PwC wins ‘Audit Innovation of the Year’ at 2016 International Accounting Bulletin Awards

PwC’s revolutionary data-auditing tool, Halo, has been awarded the prestigious International Accounting Bulletin’s ‘Audit Innovation of the Year’.   PwC received the award yesterday in London at the International Accounting Bulletin Forum & Awards.

The award recognises organisations that, with a new initiative or innovation in audit, have made a major change in improving audit quality, efficiency or added value to clients.  Judges consider cutting-edge thinking behind the innovation as well as improvements in efficiency, accuracy and reliability; client satisfaction; contribution to improved audit quality and reliability.   

Ilandra Lejiņa, PwC’s Assurance Partner in Latvia: “We are delighted to have won this award which recognises the pioneering technology we are rolling out across our global network. These news certainly will also delight our customers in Latvia as we are planning to use this tool in our work already this year. Our ability to merge market-leading technology with the skills of our people is central to our global audit strategy and is changing the way we deliver our audits. Halo is revolutionising the PwC audit and harnessing the power of data.  It is our platform for a pipeline of new data products that will use, for example, artificial intelligence and augmented reality to add value by helping to unlock patterns and trends.”

Richard Sexton, PwC’s Global Assurance Leader, said: “We are very proud to have received this award which recognises our leadership of the profession in providing high-quality services and recruiting the kind of talented and independent-minded people required to deliver them.

“These developments create major opportunities for us to continually meet the changing needs of our clients and stakeholders and to reshape the assurance landscape by opening up the way to new forms of assurance and audit in the future - such as real-time assurance.”

Halo is used by 14,000 of PwC’s auditors across the world on over 8,000 client engagements worldwide.  More than 80 billion journals have been processed globally through Halo.