NEW YORK (CNN/Money) - Two big-name consulting firms, Accenture and Monday, have decided to move their finance and trademark operations to Switzerland in an apparent effort to reduce taxes, a newspaper reported Wednesday.

Several U.S. companies have moved headquarters to Bermuda in order to avoid paying taxes on money earned outside the United States, according to the Wall Street Journal. Accenture, formerly Andersen Consulting, and Monday, in the process of separating from PriceWaterhouseCoopers, already moved their parent companies to Bermuda and operating divisions to Luxembourg in an apparent attempt to avoid some taxation, the report said.

Some members of Congress, who claim the only reason to split a company between countries is for tax reporting purposes, have proposed bills to penalize companies that try to do so, the Journal said. The companies have said they plan to continue paying taxes on money they make in the United States.

A spokeswoman for Accenture, which as Andersen Consulting was based in Chicago but managed by Swiss-based Andersen Worldwide, contends the company never was a U.S. corporation, the report said.

Accenture has many partners worldwide and chose "culturally neutral" countries in which to house parts of its business, Accenture spokeswoman Roxanne Taylor told the Journal.

Monday is in its quiet-period before its initial public stock offering, meaning it cannot speak to the news media, but people familiar with the situation said the company's structure will be similar to that of Accenture, the report said.