PwC wins next generation AI award in audit services at the International Accounting Forum & Awards
2 mins
Published by: Valery Zayaarskaya
20 March 2024, 02:30PM
PwC's AI-driven audit capabilities, such as predictive analytics and AI-assisted financial statement checking, improve audit quality and efficiency.
Mark Flavell, PwC's Global next generation audit technology Leader, emphasizes the firm's dedication to using machine learning and natural language processing to tackle audit challenges.
PwC has a history of pioneering AI integration in audit services, leading the industry in developing innovative solutions.
These advancements empower audit professionals to focus on strategic analysis and provide greater value to clients worldwide.
The firm's commitment to leveraging technology in auditing reflects its ongoing efforts to enhance audit methodologies and deliver exceptional services.
PwC wins next generation AI award in audit services at the International Accounting Forum & Awards
PwC's innovative AI-driven audit capabilities, including predictive analytics and AI-assisted financial statement disclosure checking, are recognized for their ability to enhance audit quality, reduce turnaround times, and improve overall efficiency in the auditing process.
In 2016, PricewaterhouseCoopers Aarata established the AI Audit Lab which has since worked both to develop AI in Japan and to actively participate in the development and utilisation of AI globally. Many of the various initiatives that have been recognized with awards this year have already been introduced in Japan or will be introduced soon, and some of the AIs we have developed in Japan have also already been implemented as part of those initiatives. At PricewaterhouseCoopers Aarata, we are actively working on the development and introduction of AI alongside our efforts to standardise operations and data and to develop human resources to realise audit innovation, and continue to work to build trust in society and solve important problems.
Mark Flavell, PwC's Global next generation audit technology Leader, highlights the firm's commitment to leveraging machine learning and natural language processing to address longstanding challenges in auditing, ultimately empowering audit professionals to focus on strategic analysis.
As a human-led, tech-powered organisation, PwC has the global reach that clients expect from a next generation professional services firm. We are moving quickly to develop and deploy machine learning and natural language processing capabilities across our global audit ecosystem. Our AI-enabled, data-driven services -- including generative AI and anomaly detection -- help to solve age-old challenges, which in the past may have burdened internal teams and clients organisations, as they support the audit process. This generational leap forward will augment the capabilities of our professionals and free them up to do more of what they do best.
With a track record of pioneering AI integration in audit services, PwC continues to lead the industry in developing cutting-edge solutions that revolutionize audit methodologies and deliver value to clients globally.
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