During FY20, PwC has delivered an outstanding performance across the service lines of this sector, despite difficult market conditions created by the pandemic.
In a volatile environment, our non-financial services teams remain very solicited as our clients continue to accelerate their digital transformation despite COVID-19.
In Audit, we remain the market leader, with a growing portfolio of companies active in various industries, privately or publicly held. Our relentless focus on innovation and digital audit tools has delivered additional value and insights to our clients, as we continue to adjust our audit methodology to their digital investments. Our teams are also constantly upskilled to deliver the full potential of these tools.
In Advisory, the need for digital transformation continues to bring large scale IT projects to our consultants, in dimensions as diversified as customer relationship management, finance transformation, e-Procurement, HRIS, ERP implementations or transitions into the cloud. We are also proud to have one of the leading cybersecurity teams inside our firm, and that team is more and more solicited in the current context.
Additionally , PwC continues to promote the early adoption of emerging technologies (AI, robotics, biometrics, blockchain, etc.) and has launched the AI Lab to help our clients, including the Government, accelerating their transformation.
Our Tax practice primarily focuses on accompanying our international and local clients in an ever-evolving tax environment and legislation. On these points, our Tax practice assisted clients in the design (and set up) of their financing, repatriation and corporate rationalisation strategies (especially in the current uncertain environment leading to more attention being paid to cost management) as well as in navigating through the new Luxembourg legislation that has introduced e.g the EU directives ATAD 1, ATAD 2 or DAC 6. Digitalisation also significantly affects the tax reporting framework, and our Tax experts increasingly team up with technology champions to bring automation to the tax function of our clients.
Finally, PwC Luxembourg has a market- leading team of experts advising the Public Sector to design and execute a complex agenda. We advise many public institutions in areas such as digitalisation, public financial instruments and policies, economic development, upskilling programs, management of complex projects, etc. As a responsible player of the Luxembourg ecosystem, our Public Sector team also delivered pro-bono assistance to support the government managing the Covid-19 crisis.