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Big 4 firm taps into ‘mature’ market with new service line

Big 4 firm taps into ‘mature’ market with new service line

PwC has announced a new certification and compliance service offering, as it seeks to expand into the “relatively mature” quality assurance market.

Tax&Compliance Jotham Lian 19 March 2018

The new service, which will sit within the firm’s Assurance business, offers certification against International Organization for Standardization (ISO) standards, compliance audits for organisations with multiple operating sites and training in ISO management systems.

Earlier this year, PwC received accreditation from Joint Accreditation System of Australia and New Zealand (JAS-ANZ) to certify organisations against Quality, Environmental and Occupational Health & Safety ISO standards.

PwC assurance managing partner, Matt Graham, said feedback from clients on the complexity of obtaining certification spurred it towards building its new offering.

“With trust in business in decline, organisations worldwide are looking at how they can reverse this trend, demonstrate quality and build confidence in their products, services and systems. Demonstrating compliance with industry, global and local standards is one of the ways they can do this,” said Mr Graham.

“We’ve spent the past year building our new offering based on this feedback, so we can offer a more streamlined, consistent and transparent experience that not only provides confidence in results, but also data-driven insights to help improve business performance.”

“Ultimately we want to flip the idea that certification and compliance is simply about being handed a report card from an auditor on what needs fixing. We want to engage our clients in conversation around interesting findings we’ve discovered about their business that could help their growth and efficiency.”

Despite the mature market space, Mr Graham said PwC was optimistic on the growth of the business, in light of the growing number of ISO certificates issued globally over the past few years.

“Despite us entering a relatively mature market, certification and compliance will always be relevant for our clients because of the critical role it plays in their operations, strategy and their reputation,” said Mr Graham.

“But what’s key for boards and executive teams is that these processes go beyond just a tick of approval – and provide them both with confidence and insights. That’s our point of difference, and it’s a compelling one.

“I am really excited about what this opportunity means for the firm as we start to build our presence in part of the assurance market that we have not historically tapped into.”

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Big 4 firm taps into ‘mature’ market with new service line
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