ICAEW and Association of Chartered Certified Accountants (ACCA) have called on the government to offer exemptions on the rules banning British accounting, management consulting, and public relations firms from working with Russian clients.

ICAEW, whose members include the Big Four firms Deloitte, EY, KPMG, and PwC, stated that the sanctions were ‘rightly imposed’ and ‘demonstrate to the Russian elite the political and financial costs of their aggression against Ukraine’.

However, the group added that the legislation and guidance implementing the ban must make clear which services advisers are allowed to provide and that they should still be permitted to help clients meet legal requirements.