PwC Switzerland Partners Smart Contract Auditing Team ChainSecurity

Smart contract auditing team ChainSecurity partnered with the Swiss branch of Big Four auditing firm PwC to enhance the services the global auditor provides.

According to a press release published by the firm on Jan. 5, PwC hopes that, with ChainSecurity’s team, the firm will become “the world’s leader in smart contract auditing.” PwC Switzerland and Europe head and partner of risk auditing Andreas Eschbach said in an email to BnC: As an integral part of PwC Switzerland, the team of ChainSecurity will focus on accelerating PwC Switzerland blockchain audits, including technical audits of smart contracts and blockchain platforms as well that risk hedging services for customers with crypto assets.

PwC’s manager and leader of the team of external communications Konradin Krieger explained further to BnC that no actual acquisition took place. He explained that “the core delivery and development teams from ChainSecurity joined PwC Switzerland.”

Krieger noted that Chainsecurity COO Matthias Egli and CTO Hubert Ritzdorf will be leading the firm’s Smart Contract’s Assurance team together. He also said: We expect market demands to increase quickly as blockchain becomes more mainstream and, as demonstrated by bringing in the ChainSecurity team, we are very invested in building up our capabilities around blockchain in a way where we are ahead of the market. We will continue to grow the team to anticipate these needs based on how we see the market developing.”

When asked about how the capabilities of ChainSecurity’s team will be employed by PwC, Krieger explained that the firm’s customers need a combination of technical and legal skills that can be provided by combining the two companies. He explained: While ChainSecurity previously was only able to offer their technical expertise, in connection with PwC Switzerland they can offer a more useful and more coherent service to their customers. PwC’s broad competences around regulatory concerns, ranging from data privacy over compliance to KYC/AML, enable the newly joint team to offer broader and more comprehensive services.

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