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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.

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

CPA cybersecurity checklist

Use this resource to find a list of steps your firm can take to keep your firm from being as easy target.

Professional responsibilities in data security for tax professionals

Safeguarding your client’s data is paramount. Use these laws and guidelines to help you help your clients.

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

How to keep Ukrainian donations safe from fraudsters

Taking the time to research charities can help donors make certain that their donations are being used for the intended purpose.

CGMA cybersecurity tool: Risk, response and remediation strategies 2021

An expanded tool for the risk leader

Enterprise Risk Management insights for the finance risk leader

Enterprise Risk Management insights for the finance risk leader

Accounting for and auditing of Digital Assets practice aid (PDF)

The Digital Assets Working Group developed a practice aid, which includes vital information for professionals on how to account for and audit digital assets.

U.S. Department of the Treasury – Frequently Asked Questions

Search questions regarding financial sanctions

Ukraine aid eligible for leave-based donations programs

he IRS provided guidance Thursday on the tax treatment of cash payments employers make under a leave-based donation program to aid victims of the further Russian invasion of Ukraine, which began Feb. 24, 2022.

Impact on Businesses and Economies

US states divesting from Russia

A number of US states have taken their actions designed to divest and distance themselves from Russia.

Enterprise Risk Management insights for the finance risk leader

Enterprise Risk Management insights for the finance risk leader

Business leaders adjust to Ukrainian conflict's economic shocks

Russia's invasion of Ukraine this week sent shock waves around the world. Accounting and finance professionals are now bracing themselves for economic shocks that are sure to follow.

How ERM and concentric circles can help manage crisis-related risk

Considering emerging risks can aid in strategic decisions. Organizations with well-executed, integrated ERM programs are better prepared to handle emerging risk related crises.

Guidance for Doing Business (Russia, Belarus)

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.

Office of Foreign Assets Control - Sanctions Programs and Information

The Office of Foreign Assets Control ("OFAC") of the US Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the proliferation of weapons of mass destruction, and other threats to the national security, foreign policy or economy of the United​ States.

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.

US sanctions ban provision of accounting, consulting services to Russia

Expanded U.S. government sanctions against Russia in response to the war in Ukraine include a ban on accounting and management consulting services by U.S. citizens.

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