Three Top 25 Firms Drop Ties in Iran

An advocacy group contends that it has persuaded global accounting firm network RSM International to sever its relationship with an Iranian firm, Dayarayan Auditing & Financial Services in Tehran, as of April 30, the Indianapolis/St. Paul Business Journal reported. In addition, Grant Thornton said that it was terminating its relationship with Rymand & Co, an Iranian accounting firm, and said it would not conduct further business in Iran. Crowe Horwath said it would cut ties with Hoshiyar/Behmand & Co., the Financial Times reported.

The United States has prohibited almost all business transactions with Iran to pressure the nation into abandoning its nuclear program and support of terrorism. United Against Nuclear Iran (UANI), in a letter to RSM said, “RSM should not enable the provision of such vital professional and financial services to the Iranian government, sanctioned entities and foreign companies in Iran at a time when the international community is working to economically isolate the regime in response to its nuclear program, support for terrorism and gross human rights violations.”

The Big Four accounting firms pulled out of Iran in 2010. Many international businesses have left Iran in recent years amid the strict economic sanctions.