Next Generation Audit
Quality first, purpose always. That’s what drives us today and it’s how we’re bringing the audit into the future. Led by people who have the passion and skills to make a difference. And enhanced by powerful technology. Discover how we’re reimagining the possible for you, and for companies around the world, every day.
Tomorrow's
audit, today
Next generation audit
PwC's innovative, digitally advanced audit services Duration: 01:50
Welcome to your new audit experience
Delivering
exceptional quality
Saving you
time
Giving you
deeper insight
A perfect blend of people + technology
Quality first,purpose always. That’s what drives us today and it’s how we’re bringing the audit into the future. Led by people who have the passion and skills to make a difference. And enhanced by powerful technology. Discover how we’re reimagining the possible for you, and for companies around the world, every day.
What we bring to your audit
Invested in digital upskilling
Investing into our next generation audit
Digital Innovation of the Year winner at International Accounting Forum & Awards
Singapore AI Hub
"This AI Hub is a tangible commitment to deliver on our renewed purpose by leveraging AI to scale solutions for our clients and to power the transformation and adoption of AI technologies for close to 4,000 people across the firm. Singapore was the clear choice as the location for the AI Hub, given our strong infrastructure, economic stability and pro-business government policies that support innovation and technological development at scale. As a popular regional HQ hub, Singapore is the natural fit to advance PwC’s AI ambitions."
PwC OS Agents
PwC OS Agents
Discover how PwC's Agent OS helps clients maximize AI technologies, enhancing decision-making and streamlining operations.
ChatPwC
ChatPwC
See how ChatPwC uses AI to deliver tailored solutions that improve workforce transformations and optimize decisions.
Technology alliances
Technology alliances
Benefit from PwC's strategic alliances, offering tailored solutions to prepare you for future challenges.
Experience the reimagined, AI-driven audit
Our proprietaryagentic architecture creates a unified, secure and integrated platform—improving visibility and coordination across global teams, while respecting privacy and regulatory standards.
Experience faster, easier data extraction and transformation––with fewer demands on your team. Our AI-enabled data acquisition enhancements make this possible, allowing for precise risk assessment through AI-generated anomaly detection across complete data sets.
Our tech-driven and people-empowered, data-fuelled approach to anomaly detection is part of a dynamic, data-driven risk assessment that adapts in real time to your evolving risks. This enhances audit quality, communication and highlights areas most vital to you.
With access to an extensive and deep data set, our platform listens to the data—enabling comprehensive benchmarking and analysis. This empowers your audit team to engage in richer, deeper and earlier conversations, helping them understand significant changes in your business and in our risk assessment.
Innovative technology powering PwC’s financial statement audit
We enhanced the financial statement audit via our ongoing commitment to technology—continually reinventing and revolutionising.
Driving quality and consistency through a risk-based approach.
Aura, our global ERP system, makes sure work gets done one way - the right way - globally and locally. It is used by over 100,000 auditors worldwide, on every PwC audit. Aura ensures our teams take a consistent, focused and efficient approach to audit risk. This means:
- A better understanding of your business due to end-to-end visibility of the audit process.
- A greater focus on the things that matter thanks to a systematic risk-based approach.
- Our pre-loaded risk software helps teams to identify the relevant risks and perform the right work to address them.
- Consistency and quality of audit delivery across our entire client base.
- Real-time monitoring of engagement quality and progress is available securely on mobile devices, anytime, anywhere.
Understanding your business and gaining deeper insights
Halo, our data auditing technology, tests huge volumes of business-critical data, analysing whole populations, improving risk assessment, analysis and testing, and unlocking a wealth of insight. Halo is revolutionising our audits by harnessing the power of data.
- Enables a greater understanding of your business to enhance audit quality.
- A combined trend and ratio analysis provides you with insights using information we already receive as part of the audit.
- Visualisations highlight patterns and potentially higher risk transactions instantly, enabling a deeper understanding of your business and supporting more relevant conversations.
- Automation of manual tasks leading to greater efficiency.
Connecting people in real time.
Connect, our global coordination tool, provides fast, efficient and secure information sharing at every stage of the audit. It streamlines, standardises and automates real-time communication between your teams and ours, 24/7, wherever you are in the world. This means:
- Better information exchange and document management using a secure, web-based tool.
- Process efficiencies through consolidation and automation of notifications.
- Safe and secure communication for your teams and ours.
- Scalability - globally available for clients, small or large.
- Significantly reduced document management effort.
- Fast and efficient issue resolution due to real-time tracking.
Extract
- Extracts large volumes of data with limited impact on your systems.
- Returns standard data formats allowing automated transformation ready for analysis by our applications.
- Eliminates the need for repeated, manual intervention through the data extraction process.
- Encrypts and compresses the data during the extraction and transfer.
- Provides end-to-end protection of your data.
- An overall more efficient data acquisition process.
Confirmation
- Integrates with Thomson Reuters’ Confirmation Platform (Confirmation.com) allowing us and those who respond to confirmations to use its network of thousands of responding companies, financial institutions, and law firms
- Responses provided directly in the platform simplify the experience for your teams and ours
- Real-time visibility of the status confirmations process
- Protects your data, providing for a safe and secure confirmation process
- Provides an intuitive and consistent experience
People-powered
Our team’s audit and digital IQ delivers high quality, exceptional service and new insights
Bringing the best of human and machine to your audit. We’re making big investments in people and technology. We are constantly adapting to change, equipping all of our people with new skills through ourDigital Upskilling programme and giving them the tools and empowering them to put this learning to work. Think of your PwC team as digital problem solvers for your audit. The result: auditors who are digitally upskilled and continually looking for ways to bring innovation along with the integrity, independence, and professional skepticism you expect – digital problem solvers for your audit.
So you get the best of human and machine, for a more powerful and personal audit. Our audit is People-powered, to bring to you the six benefits of tomorrow’s audit, today.
Explore the six benefits of tomorrow’s audit, today
- Greater Assurance
- Precise
- Transparent
- Efficient
- Customised
- Insightful
Greater Assurance
More efficient, more comfort
Bringing automation at scale to process voluminous amounts of data at high speed. This enables us to deliver greater coverage to provide you with more comfort.
So you can have greater insights from our risk-focused audit.
How we do it
Our Halo suite processes voluminous amounts of data at high speed enabling greater coverage to provide more comfort. It analyses the whole data set using algorithms to determine expected and unexpected transactions, allowing us to deliver a risk-focused audit to give you greater insights.
Precise
Focused, enhanced quality
We deliver a risk assessment that’s as unique as your business. We go deep into your industry and business to help identify more accurately where the risks lie. UsingAura, we can prioritise the most relevant financial reporting risks.
So you can have more confidence that our audit testing is relevant and rightsized.
How we do it
OurAura auditing platform delivers an audit more tailored to your business, and is used globally across all of our audits. Aura enables us to formulate suitable audit plans through a more targeted testing to deliver enhanced quality.
Transparent
Global visibility, real-time status
Track progress and stay in touch with us through ourConnect platform. It eliminates the need to track countless emails and you’ll also be able to see the status of audit requests, adjustments, control deficiencies, and statutory audit progress for all global locations – in real time.
So you have a real-time view into audit progress, anytime, anywhere.
How we do it
Connect is our collaborative workflow tool that can automatically flag and track outstanding items and issues for more immediate attention and resolution. You have a real-time view into audit progress, anytime, anywhere. This process continues through our time-tested, world-class issue resolution process.
Efficient
Less disruption to your work, more automation saves you time
We’ll reduce the time spent on the audit by automating manual tasks and streamlining workflow. We can also phase work throughout the year so audit season is less hectic. Together, we can complete much of the audit earlier, lessening crunch time in the end and providing more timely issue resolution.
So your people do less prep and have more time to run your business.
How we do it
Extract tool, a part of ourHalo suite, enables us to seamlessly extract and securely transfer your data, saving you time on the audit through automating manual tasks.
PwC Confirmation Systems, a part of ourAura suite, reduces the time you spend on preparing paper confirmations traditionally.
We continue to scale our investments, delivering even more people+tech pairings to serve all of our clients, so your local teams can focus on judgment and matters that are unique to your business.
Customised
Tailored innovations, just for your audit
Your PwC team members are digitally trained and continually look for opportunities to automate routine audit tasks. Your Digital Accelerator, an auditor with specialised tech training, can also spot audit areas ripe for digital improvement – then build the automations to make it happen. These custom innovations along with deep sector experience and audit acumen make for an audit more tailored to your business.
So you can spend more time getting things done outside the audit.
How we do it
On-the-ground innovation is possible because of our commitment to building a truly digital workforce—made up of people who are skilled and empowered to use the latest tech to solve audit challenges. These digital guides will build bots, automated workflows, and data visualisations tailor-made for your audit to help eliminate busy work and reduce the potential for errors.
Insightful
Bringing audit insights to life so you can see your business better
With time saved on manual audit tasks made digital, your audit team can focus on digging deeper into important audit matters in a new way. From start to finish, they’ll leverage your audit data to bring deeper analysis, smarter anomaly detection, and the ability to spot audit-related trends.
So your audit is more relevant and full of insights.
How we do it
OurHalo suite of tools enables us to better spot anomalies or new trends. We then use the latest data visualisation tools so you can see beyond numbers on a page. This also enables us to target test and unlock new value and analysis related to critical audit areas.
We are consistently re-imagining the audit by investing and working on using advanced technologies to bring you fresh insights.
Explore how our audit technology can enhance audit through innovation
Innovation is imperative to managing the complexities of a business. At PwC, we’re investing in leading-edge technology, significant process improvements, and focused on digitally upskilling our people.
We are bringing in an enhanced way of auditing that will deliver high quality and unique insights to our clients and businesses.
A collaborative workflow tool that allows fast, efficient and secure information sharing at every stage of the audit.
Connect streamlines, standardises and automates real-time communication between teams, accessible wherever you are in the world. This means:
- Better information exchange and document management using a secure, web-based tool.
- Process efficiencies through consolidation and automation of notifications.
- Safe and secure communication for your teams and ours.
- Significantly reduced document management effort.
- Fast and efficient issue resolution due to real-time tracking.
Connect: Makes it easy to stay on the same page
It’s where our clients’ teams and ours can be in touch 24/7 and where they see real-time status updates—even from their phone. One-stop for everything audit.
Award-winning data analytics tool that provides greater assurance and deeper insight.
Halo is revolutionising audit work by harnessing the power of data. It offers:
- A greater understanding of your business to enhance audit quality.
- A combined trend and ratio analysis that provides you insights using information already received as part of the audit.
- Visualisations that highlight patterns and potentially higher-risk transactions instantly, enabling a deeper understanding of your business and supporting more relevant conversations.
- Automation of manual tasks which leads to greater efficiency.
Halo: Delivers precision and insights
Our Halo data auditing tools test huge volumes of data, analyzing whole populations to improve risk assessment, analysis and testing.
Single instance software that drives quality and consistency throughout the audit process
Aura, our global audit platform, takes a consistent approach to audit risk and provides real-time monitoring of engagement progress. This means:
- A better understanding of your business due to end-to-end visibility of the audit process.
- A greater focus on the things that matter thanks to a systematic, risk-based approach.
- Pre-loaded risk software helps teams to spot the relevant risks and perform the right work to address them.
- Consistency and quality of audit delivery.
- Real-time monitoring of engagement quality and progress is available securely on mobile devices - anytime, anywhere.
Aura: Fuels the audit and our teams
Think of our cloud-based Aura platform—used on every PwC audit across the globe—it’s our audit ERP where we build and execute the audit plan.
Assurance technology innovations
It allows organisations to understand and control RPA risks and identify opportunities to embrace RPA within their own organisation, auditors can position themselves as trusted advisors. RPA helps to automate audit tasks which enhances efficiency and effectiveness of the audit process. This would also help auditors to increase productivity, expand its risk coverage and help address the ongoing compliance burden by doing more with less.
Collecting real-time data from connected devices and using technology such as machine learning will help auditors interrogate data and empower them to examine unusual or unexpected items, surfacing risks that subsequently can be addressed and resolved.
PwC’s Cash.ai, named Audit Innovation of the Year 2019 by the International Accounting Bulletin, uses AI to automatically read, understand and test client documents, including reported cash balances, bank reconciliations, bank confirmation letters, foreign exchange and financial condition of the bank – in essence, the complete audit of cash.
Find out more about Cash.ai
Is a decentralised ledger, or list, of all transactions across a peer-to peer network. While cryptocurrencies like bitcoin gather headlines, of great interest is the underlying blockchain technology because of how securely the blockchain can record transactions in a ledger. As such, it can replace processes where transactions need to be verified by a third party.
Blockchain might also be able to replace random sampling by auditors, by making it easier and more effective to check every single transaction using code. This would also make it easier to investigate fraud, since real-time systems could highlight and investigate anomalies.
Drones can assist the auditors to gather data quickly and accurately by accessing hard-to-reach places, including stock taking over large areas and measuring the progress of an infrastructure. This makes a crucial difference in managing costs, controlling risks, increasing efficiency and influencing outcomes.
Find out more
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