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November 27, 2022

Russia invasion of Ukraine

For Now, Mazars Seems to Be Staying Put In Russia

You can add Mazars to the list of global accounting firms with offices in both Ukraine and Russia that have denounced Russia’s invasion of Ukraine and pledged to support their colleagues in Ukraine—financially and via other means. But unlike PwC, KPMG, EY, Deloitte, Grant Thornton, and BDO, Mazars doesn’t seem to be planning a move […]

BDO Says It Is No Longer Doing Business In Russia and Belarus

The latest top accounting firm to turn its back on Russia and Belarus is No. 5 on your global scorecard, BDO, which said in a statement on Tuesday that “no BDO firm will work with any sanctioned Russian and Belarussian entities including the Russian and Belarussian government, Russian and Belarussian state-owned enterprises and sanctioned individuals […]

Here Is What PwC Russia and EY Russia Said About Being Ousted From Their Big 4 Firm’s Global Network

The dust hadn’t even settled before PwC Russia and EY Russia released statements on their respective websites about being told they were no longer part of the global networks of PwC and EY due to Russia’s war with Ukraine. The statements from PwC Russia and EY Russia are pretty much what you’d expect—acknowledging they were […]

Deloitte Joins the Rest of the Big 4 to Cut Ties With Russian Clients

Well that’s that. All Final Four Horsemen of the Accounting Apocalypse have now announced they are abandoning their operations in Russia in response to Vlad Putin’s war against Ukraine. PwC and KPMG announced on Sunday they were cutting ties with their member firms in Russia, EY released a similar statement earlier this morning, and Deloitte […]

EY Joins Big 4 Exodus From Russia

In the span of 24 hours or so, we’ve gone from the Big 4 practically saying nothing about separating themselves from their member firms in Russia over the country’s attack on neighboring Ukraine to three of the four—PwC, KPMG, and now EY—saying their affiliates in Russia would be leaving their global networks. EY released the […]

PwC Ukraine’s Forensic Leader OK After His Home Was Hit By a Russian Missile

One of my connections on LinkedIn shared this post from Andriy Tretyak last week. Tretyak is the forensic leader at PwC Ukraine, and the photo above is the building where he lived in Kyiv, which was struck by a Russian missile. Fortunately Tretyak was able to escape before the missile slammed into the residential building, […]

Reports: PwC Is Withdrawing From Russia and Belarus (UPDATE)

[UPDATE] PwC Global Chairman Bob Moritz released this statement a little over an hour ago confirming that PwC is pulling out of Russia: We all continue to be shocked and horrified by the senseless war that the Russian government is inflicting on Ukraine and its people. As we galvanized to find ways in which we […]

KPMG Is Pulling the Plug On Its Operations In Russia and Belarus

A source just sent us this statement from KPMG International that says its member firms in Russia and Belarus will be leaving the KPMG network: “We believe we have a responsibility, along with other global businesses, to respond to the Russian government’s ongoing military attack on Ukraine. As a result, our Russia and Belarus firms […]

Ex-Big 4 Partner On Why the Big 4 Firms Should Pull Out of Russia: ‘It’s the Right Thing to Do and You Know It’

I was scrolling through LinkedIn last night and came across this post by John Robinson, a former partner at both EY and Deloitte, who gave six reasons why the Big 4 should cut ties with their Russian member firms. He makes some pretty interesting points, and I was wondering if you guys agree or disagree […]

Big 4 Firms Condemn Russia’s Invasion of Ukraine, But Will They Sever Relationships With Any Russian Clients? (UPDATE)

[Updated with additional statement from Deloitte Global.] When Deloitte’s global HQ posted a statement on its website on March 1 (see below in original post from Tuesday), the firm said it had “suspended business operations and client service in Ukraine as we focus on taking care of our people and their loved ones.” But on […]

Grant Thornton Drops Its Russian Affiliate Over Conflict In Ukraine

In a two-paragraph statement posted on its website yesterday, Grant Thornton International said that the firm’s affiliate in Russia, FBK Grant Thornton, is no longer a member of the exclusive GT club: In light of the conflict in Ukraine, FBK, the Grant Thornton member firm in Russia, is leaving the network with immediate effect. Like […]