Russia’s Evraz says auditor EY terminates services

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Updated: Nov 9, 2022, 13:20 UTC

(Reuters) - Russia's Evraz said on Wednesday its auditor Ernst & Young has terminated services due to the sanctions imposed on the steel maker following the Russia-Ukraine conflict, highlighting the plight of Russian firms in finding auditors.

Smoking funnels of Nizhny Tagil metallurgical combinate NTMK owned by EVRAZ group are seen in Nizhny Tagil

(Reuters) – Russia’s Evraz said on Wednesday its auditor Ernst & Young has terminated services due to the sanctions imposed on the steel maker following the Russia-Ukraine conflict, highlighting the plight of Russian firms in finding auditors.

Evraz also said it has been unable to find a UK audit firm or a UK auditor willing to replace Ernst & Young.

Britain sanctioned Evraz in May in response to Russia’s invasion of Ukraine.

(Reporting by Aby Jose Koilparambil in Bengaluru; editing by Uttaresh.V)

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