Draft:LRQA Wikipedia

LRQA is a multinational company, headquartered in Birmingham, United Kingdom (UK), which provides certification, inspection, verification, cybersecurity and advisory services. The company operates across sectors including food and beverage, retail, hospitality, renewable energy, transport, technology and telecommunications and financial services. Its 5,000 employees operate out of 150 countries, serving 61,000 clients.

History

LRQA, formerly part of Lloyd’s Register of Shipping, specialises in certification and inspection services. In 2021, it was divested from Lloyd’s Register and acquired by Goldman Sachs Asset Management.

In the 1950s, LRQA provided inspection services for Calder Hall in the UK, the world's first nuclear power station.

n 1984, a quality and certification business was formally established (as part of Lloyd’s Register of Shipping). The following year, in 1985 UK's National Accreditation Council for Certification Bodies (NACCB), which later became the United Kingdom Accreditation Service (UKAS) .

LRQA acquired Nettitude, a cybersecurity services provider, specialising in cyber risk management, threat intelligence, penetration testing and incident response, in March 2018. Founded in 2003, Nettitude has since been rebranded under LRQA.

One year later in 2019, ELEVATE Ltd, now formally part of LRQA, developed and launched. EiQ is designed to help businesses manage risk across their global supply chains by providing real-time-data-driven insights and analytics. This platform leverages machine learning and a large dataset of audits and trusted research to help companies identify and manage risk in their global supply chains.

On 2 December 2021, LRQA including its cybersecurity division Nettitude, was acquired by a fund managed by Goldman Sachs Asset Management.] This acquisition marked LRQA’s separation from its previous parent company, Lloyd’s Register, and its establishment as an independent business under new management.

In 2022, LRQA acquired ELEVATE, an Environmental, Social and Governance (ESG) and supply chain services provider. Following the acquisition, ELEVATE was rebranded under the LRQA name, consolidating its services into LRQA’s broader portfolio.

Also in 2022, LRQA’s cybersecurity division received the OVS (Open Web Application Security Project Verification Standard) accreditation for mobile and web applications from CREST (Council of Registered Ethical Security Testers), adding to existing accreditations for Penetration Testing, Red Teaming, Incident Response and Security Operation Centre services. LRQA is the only organisation in the world with a full suite of CREST accreditations.

Acquisitions

LRQA has expanded its service offerings and market presence through a series of acquisitions. These acquisitions have played a role in strengthening its capabilities in areas such as ESG services, supply chain management and cybersecurity.

Ryerson, Master and Associates (2009): In 2009, LRQA acquired Ryerson, Master and Associates (RMA), a US-based provider of greenhouse gas verification and technical advisory services. RMA specialises in climate action planning, preparing carbon footprints, reporting greenhouse gas emissions and corporate water management, strengthening LRQA’s capabilities in sustainability and environmental services.

Acoura (2016): LRQA acquired Acoura, a provider of food safety and supply chain assurance services, in 2016, strengthening LRQA's expertise in the food and beverage sector by consolidating food safety certification solutions.

Nettitude (2018): Nettitude, a provider of cybersecurity services, headquartered in the UK, was acquired in 2018, adding service offerings such as penetration testing, threat intelligence and red teaming to LRQA’s portfolio.

ELEVATE (2022): In 2022, LRQA acquired ELEVATE, an Environmental, Social and Governance (ESG) and supply chain services provider, adding ESG due diligence and risk management, supply chain audits, sustainability reporting and compliance, human rights and labour practices audits, climate action services and EiQ to LRQA’s portfolio.

ATvanGarde (2022): LRQA acquired ATvanGarde, a Singapore-based cybersecurity consultancy focused on Governance, Risk and Compliance services in 2022.

Sustainable Assurance Solutions (2022): In the same year as the ELEVATE and ATvanGarde acquisitions, in December 2022, LRQA acquired Sustainable Assurance Solutions (SAS), a provider of sustainability audits, consulting and training services.

Service lines

LRQA is organised into the following four business units, and data and analytics services.

Inspection: Inspection services refer to the examination or evaluation of an object or activity compared to specified requirements and standards for determining whether the item or activity is in line with the relevant regulation or legislation.

Cybersecurity: Cybersecurity solutions refer to tools, strategies and practices designed to protect computer systems, networks and data from cyber threats, such as hacking, malware, data breaches and unauthorised access.

Assessment: Assessment refers to the assessment, certification and verification of management systems as well as products (product certification) against internationally recognised standards.

Advisory: Advisory solutions refer to the practice of providing consulting services to companies to improve performance and achieve organisational objectives. Advisory solutions include ESG due diligence and risk management, supply chain audits, sustainability reporting and compliance, human rights and labour practices audits, climate action services and training and capacity building.

Data and Analytics: LRQA's data and analytics solutions include EiQ, an Environmental, Social and Governance (ESG) risk and analytics platform that leverages machine learning and audit data to help companies identify and manage risk in their global supply chains.

Sectors

LRQA serves 61,000 clients in 150 countries, operating across a wide range of sectors, including:

• Food and Beverage

• Financial and Professional Services

• Energy and Renewables

• Transportation and Mobility

• Technology and Telecommunications

• Consumer Goods and Retail

• Construction and Engineering

• Healthcare and Medical

Accreditations

LRQA is recognised by various accreditation bodies and industry associations worldwide, including UKAS (United Kingdom), ANAB (USA), COFRAC (France), ACCREDIA (Italy), RvA (Netherlands), and JAS-ANZ (Australia/New Zealand). It was the first organisation accredited by UKAS to deliver ISO 9001 (1987) and ISO 14001 (1996) certification.

LRQA holds UKAS accreditation to ISO 17021:2015, which authorises it to provide management systems certification for multiple international standards, including ISO 9001 (Quality), ISO 14001 (Environmental), and ISO 45001 (Occupational Health and Safety). Additionally, LRQA is accredited by UKAS to deliver various product certification, inspection, validation, and verification services.

Awards and Recognition

LRQA has been recognised for excellence and innovation across various sectors:

Hong Kong Business Technology Excellence Award 2024: EiQ won the 2024 Hong Kong Business Technology Excellence Award in the Analytics – Supply Chain category.

BRCGS Auditor of the Year 2024: Awarded to Pauline Shaw for her outstanding audit performance and contribution to the BRCGS Storage and Distribution

Best Penetration Testing Product or Service Teiss Award 2024: Awarded to the LRQA cybersecurity division.

CREST Accreditations 2024: LRQA is the only organisation to hold the full suite of CREST accreditations for cybersecurity.

Automotive Excellence Award 2024: Recognised for Intelligent Connected Vehicle Certification and Inspection services.

Computing Security Excellence Awards 2024: Awarded for Enterprise Threat Detection and Cloud Security to LRQA's cybersecurity division.

Society of Food Hygiene and Technology Best Company 2023: Highlighting LRQA's year-on-year growth in GFSI-recognised food safety services. New product launches, including the Better Chicken Audit Module for enhanced animal welfare in the UK and awarding the world's first MSC and ASC Ecolabel certificate for Seaweed.

Society of Food Hygiene and Technology 2022: Best Auditor award for Kevin Whatley. The Best Auditor category recognises continued excellence in knowledge, objectivity, and pragmatism in audit skills while ensuring conformance with recognised standards.

Corporate Social Responsibility

LRQA emphasises sustainability and ethical practices across its operations. Its initiatives include ESG Advisory services and the development of standards for responsible business practices.

In 2023, LRQA launched its sustainability strategy and digital dashboard, ‘Our Planet, Our Plan’ and shortly after, in September 2023, LRQA released its first Sustainability Progress Report/, the first sustainability report LRQA published as an independent company following the divestment from Lloyd’s Register in 2021.