PwC Aarata Launches AI Audit Lab

Established to explore next-gen accounting audit services

21 October 2016
PricewaterhouseCoopers Aarata LLC

TOKYO, 21st October 2016 – Today, PricewaterhouseCoopers Aarata LLC (Office: Chuo-ku, Tokyo, CEO: Koichiro Kimura) (PwC Aarata) launches its AI Audit Lab. By introducing artificial intelligence (AI) into accounting audits, PwC Aarata aims to improve auditing quality, operational efficiency and automation.

Since its establishment in 2006, PwC Aarata has promoted the use of technology to improve auditing service quality. It has implemented a system to pinpoint and intensively check suspicious data entries in fully digitized transaction journals, and has also managed audit with ERP (enterprise resource planning) system. AI Audit Lab envisions the future of auditing and studies the potential applications of AI for auditing services. Rather than replacing the existing operation with AI, the goal of the project is to create new value by leveraging AI’s technological ability to collect comprehensive information and create quick and accurate analyses.

By deepening its IT utilization and collaborating with the PwC global network across 157 countries in the world, PwC Aarata aims to deliver higher-quality, more efficient auditing services. By considering the roles of both humans and technology, PwC Aarata is continuously exploring next-gen accounting audit services.

Overview of AI Audit Research Lab

【Activity】
Research on use of AI for accounting audits.

【Organization】

Executive Officer Hitoshi Kiuchi COO
Chief of Lab Kazuyuki Tsujimura Partner
Deputy Chief of Lab Masataka Kubota Partner
Initially around 30 professionals in Japan (including members from Global Innovation Factory of PwC Consulting LLC)

Ends

About PricewaterhouseCoopers Aarata LLC
In fulfillment of its mission to provide audits and assurance as outstanding professional services, PricewaterhouseCoopers Aarata LLC applies the approaches and best practices of PwC, one of the world's largest networks, in ways tailored to conditions in the Japanese market. In addition, we provide clients with a wide variety of assistance in adopting International Financial Reporting Standards (IFRS) and addressing matters related to internal controls for financial reporting as well as advice on IPOs.

About PwC
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.