PwC Luxembourg signs alliance with EQS Group

Press Release, Luxembourg, 5 October 2022

Today, PwC Luxembourg announces that they have joined forces with EQS since August 2022, to offer a customisable solution for whistleblowing systems in line with the EU Directive 2019/1937 and GDPR.

EQS Group is a leading international cloud provider in the fields of corporate compliance, investor relations and sustainability reporting (ESG tech). PwC Luxembourg announces today that it has signed an alliance with EQS Group to strengthen its advisory services’ offering to clients related to the analysis, design, and implementation of PwC’s whistleblowing solutions and EQS’s software “EQS Integrity Line”. This will support clients in the management of cases of (potential) misconduct and violations. EQS Group and PwC will work closely together to combine EQS' technical expertise with PwC's content know-how in a meaningful and solution-oriented manner. 

The context

The EU Directive 2019/1937 on Whistleblowing should have been transposed into national law by the end of 2021. As we are waiting for the finalisation of the draft law in Luxembourg published in January 2022, it is clear that the requirements of the new law will apply to a vast number of companies and organisations from the private and public sector. The law will require the implementation of new or the update or substitution of existing whistleblowing systems. In anticipation of this change, PwC formed an alliance with EQS to offer managed services together. 

This service offering is for:
  • Organisations whose business falls within the scope of the EU Directive 2019/1937 and the national law transposing it, and/or need to implement internal alert arrangements under other laws and regulations, for instance CSSF Circular 12/552, Circular 18/698 or the Market abuse regulation (Regulation (EU) No 596/2014);  and

  • Organisations that need to follow the EBA Guidelines on internal governance under Directive 2013/36/EU or wish to implement whistleblowing systems voluntarily.

The service is about:
  • The implementation of EQS’s Integrity Line which is a secure and confidential whistleblowing system that allows employees and third parties to report wrongdoings such as corruption, abuse of authority, discrimination, and harassment internally. The software is customisable and helps clients to fully comply with the EU Whistleblowing Directive and the General Data Protection Regulation; and

  • The offering of advisory services by PwC, including: elaboration or update of policies, procedures and trainings, internal communication, integration in existing processes and support in the assessment and/or investigation of incoming alerts. 

Michael Weis, Partner, Forensic and AML/Anti-Financial Crime Leader, says: “An effective whistleblowing system is not only about the creation of a mailbox or hotline, but needs to be properly communicated and handled securely to ensure responsible reporting. Procedures need to detail the handling of reports, clearly outline the protection for reporting persons, but also the consequences for any misuse. With the signing of this alliance, PwC Luxembourg and EQS will collaborate to ultimately develop and conduct projects jointly where EQS provides the software and PwC’s experts support the implementation, in particular in terms of the update/elaboration of policies, procedures, and training. We will also offer a managed services model where consultants assist clients in the assessment of incoming reports and, when necessary, support them with internal investigations.”

EQS Group founder and CEO Achim Weick, says: “We are delighted that PwC Luxembourg has chosen EQS Integrity Line. The proven expertise of PwC's compliance experts combined with the leading whistleblowing system will create real added value for companies. Our clients in Luxembourg are now well prepared for the regulatory challenges ahead.”

Click here for more information on PwC’s whistleblowing services.

Notes to editors

About EQS Group AG

EQS Group is a leading international cloud provider in the areas of corporate compliance, investor relations and ESG.

Thousands of companies across the world use EQS Group’s products to build trust by reliably and securely meeting complex regulatory requirements, minimising risks and transparently reporting on business performance and its impact on society and the environment. EQS Group’s products are bundled in the cloud-based software EQS COCKPIT. This allows compliance processes in the areas of whistleblower protection and case handling, policy management and approval processes to be managed just as professionally as business partners, insider lists and reporting obligations.

Listed companies also benefit from a global newswire, investor targeting and contact management, as well as IR websites, digital reports and webcasts for efficient and secure investor communication. In addition, EQS Group develops software for the management of ESG (environment, social, governance) data, the fulfilment of human rights due diligence obligations along corporate supply chains and for rule-compliant sustainability reporting. EQS Group was founded in Munich in 2000. Today, the group employs around 600 professionals and is represented in the world’s most important financial centres.

About PwC

  1. PwC Luxembourg (www.pwc.lu) is the largest professional services firm in Luxembourg with over 2,900 people employed from 82 different countries. PwC Luxembourg provides audit, tax and advisory services including management consulting, transaction, financing and regulatory advice. The firm provides advice to a wide variety of clients from local and middle market entrepreneurs to large multinational companies operating from Luxembourg and the Greater Region. The firm helps its clients create the value they are looking for by contributing to the smooth operation of the capital markets and providing advice through an industry-focused approach.

  2. At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 155 countries with over 327,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com and www.pwc.lu.

Contact us

Pauline André

Director, Head of Marketing & Communications, PwC Luxembourg

Tel: +352 49 48 48 3582

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