PwC sells governance software

PwC sells governance software

As pressure grows for the big firms to restrict the services offered to clients, PricewaterhouseCoopers in the US, has sold the rights to software that helps companies comply with US corporate governance laws.

Link: In-depth: Sarbanes-Oxleyh

PwC is selling Internal Controls Workbench compliance software to OpenPages, a consultancy, for an undisclosed sum. OpenPages will assume support services for 375 PwC clients, the Financial Times reported.

Lynn Edelson, PwC partner in charge of the firm’s Sarbanes-Oxley taskforce, said: ‘The sale of ICW is consistent with PwC’s focus on our core assurance, tax and advisory business.’

The sale, to be announced today, comes in the face of new regulations passed under the Sarbanes-Oxley Act aimed at preserving the integrity and independence of the audit by curtailing many consultancy services.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource