AI and the Audit

Business shouldn’t be limited by what’s humanly possible — and neither should the audit.

We challenged ourselves to capture AI's extraordinary speed and accuracy to transform audit quality.

Cash and the audit

AI Audit for Cash

The audit of cash is a key element of every audit, regardless of size or sector, but it comprises a large number of manual, time consuming, non-standardised activities. Learn more about how AI Audit for Cash is helping revolutionise audit quality and efficiency by performing, in essence, the end-to-end audit of cash.

Duration: 00:02:29

“AI Audit for Cash demonstrates our commitment to investing in AI technologies to keep the audit fit for purpose and relevant for the future.”

Gary Rapsey -Global Assurance, Chief Innovation Officer, PwC UK

Auditing cash across five key tests

AI Audit for Cash enables cash audit procedures to be executed effectively by technology including AI. It covers these areas of the audit of cash:

  1. Cash balances 

  2. Bank reconciliations 

  3. Bank confirmations 

  4. Foreign exchange 

  5. Financial condition

The process is fast, seamless and intuitive and the result is a more hassle-free, frictionless experience, driving audit quality, accuracy and reliability.

Innovating to meet stakeholder needs

Expert auditors from around the world, working with Silicon Valley data scientists and expert UI/UX designers, came together to build AI Audit for Cash. This intelligent machine works with speed and accuracy to perform routine audit activities previously carried out manually by audit teams, providing insights in time to act.

  1. Trained on millions of lines of data 

  2. Working with extraordinary speed and accuracy 

  3. Doing in minutes what once took days 

  4. Awarded Audit Innovation of the Year 

“It’s got huge potential to completely revolutionise the way that we audit cash”

Joseph Miller -Competency Centre, Automation Lead
Audit innovation of the year - winner 2019

Awarded Audit Innovation of the Year

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Contact us

Gary  Rapsey

Gary Rapsey

Global Assurance Innovation Leader, PwC United Kingdom

Tel: +44 (0) 20 7804 5516