Accounting Firms Taking 'Russian Distancing'... Domestic Firms Also "Joining International Sanctions"
Global Big 4 Accounting Firms Announce Withdrawal from Russian Market
Domestic Firms Also "Reviewing Measures to Join Russia Sanctions"
[Asia Economy Reporter Ji Yeon-jin] Following Russia's invasion of Ukraine, as global companies withdraw from the Russian market, domestic accounting firms have also joined the 'anti-war movement.'
According to industry sources on the 7th, the global Big Four accounting firms recently condemned Russia's invasion of Ukraine and declared their participation in sanctions against Russia, and Korean firms are also considering joining the effort.
PwC Samil Accounting Corporation is withdrawing employees dispatched to high-risk areas related to the war and has decided to support victims of the Ukraine war with donations collected together with employees through its in-house foundation. EY Han Young Accounting Corporation is also reviewing fundraising efforts to help Ukrainian refugees. On the same day, EY released a statement saying, "EY condemns the war in Ukraine and actions violating international law and expresses deep concern over the humanitarian disaster occurring in Ukraine." EY emphasized, "We clearly state that Russia's military invasion targeting Ukraine contradicts EY's core values, and as a global organization, we are responsibly cooperating with governments worldwide to comply with sanctions."
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Earlier, global accounting firms such as KPMG, PwC, and EY issued statements announcing their withdrawal from the Russian market and participation in global sanctions. In particular, John Holt, CEO of KPMG UK, wrote on the social networking service LinkedIn on the 1st, "We will end relationships with Russian clients to comply with international sanctions and new laws." An employee of a domestic accounting firm said, "As the company actively participates in the global firm's anti-Russian war movement, I have felt the strongest sense of loyalty to the company since joining."
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