Two of the 'Big Four' accounting firms pull out of Russia

KPMG and PricewaterhouseCoopers both said Sunday they would end their relationships with their Russia-based member firms. KPMG said it was also pulling out of Belarus.

A view of a damaged building, which is said was hit by recent shelling, in Ukraine's second-biggest city of Kharkiv. (Photo | AFP)

NEW YORK: Two of the so-called Big Four accounting firms are pulling out of Russia over its war in Ukraine.

KPMG and PricewaterhouseCoopers both said Sunday they would end their relationships with their Russia-based member firms. KPMG said it was also pulling out of Belarus.

KPMG International said in a statement it would be “incredibly difficult” to have its Russia and Belarus firms leave the network. KPMG has more than 4,500 employees in the two countries.

PricewaterhouseCoopers said it has 3,700 employees at its PwC Russia firm and is working on an “orderly transition” for the business.

The two other Big Four companies – Deloitte and Ernst & Young – didn’t immediately return requests for comment Sunday.