[Updated March 10, 2022: 6:28pm ET]
More of the world’s largest accounting firms have announced their withdrawal from Russia and Belarus over Moscow’s invasion of Ukraine. The Big Four firms of PricewaterhouseCoopers (PwC), KPMG, Ernst & Young (EY), and Deloitte, as well as other large international firms including Grant Thornton and BDO LLP.
On Thursday (March 10), the Association of International Certified Professional Accountants and the Chartered Institute of Management Accountants also announced they were suspending services in Russia and Belarus.
“We wholeheartedly stand with the people of Ukraine and join many voices around the world in calling for peace,” the organizations said in a joint statement. “Our thoughts are with members, students and staff devastated by the Russian military invasion. We are suspending indefinitely the sale and delivery of services to Russia and Belarus, including the provision of in-market membership activities for AICPA and CIMA members and the following CIMA examinations: Professional Qualification; Certificate in Performance Management in Russian; Advanced Diploma in Performance Management in Russian; and Certificate in Business Accounting. We acknowledge this will affect many members and students who are caught up in the situation.”
Also on Thursday, it was announced that Grant Thornton’s member firm in Russia, FBK, will leave the Grant Thornton network. ” We are shocked and saddened by the events in Ukraine and our focus at Grant Thornton continues to be on supporting our colleagues at this very difficult time,” the firm said in a statement. “Grant Thornton Ukraine is receiving offers of support from Grant Thornton firms around the world and our thoughts remain with our colleagues and their families in Ukraine at this distressing time.”
“We all continue to be shocked and horrified by the senseless war that the Russian government is inflicting on Ukraine and its people,” PwC’s global chairman Bob Moritz said in a statement. “Our main focus has been helping our Ukrainian colleagues and supporting the humanitarian efforts to aid the people of Ukraine.” But that was only part of PwC’s responsibilities, Moritz said.
“We have decided that, under the circumstances, PwC should not have a member firm in Russia and consequently PwC Russia will leave the network,” he said.
“We are also committed to working with our colleagues at PwC Russia to undertake an orderly transition for the business, and with a focus on the well-being of our 3,700 colleagues in PwC Russia.”
KPMG, headquartered in Netherlands, also announced it would withdraw from Russia and Belarus.
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Tags: Accounting
