IMF's Georgieva sees 'darkening' outlook for global economy, rising recession risks
Oct 06, 2022
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.
Featured Resources
Featured Resources
Impact on Accounting and Finance Professionals
CPA cybersecurity checklistUse 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 professionalsSafeguarding your client’s data is paramount. Use these laws and guidelines to help you help your clients.
Navigating the Ukraine conflictManagement 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 threatA 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 pricesCompanies 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 fraudstersTaking 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 2021An expanded tool for the risk leader
Enterprise Risk Management insights for the finance risk leaderEnterprise 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 QuestionsSearch questions regarding financial sanctions
Ukraine aid eligible for leave-based donations programshe 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 RussiaA number of US states have taken their actions designed to divest and distance themselves from Russia.
Enterprise Risk Management insights for the finance risk leaderEnterprise Risk Management insights for the finance risk leader
Business leaders adjust to Ukrainian conflict's economic shocksRussia'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 riskConsidering 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 RussiaNumerous 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 InformationThe 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 UkraineThe Association of International Certified Professional Accountants strongly condemns the actions taken by the Russian government.
AICPA & CIMA announce suspension of services in Russia and BelarusAICPA & CIMA will suspend indefinitely services in Russia and Belarus.
US sanctions ban provision of accounting, consulting services to RussiaExpanded 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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