Regulations change. Technology vaults forward. As reliance on outsourcing grows, so does the need for transparency. All the more so in a world where information jumps from one set of eyes to millions in seconds. But that transparency must be coupled with credibility.
PwC's Stephen DelVecchio discusses today's reporting needs that go beyond financial attestation, and the importance of transparency as reliance on outsourcing by companies increases.
Meeting Expanding Needs
Today’s reporting needs go well beyond financial attestation. It’s imperative to have confidence in your organization’s policies, controls, processes and security. It’s equally critical to both have and inspire the same confidence in suppliers, vendors and partners. And that trust can translate into a significant competitive advantage, improving efficiencies and reducing costs.
Firming Up Market Credibility
PwC’s Third Party Assurance (TPA) practice can provide the rock-solid verification your company, customers, suppliers, investors and regulators require. This interdisciplinary team brings a precise focus to financial and nonfinancial assurance needs, blending industry-specific skills in technology, regulatory compliance and business processes with financial and accounting expertise.
Using non-financial-statement reports, including SAS70/SSAE 16, agreed upon procedures and customized attestations, our TPA team delivers strong support in these key areas:
Business network and supply chain risk management – reducing and managing the risk of supply chain disruption.
Cloud computing – providing attestation focusing on the outsourcing of all or part of your company’s IT to third parties.
Contract compliance – mitigating risk and realizing incremental revenue by analyzing compliance with licenses and other agreements.
Cost / expense verification – uncovering and ending financial leaks across the revenue cycle.
Digital transformation – fully adapting your company’s business model to meet consumers’ digital expectations.
Outsourcing – helping evaluate, execute and manage outsourcing opportunities and commitments.
Privacy and security – establishing sound, stable companywide practices.
Regulatory compliance and reporting – achieving more effective compliance and greater transparency at optimal cost.
Sustainability, climate change, and carbon emissions – mitigating risk through sustainability strategies that dovetail with strategic objectives.
XBRL – bolstering risk management with sophisticated systems, better information and straight-through reporting.
We’re ready to help you convert risks into opportunities.