What you need to know about the business impact from the Russia-Ukraine war

Addressing urgent economic challenges: Support for members, students and the profession

AICPA & CIMA stand with the people of Ukraine and support governments in implementing economic and trade sanctions. We are deeply saddened by what is happening in Ukraine, and we hope for a swift and peaceful resolution.

Our priority is to provide high-level overviews, tools and resources to our members, students and all accounting and finance professionals. We will continue to monitor the situation and work around the clock to get you information as quickly as possible.

The ongoing conflict has resulted in the career prospects of Ukrainian finance professionals drastically suffering and job prospects are uncertain.

In light of the geopolitical unrest, it’s now free to post job postings that are suitable for displaced Ukrainian nationals in Hungary, Moldova, Poland, Ukraine and Slovakia using the promo code UKRAINE100.

How to post jobs: Visit https://recruiter.mycareer.aicpa-cima.com/ and select the “Simple” job posting and include the keyword ‘Ukraine jobs’ anywhere in the description. Doing this will help candidates find your job postings.

This resource center will provide updates with FAQs, articles, links to vetted charities and information about the legal ramifications from sanctions, including membership renewals and testing.

Please check this website regularly.

Impact on Accounting and Finance Professionals

The war in Ukraine raises the risk of modern slavery
Accountants and finance professionals may not directly encounter modern slavery, but they play a key role in stopping and preventing modern slavery within their organisation and supply chains.

Navigating the Ukraine conflict
Management accountants need to identify and prepare for a wide range of risks as the Ukraine crisis continues. Here are some resources to help.

How to prepare for cyberattacks at a time of heightened threat

A cybersecurity expert describes what accountants should be doing to protect their firms, companies and clients from the increased threat of Russia-backed cyberattacks.

Finance leaders do more than cost cuts to battle elevated input prices

Companies renegotiate terms, diversify sourcing, and focus on adding value and expanding markets to stave off rising input prices in this inflation environment.

What to do if you want to eliminate Russian securities from your investment portfolio
Investors may wish to change holdings to reflect their values following the Ukraine invasion.

How to keep Ukraine donations safe from fraudsters
As donors around the world seek to help besieged Ukrainians amidst Russia's invasion, the spirit of generosity creates a fertile environment for fraudsters.

How ERM and concentric circles can help manage crisis-related risk
Considering emerging risks and interconnected risks can aid in strategic decisions.

Impact on Businesses and Economies

UK urges businesses to bolster online defences
The National Cyber Security Centre said Monday that organizations in the United Kingdom should take steps to shore up their cyber resilience due to a heightened risk of cyberattacks related to Russia’s invasion of Ukraine.

EBA calls on financial institutions and supervisors to provide access to the EU’s financial system
The European Banking Authority (EBA) published a statement addressed to both financial institutions and supervisors to ensure they make every effort to provide access for Ukrainian refugees to at least basic financial products and services.

CGMA Cybersecurity Tool
Risk, response and remediation strategies.

Guidance for Doing Business (Russia, Belarus)

EU sanctions in response to Russia's invasion of Ukraine
Find information regarding a number of packages of sanctions the EU has adopted in response to Russia's military attack against Ukraine.

Interactive list: Economic measures taken against Russia

Numerous sanctions have been levied against Russia since its invasion of Ukraine. Here is an interactive list of measures that are buffeting the Russian economy and could have significant effects throughout the world.

Impacts on Members, Students, Candidates and Customers

Frequently asked questions regarding suspension of services in Russia and Belarus

Press Releases

AICPA & CIMA stand with the people of Ukraine

The Association of International Certified Professional Accountants strongly condemns the actions taken by the Russian government.

AICPA & CIMA announce suspension of services in Russia and Belarus

AICPA & CIMA will suspend indefinitely services in Russia and Belarus.