The sixth sanctions package and its impact on audit and consulting in Russia

As part of the sixth package of EU sanctions, which entered into force on June 3, 2022, a ban was imposed on European consulting and audit companies to provide consulting, audit, and PR services to Russian companies.

Since Friday, June 3, there has been a ban on the territory of the EU on the provision of audit, accounting, and PR services, as well as business, tax, and management consulting services to legal entities, enterprises, and organizations established in Russia, directly or indirectly.

The sanctions do not apply to the provision of services to legal entities, enterprises, or organizations established in Russia that are owned or controlled individually or jointly by companies registered or incorporated in the EU.

By this letter, we would like to inform you that our company Sterngoff Audit LLC does not fall under the ban and will continue to provide audit and tax consulting services for subsidiaries in Russia, as it has been doing so far.

We also want to draw your attention to the fact that all our specialists have not only the certificates of auditors of the new style issued by the SRO, which is part of the IFAC, but also have an international qualification – DipIFR (Diploma in International Financial Reporting) international diplomas issued by ACCA. ACCA is an international association of chartered certified accountants, which was founded in London in 1904.

Our tax consultants have certificates of tax consultants and are members of the Chamber of Tax Consultants, which is a member of the European association of tax advisors, Tax Advisers Europe.

We will be glad to continue our cooperation in the field of auditing according to Russian and international standards and tax consulting for your company in Russia.