Audit firms: Sponsorship Activities

Big accountancy firms have much to gain from sponsorship activities, from supporting charitable causes to developing leadership programmes and promoting sports and arts. Through sponsorship programmes the audit firms not only fulfill their corporate social responsibility by making a positive impact on society and the environment but also maximize value for their business. For the smaller accountancy firms, sponsorship is often more about cultivating business and identity locally. Sponsorships programmes aim to extend positive impact across communities, sports, the arts and business. Audit firms support others to make progress where it matters most whilst offering exciting opportunities for their people and clients to experience who they are in different ways. Firms pursue focused sponsorship partnership strategy where they support a large number of causes aligned with their vision, values and purpose.

Through various sponsorship programmes the Big 4 accountancyfirms spend money all over the world.

EY has been an official partner to the 2012 and the 2014 Ryder Cups. EY also will serve as an official supporter and exclusive provider of professional services in the consulting category for the Rio 2016 Olympic Games. On 15 July 2013, Tate and EY announced a major new three-year arts partnership, making EY one of the largest corporate supporters of Tate.

Deloitte has been a top-tier partner of the Royal Opera House in UK since 2007. British Paralympic Association is the official charity partner of the Deloitte Ride Across Britain event.

PWC sponsor PGA tour event TPC Sawgrass in USA. PWC also supports Irish rugby, Irish Ice Hockey and The America’s Cup.

KPMG's association with the golfers Stacy Lewis and Phil Mickelson reflects shared values.

Additional thoughts

How can the risks be managed?

The key to manage risks in a sponsorship deal is by clearly defining the expectations and objectives of the programme. Choosing the right sponsorship programme and knowing when to end the deal if any controversy erupts can potentially make or break a firm’s reputation. Endorsement insurance can also help protect the sponsor in the event of a scandal or negative publicity. Another method is to sponsor numerous programmes across a range of venues such as sports, arts, culture and charity thus weakening the link between sponsorship and brand.