Accounting companies KPMG and PwC to leave Russia – SABC News

Two of the Big Four accounting firms KPMG and PricewaterhouseCoopers LLP (PwC) said on Sunday that they will no longer have a member company in Russia due to the invasion of the country in Ukraine.

The control and consulting giant KPMG said its company in Russia and Belarus will leave the KPMG network, a move that will affect more than 4,500 partners and staff in Russia and Belarus.

Separately, PwC has agreed that PwC will leave Russia’s network. The company has been operating in Russia for more than 30 years and has 3,700 partners and staff there, it said.

“As a result of the Russian government’s invasion of Ukraine, we have decided that, under the circumstances, PwC should not have a member company in Russia and that PwC Russia will leave the Network,” PwC said.

Sanctions imposed by the UK, the EU and the US against Russia are forcing companies worldwide to consider whether to continue working with Russian customers who are capable.

Earlier Sunday, Britain said it would try to speed up its sanctions process on Monday through new legislation designed to challenge ministers’ restrictions on Russian companies and wealthy individuals.