“In early 2016 KPMG in the CIS adopted and implemented policies, which restrict operations in conflict zones. Amongst others, the policies prohibit its various regional member firms to contract with entities in Nagorno-Karabakh,” said the message.
Earlier, it was reported that KPMG audits a number of banks in the occupied territories of Azerbaijan.
The conflict between the two South Caucasus countries began in 1988 when Armenia made territorial claims against Azerbaijan. As a result of the ensuing war, in 1992 Armenian armed forces occupied 20 percent of Azerbaijan, including the Nagorno-Karabakh region and seven surrounding districts.
The 1994 ceasefire agreement was followed by peace negotiations. Armenia has not yet implemented four UN Security Council resolutions on withdrawal of its armed forces from the Nagorno-Karabakh and the surrounding districts.
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