Next Generation Audit

An easier, faster, interconnected audit experience. A bold, global vision for the future that is human-led, tech-powered, and data-enabled.

At PwC, we are transforming the way we deliver audits globally through our ongoing commitment to people and technology. By leveraging a first-of-its-kind relationship with Microsoft, we are building a revolutionary audit ecosystem, equipping our auditors with the new digital capabilities required to meet your fast-changing needs.

Emerging and cognitive technologies have the potential to enable our auditors to create an audit experience not possible before. With the power to transform data, apply predictive analytics and with automation at our fingertips, we will be able to provide clients and audit teams with a panoramic view of their audit landscape. Delivering high-quality, fully integrated auditing at speed, reducing burden and helping you build trust in the things that matter most to you and your stakeholders.

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Transforming the audit experience

As active listeners, we grasp the messages conveyed by people and information. We hear loud and clear: greater transparency and trust is needed. Our evolving approach to audit allows us to adapt with this change, bringing greater insight and transparency as you look to build trust in what matters to your business and your stakeholders.

Our approach combines expertise, technology, and attentive listening to foster a closer dialogue between our teams, clients, and data. Now, with deeper data-driven process intelligence, we will gain even more insights that provide transparency, accuracy, and peace of mind. This new approach allows us to hear the data like never before, better understand its insights, and earn your confidence by supporting you in innovative ways. We empower you with a big-picture perspective, making today's complex audits more manageable, productive, and impactful.

Our human-led, tech-powered approach combines expertise and innovation to streamline our audit process, creating a smoother experience that addresses common challenges and minimises error. With transparent and effortless data integration, tailored to fit your organisation's digital capabilities, we reduce the overall audit burden by streamlining and standardising processes and focusing our work on areas of higher risk. Our goal is to provide you with a quality audit so that you can focus on building confidence with your stakeholders.

PwC wins 2023 Digital Innovation of the Year Award at the International Accounting Forum & Awards

PwC’s ongoing innovation in AI in the audit

PwC’s proprietary predictive analytics employs cloud-based machine learning and advanced statistical models to provide our auditors with the ability to predict client revenue to support audit procedures. This technology enables full population analysis of transactions that make up a financial statement line item balance, and includes built-in data reliability and model validation checks helping our teams further enhance their understanding of your business, while delivering a more tailored, quality audit.

PwC’s proprietary AI-assisted financial statement disclosure checking uses AI capabilities to augment the review of financial statement disclosures, and will also assist with sustainability and climate reporting in the future, reducing turnaround times, enhancing quality and unburdening the auditing process.

PwC’s exploration of Generative AI and AI-enabled search functionality seeks to provide our auditors with the ability to pinpoint relevant information with accuracy and precision and generate relevant summaries to support the audit process. The prototype capability enables our professionals to search through significant volumes of accounting and auditing guidance, or customise their experience by uploading and querying their own documentation - eliminating the need for manual search.

“Our next generation audit capabilities are transforming the audit experience. Helping to solve age-old challenges, which in the past may have burdened the audit process. This generational leap forward will augment the capabilities of our professionals, increasing insight, quality and value, as our clients look to build trust in a changing world.”

Mark Flavell,Leader, Global Next Generation Audit, PwC US
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James Chalmers

James Chalmers

Global Assurance Leader, PwC United Kingdom

Tel: +44 (0)20 7213 5501

Mark Flavell

Mark Flavell

Leader, Global Next Generation Audit, PwC US