International companies are continuing to disengage with Russia following its ongoing invasion of Ukraine. This includes number of global consulting firms, including the four biggest worldwide, which are Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers.
Deloitte announced on March 7 that it would stop operating in Russia and Belarus.
The firm said:
While we know this is the right decision, it will have an impact on Deloitte’s [approximately] 3,000 professionals located in Russia and Belarus. Like others, we know our colleagues in Russia and Belarus have no voice in the actions of their government."
“We will support all impacted colleagues during this transition and do all we can to assist them during this extremely difficult time.”
EY, otherwise known as Ernst & Young, also said it would remove its Russian practice from its official global network, but allow it to “continue working with clients as an independent group of audit and consulting companies.”
“EY in Russia is a team of 4,700 professionals working in 9 cities of the country. The company has been operating in the Russian market for more than 30 years,” it said.
Consulting and accounting firm KPMG International said that its “Russia and Belarus firms will leave the KPMG network.”
“KPMG has over 4,500 people in Russia and Belarus, and ending our working relationship with them, many of whom have been a part of KPMG for many decades, is incredibly difficult,” the company said.
“This decision is not about them – it is a consequence of the actions of the Russian Government. We are a purpose-led and values-driven organization that believes in doing the right thing.”
PricewaterhouseCoopers (PwC) is also planning to break away from its Russian business.
“As a result of the Russian government’s invasion of Ukraine we have decided that, under the circumstances, PwC should not have a member firm in Russia and consequently PwC Russia will leave the network,” the “Big Four” consultancy said in a statement.
“Our main focus at PwC continues to be doing all we can to help our Ukrainian colleagues and support the humanitarian efforts,” it added.
“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 wellbeing of our 3,700 colleagues in PwC Russia.”
Another big firm, Accenture, is also discontinuing its business in Russia as it “stands with the people of Ukraine,” it said.
The firm announced the move last week in a statement, where it thanked its “nearly 2,300 colleagues in Russia for their dedication and service to Accenture over the years.”
“We will be providing support to our Russian colleagues,” the company added.