17:48 The largest accounting firms no longer cooperate with Russia –

17:48 The largest accounting firms no longer cooperate with Russia –

Major accountancy firms EY and Deloitte are also withdrawing from Russia because of the Russian invasion of Ukraine. In doing so, they follow industry peers PricewaterhouseCoopers (PwC) and KPMG, and all the so-called ‘big four’ in the accounting world are turning their backs on Russia.

Deloitte said in its statement it will no longer operate in Russia and Belarus, which have about 3,000 employees in total. This means that the company’s divisions in these countries are cut off from the global network of offices.

A similar divorce procedure has also been started at EY. The company employs more than 4,700 people in its operations in Russia. EY also says it will no longer work for the Russian government, state-owned companies, or individuals or entities that have imposed sanctions elsewhere in the world.

KPMG has more than 4,500 employees in Russia and Belarus and has previously said it was incredibly difficult to end a business relationship with them, many of whom have been with KPMG for decades.

PwC has approximately 3,700 employees in Russia. “Given the circumstances, we have decided that PwC should not have any business in Russia,” CEO Bob Moritz said Monday. Accordingly, PwC Russia will exit the network.”

Source: NU