Cash.ai represents a quantum leap in the use of technology in the audit, intelligently automating not just elements of the audit of cash but the whole end-to-end process.
Cash.ai performs activities previously carried out by auditors with superhuman speed and accuracy. It takes audit quality and efficiency to a new level by standardising the approach and harnessing intelligent automation.
PwC’s Cash.ai 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.
As well as improvements in quality and reliability, with the introduction of Cash.ai our clients will benefit from a more hassle-free, frictionless experience.
Cash.ai was developed in partnership with a world-class Silicon valley AI company and Kaggle Grand Master data scientists. It has been trialled in Sweden, Canada and the UK and is planned for broader use over the coming year.
“Cash.ai demonstrates our commitment to investing in AI technologies to keep the audit fit for purpose and relevant for the future.”
Global Assurance Chief Innovation Officer, PwC UK
Global Assurance Leader, PwC UK