PwC and KPMG have severed ties with their businesses in Russia and Belarus, becoming the first Big Four accounting firms to exit the countries since the invasion of Ukraine.
The moves are the most significant departures from Russia by global professional services groups since the war in Ukraine started last month and are likely to increase pressure on their peers, Deloitte and EY, to follow suit.
“Everyone knows the game is up in terms of being able to retain a network firm in Russia,” said an insider at one Big Four firm.
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