Sustainability in the Industry

Auditing and Consulting

Impacts, Risks and Opportunities

Sustainability in Auditing and Consulting

Companies that approach sustainability seriously, holistically and systematically need a secure data basis and a well-founded, comprehensive strategy. Legal advice firms help companies to cope with increasing regulation in a legally secure manner. Auditors ensure that measured and reported sustainability performance is accurate and that risks are identified at an early stage. External consultants support companies in analyzing key sustainability issues, developing strategic areas of action and goals, and planning concrete measures as part of a roadmap.

Business models are analyzed for transformation opportunities, change processes are accompanied with managers, employees and stakeholders, and effective digital measurement and control systems are set up. Overall, external experts provide inspiration and drive successful transformation in companies. As a knowledge-intensive, business-related industry, business service providers are now the fourth most important area in the commercial economy. Their specialized expertise not only drives climate protection and sustainability management in companies, but also reporting and sustainability communication.
Climate neutrality, circular economy and ESG governance now determine the long-term economic success of companies. Business service providers help their customers to become more sustainable, innovative and future-proof – and drive transformation through their own actions. In doing so, they also reflect on their own activities in terms of sustainability: just a few years ago, intensive travel and premium company cars as a status symbol dominated everyday life. With Generation Z, cultures and value systems are also changing towards sustainability, sustainable mobility and flexible and emission-saving remote work models. Controversial services such as advice on cost minimization in purchasing at the expense of environmental and social standards in the supply chain are no longer carried out without reflection.

The industry is working on its own transformation to expand the previously often purely financial dimension in services to include ecological and social dimensions. It includes, for example, business consulting, legal advice, auditing and tax advice, accounting and public relations advice.

Industry Materiality

Key Fields in the Industry 

Sustainability is different by industry. Learn key material transformations fields in Auditing and Consulting.

Climate

Resources

Value Chain

 

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EU NACE Classification 

Industry NACE Classes

Unsure if the industry is the right one? A comparison with the EU’s granular NACE classification Rev. 2.1 provides clarity.

Included NACE classes in the industry

N 69.1 Legal activities
N 69.10 Legal activities
N 69.2 Accounting, bookkeeping and auditing activities; tax consultancy
N 69.20 Accounting, bookkeeping and auditing activities; tax consultancy
N 70.1 Activities of head offices
N 70.10 Activities of head offices
N 70.2 Business and other management consultancy activities
N 70.20 Business and other management consultancy activities

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