Please ensure Javascript is enabled for purposes of website accessibility
November 27, 2022

Russia Will See Your Sanctions and Raise You a Ban on the Big 4

On Tuesday, some parliamentary officials called for a law barring the world's top accounting firms from "aggressor countries" from doing business in the country after officials opened a health probe into McDonald's last week, and rolled out possible trade restrictions on Monday on fruit from Europe and chicken from the U.S. for alleged sanitary reasons.

"The government of the Russian Federation, to protect constitutional order, national defense and state security, and to protect the domestic market and the development of the national economy should be given the right to approve the list of aggressor countries," read an explanatory note that is to accompany the bill, the pro-Kremlin Izvestia newspaper reported Tuesday.

The bill, which hasn't yet been submitted to the State Duma, or lower house of parliament, would specifically target companies that provide audit services. If passed, that would make it impossible for the Big Four American accounting firms Deloitte & Touche, KPMG, PricewaterhouseCoopers and Ernst & Young among others, to continue doing business in Russia, the paper reported. [WSJ]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

help wanted sign

What Shortage? EY Is Supposedly Hiring 220,000 People This Year

According to the horse’s mouth, EY is buried under millions and millions of resumes and on track to hire nearly a quarter of a million people this fiscal year. Bloomberg: EY is on track to hire around 220,000 people in the twelve months to July 2023, having achieved its highest growth in nearly two decades […]

an empty desk

EY Survey Ironically Finds the Four-Day Workweek is the New Standard at Many Companies

According to the latest EY Future Workplace Index survey, many companies are moving toward a four-day workweek thanks in part to competition for talent. The survey reveals surprisingly optimistic attitudes from company leadership on real estate investment despite economic tightening, says the press release, a sign that employers want you back in the office at […]