Azerbaijan, Baku, May 1 /Trend S.Isayev, T. Jafarov/
The exit of international accounting companies from Iran will badly affect country's foreign trade, economic expert Mehrdad Emadi told Trend.
Emadi added that such a move will influence large industrial and commercial companies, which are still present in the Iranian market.
Several days ago, international companies Grant Thornton, RSM, and Crowe Horwath have announced that they were ending their business in Iran.
In particular, Grant Thornton, a prominent U.K.-based global accounting network, has this month taken the responsible action of terminating its relationship with the Iranian firm Rymand & Co.
RSM, the global accounting network and the U.S.'s Crowe Horwath have also said that they would end their relationships with their respective partner Iranian firms, Dayarayan Auditing & Financial Services and Hoshiyar/Behmand & Co.
Mehrdad Emadi said that a large number of foreign companies were in Iran because they could receive legal certificates from the International companies for their contracts, their incomes and expenses, as well as for presenting annual balance sheets to their financial centers.
"These companies could benefit from official assessments of these international accounting companies for preparing annual balance sheets for parent companies, unless they would suffer huge costs without having official assessment of the international accounting companies," Emadi explained.
The expert added that the next consequence could be squeezing Iran's foreign trade, which at the current time suffer from international sanctions.
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