Unlocking the full value of the audit through innovation
The audit revolution is about transforming the audit through innovation, focusing on three parts that are key to success in the audit of the future—technology, insights and people—and how these elements complement each other on the path to providing an enhanced way of auditing that delivers high quality and meets client expectations.
Artificial intelligence (AI)
The AI-enhanced audit is in its early stages, but AI is already being used to improve the audit process. AI allows companies to spot patterns and anomalies in large bodies of structured data. Any problems identified are recognized and remembered by the machine, which can then learn from its experiences and apply those learnings to the next data set.
Natural language generation and processing
Today, intelligent machines can analyze and translate large amounts of structured data into plain English, providing organizations with better value and insight.
Virtual reality (VR)
Why couldn’t VR also be used to train auditors by dropping them into a simulation of day-to-day audit situations, such as a stock count highlighting potential red flags?
We’re exploring how AI can deliver even greater levels of reliability, efficiency and insight. By combining AI technology with auditor expertise, we’ve developed GL.ai, an award winning product.
GL.ai, the first module of PwC’s Audit.ai, speeds up the audit process, generates insights that boost efficiency and provides confidence that attention is being focused on areas of true risk. The next Audit.ai modules are in development, and they’re set to continue to revolutionize the audit by enhancing client service, quality and efficiency and giving our people more time to turn data insights into business action.
A common global software platform that provides quality and consistency throughout the audit.
Award-winning technology that’s revolutionizing audits by harnessing the power of data.
A planning tool that provides fast, efficient and secure information sharing at every stage of the audit.