Auditing at PwC:
Our goal is to understand the nature of your business: We customize the audit to meet your specific needs and circumstances. An audit conducted by PwC assures all stakeholders of the organization’s financial situation and accuracy of reporting. We make recommendations, among others, on how to improve financial processes, reporting, accounting, and internal audit.
At PwC’s audit report practices:
- we use the latest technology
- we continuously develop our management and working practices
- we emphasize the importance of training
- quality is at the heart of everything we do
The benefits of utilising technology in an audit
Auditing must develop along with the changes that take place in the operational environment, in order to better serve the expectations and needs of the stakeholders. We are pioneers in applying technology in our audits; we highly emphasize the use of technology and the expertise of our staff.
We are able to cover vast amounts of data by using modern and efficient computer-assisted auditing methodology, which allows us to identify deviations and other essential indicators. In fact, a great amount of our auditors’ time is spent on understanding and reviewing data. We have been developing new audit methods for years,and have applied data analytics-based methods with our clients. Process-specific programs and efficient data analysing tools allow for the handling of massive amounts of data and thus reliable decision making.
In principle, we use data analytics whenever we consider it as the most efficient audit method available.
The benefits of using data-analytics
Higher quality and greater scope of an audit, as auditing can cover even 100% of transactions compared to the use of a manual sampling.
Enhanced targeting of data based on detected risk factors
Reduced load of audit material for the client’s organisation, as most of the material and reports are obtained directly through the systems.
Our ability to use data and process analysis in auditing increases the scope and identification of specific targets
Auditing applications used by PwC
For many years, PwC has been recognised for its innovative use of auditing technology. Below are some of our most commonly used tools:
- Aura
- Connect
- Halo
- Alteryx
Aura
PwC network’s globally used program for audit documentation. Aura is used in the planning, realisation, and documentation phases of audit work.
Connect
PwC’s secure web-based client portal. The purpose of this portal is to enhance and simplify the audit process by making it possible to keep track of material requests and related answers in real-time.
Halo
Halo is a data analytics tool used to optimise the audit process. It visualises client data by using different analyses and allows for thorough understanding and and effective targeting of control measures.
Alteryx
Alteryx is a suitable tool for filtering, combining, and processing large amounts of data. It is used to make complex and client-specific analysis.
Why PwC?
- The best professional expertise to support your business
- Continuous training of our auditors
- Modern audit by using the best possible technology available
- New vision and strong commitment
- Quality of our work: We utilise quality measuring and processes to ensure the quality in all we do.
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