Accounting firms PwC and KPMG exit Russia and Belarus, becoming the first of the Big Four to leave the country after the Kremlin's invasion of Ukraine, FT reports.

PwC said it was cutting ties with its Russian subsidiary, which has 3.700 partners and employees in 11 offices in the country, as well as 25 offices in Belarus. Businesses will continue to operate as stand-alone organizations with no formal connection to the global brand.

The new independent PwC offices in Russia and Belarus will be renamed and will be able to continue to work for local clients, as well as serve international companies operating in these countries, said a person with direct knowledge of the arrangements.

KPMG said it was "incredibly difficult" to end a partnership with its 4.500 employees in Russia and Belarus. "This decision is a consequence of the actions of the Russian government," KPMG said in a statement.

Earlier, consulting companies Accenture, McKinsey, Boston Consulting Group and Bain & Company suspended work with Russian clients.

These steps are likely to increase pressure on their colleagues, Deloitte and EY, to follow suit, according to the publication. Deloitte recently announced that it was conducting an analysis of its presence in Russia, while the company did not report its results. EY in the first days of the military operation condemned the actions of the Russian authorities.