PwC and KPMG are two of the world's four largest accounting firms

Two of the world's largest accounting firms are withdrawing from Russia

LONDON: Two of the world's largest accounting firms have pulled out of Russia due to Moscow's invasion of Ukraine.

PricewaterhouseCoopers (PwC) said it had decided not to have a member company in Russia.

"We remain shocked and horrified by the futile war waged by the Russian government on Ukraine and its people," Bob Moretz, the company's global president, said in a statement.

"Our main focus is currently on helping our Ukrainian colleagues and supporting the humanitarian efforts to help the people of Ukraine," he added.

But this is only part of PwC's responsibilities, Moretz added.

The Netherlands-based KPMG has also announced that it is withdrawing from Russia and Belarus.

"We believe we have a responsibility, along with other global companies, to respond to the military attack launched by the Russian government on Ukraine," the company said.

It is noteworthy that KPMG has more than 4,500 employees in Russia and Belarus and said in a tweet, "It is incredibly difficult to end our working relationship with them, many of whom have been part of KPMG for many decades."

PwC and KPMG are two of the world's four largest accounting firms, along with Deloitte and Ernst & Young.(dpa)