Mazars to exit Russia

Mazars has confirmed that it will officially pull out of Russia, becoming the latest major accountancy firm to do so.

The group had previously decided in March to maintain its Russian team “for the time being”, to help international clients with operations “navigate a difficult and fast-evolving regulatory environment”.

At that time, it had also pledged to regularly reassess its position as the situation evolved.

In a statement on its final exit from the country, the firm said: “The devastating war in Ukraine continues, increasingly creating human tragedies and political and economic uncertainty.

“While actively supporting our Ukrainian staff in the war – ensuring full financial support and extending humanitarian aid, transport and accommodation – we have been conscious and willing to act responsibly towards our people and clients in Russia.” 

It added: “Today, considering the current context and looking to the longer term, we decided to stop all Mazars activities in Russia. This decision will be implemented in the next few weeks, in compliance with applicable laws. 

“We are exploring exit options which ensure, to the greatest possible extent, a seamless and quality transition for our clients, and a sustainable path for our Russian partners and staff.”