Accounting FirmsLatest News

BDO cuts ties with Russia and axes Belarusian arm

BDO is providing financial assistance, transportation, accommodation, safe passage and ongoing employment, where possible, for the affected employees

BDO has announced that it is removing BDO Belarus from its global network and that none of its firms will work with any sanctioned Russian and Belarussian entities as a consequence of the ongoing situation in Ukraine.

This includes the Russian and Belarussian Government, Russian and Belarussian state-owned enterprises and sanctioned individuals.

BDO said these changes are effective immediately, while working to support its clients in fulfilling legal obligations and commitments.

However, the firm added that the implementation may take longer to ensure an “orderly transition”. 

The company is also providing financial assistance, transportation, accommodation, safe passage and ongoing employment, where possible, for the affected employees.

BDO announced its priority continues to be the safety of its colleagues and their families in Ukraine.

Meanwhile, BDO does not have a network firm in Russia as the former Russian member firm operates independently under the name of Unicon.

BDO said: “The humanitarian crisis in Ukraine continues to dominate our thoughts and actions.

“Since the outset, we have stated that we deplore the violation of international law and military aggression in all its forms. That continues to be our position and we hope that the loss of life and livelihood soon ceases and that all parties come together to establish an enduring peace.”

Show More
Back to top button