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PwC, KPMG Announce Departure From Russia Over War in Uk...

Business Maverick

Business Maverick

PwC, KPMG Announce Departure From Russia Over War in Ukraine

The logos of the Big Four auditing firms (from left): KPMG, Deloitte, EY, and PwC. (Photos: Sean Gallup / Getty Images | EPA / Katia Christodoulou | EPA-EFE / Hayoung Jeon | Jack Taylor / Getty Images)
By Bloomberg
07 Mar 2022 0

PricewaterhouseCoopers LLP is set to exit Russia after 30 years of doing business there, and KPMG LLP is pulling out of Russia and Belarus in response to the war in Ukraine. 

In separate statements Sunday, PwC said PwC Russia will leave the global network, and KPMG announced similar measures for its business. PwC has 3,700 partners and staff in Russia, while its rival has more than 4,500 people in Russia and Belarus.

“They did not ask for this senseless war,” the PwC note said. PwC member firms outside Russia will exit any work for Russian entities and individuals subject to sanctions.

KPMG had previously announced that it would cut ties with certain clients subjected to sanctions.

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