11:30:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pwc-work-suspended-by-77-billion-australian-pension-fund\/"},"modified":"2023-07-04T07:32:39","modified_gmt":"2023-07-04T11:32:39","slug":"pwc-work-suspended-by-77-billion-australian-pension-fund","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pwc-work-suspended-by-77-billion-australian-pension-fund\/","title":{"rendered":"$77 billion Australian pension fund halts PwC work."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fpwc-work-suspended-by-77-billion-australian-pension-fund%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1963885&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>UniSuper Suspends Work with PwC Australia Amid Scandal<\/h2>\n<p>By Lewis Jackson<\/p>\n<p>Sydney (Reuters) \u2013 Australia\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pwc-work-suspended-by-77-billion-australian-pension-fund\/\" title=\" billion Australian pension fund halts PwC work.\">fourth largest pension fund suspended<\/a> new work with PwC Australia on Tuesday, the latest in a string of funds to pause work with the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sidney-powell-is-an-american-legal-giant\/\" title=\"Sidney Powell Is an American Legal Giant\">accounting firm<\/a> over a scandal which first surfaced in January over the misuse of government tax plans.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The decision by UniSuper, which manages A$115 billion ($77 billion), means five of Australia\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-york-to-divest-pensions-from-fossil-fuel-companies-2\/\" title=\"New York To Divest Pensions From Fossil Fuel Companies\">largest pension funds<\/a>, managing a total of some A$865 billion, have paused work with PwC, which says it is a \u201cleading adviser\u201d to the sector.<\/p>\n<p>UniSuper said it was concerned by recent events at PwC and the fund had suspended new contracts for the \u201cimmediate future\u201d.<\/p>\n<p>The move comes a day after the \u201cbig four\u201d accounting firm sacked eight partners, including its former chief executive, who had yet to leave the firm, in a bid to \u201cre-earn trust\u201d.<\/p>\n<p>PwC, which was UniSuper\u2019s internal auditor according to the fund\u2019s 2022 annual report, declined to comment.<\/p>\n<p>\u201cWhile 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,\u201d a UniSuper spokesperson said.<\/p>\n<p>Tax authorities revealed in January a former PwC partner who advised the Australian government on anti-tax avoidance laws had shared confidential drafts about the government\u2019s plans with colleagues then used this to drum up business with companies.<\/p>\n<p>The scandal has already cost PwC a string of high profile clients, including the Reserve Bank of Australia, and forced the sale of its lucrative government consulting business for A$1.<\/p>\n<p>($1 = 1.4972 Australian dollars)<\/p>\n<\/p>\n<p> (Reporting by Lewis Jackson; Editing by Alexander Smith)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/pwc-work-suspended-by\/attachment\/file-photo-pwc-logo-is-seen-in-the-lobby-of\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>More News:<\/h3>\n<ul>\n<li>with Joshua Coleman<\/li>\n<li>with Ryan Helfenbein<\/li>\n<li>with Tom Maoli<\/li>\n<li>with A.J. Hurley<\/li>\n<\/ul><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) &#8211; Elon Musk\u2019s Twitter has put a temporary limit on the number of tweets that users can see each day, a move\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) &#8211; Elon Musk\u2019s Twitter has put a temporary limit on the number of tweets that users can see each day, a move\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Martin Coulter (Reuters) &#8211; Meta Platforms plans to launch a Twitter-rivalling microblogging app called Threads, days after Twitter boss Elon Musk attracted\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Martin Coulter (Reuters) &#8211; Meta Platforms plans to launch a Twitter-rivalling microblogging app called Threads, days after Twitter boss Elon Musk attracted\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Australia&#8217;s fourth largest pension fund, UniSuper, has suspended new work with PwC Australia due to the accounting firm&#8217;s involvement in a scandal related to the misuse of government tax plans. This move follows a series of other funds that have also paused their work with PwC Australia since the scandal came to light in January.<\/p>\n","protected":false},"author":66,"featured_media":1963886,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1963885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1963885","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1963885"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1963885\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1963886"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1963885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1963885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1963885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}