LRQA (formerly known as Lloyd's Register Quality Assurance) is a global assurance provider that offers a wide range of assurance, inspection, and cyber security services. The company was previously the Business Assurance & Inspection Services division of Lloyd's Register (LR) until it was acquired by Goldman Sachs Asset Management in December 2021.LRQA generates revenue by providing assurance services across various sectors, including certification, cybersecurity, inspection, and training. The company leverages its deep technical expertise, global scale, and digital capabilities to help clients navigate a rapidly changing risk landscape.Under the ownership of Goldman Sachs Asset Management, LRQA aims to become a fully independent, digitally-enabled assurance provider. The partnership with Goldman Sachs Asset Management is expected to accelerate LRQA's growth trajectory, both organically and through acquisitions, while enhancing its products and services to better serve its clients.Since becoming an independent entity, LRQA has focused on the digital transformation of the assurance market. The company believes that technology and data analytics will play a crucial role in enabling more efficient and effective assurance services, transforming risk management programs, and ensuring business resilience.In January 2023, LRQA announced its combination with ELEVATE, a provider of ESG and supply chain services. This strategic move aims to create a powerful offering for customers by combining LRQA's expertise in assuring ESG data with ELEVATE's ability to consult and implement real change in client organizations and their supply chains.