Enhancing the audit through innovation
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We've come a long way from the days when audit was a few words of confirmation from the auditor, evolving to what is now millions of data transactions and complex analysis. More than ever, stakeholders are calling for audit to give them confidence in an unpredictable world.
How do we continue to develop audit, and provide assurance to stakeholders as they look ahead to make decisions about the future?
Audit transformation has become the topic of the day for audit firms, but the reality is we’ve been working with our clients to improve the audit for more than a decade. We’ve already invested in automation to make the process faster, higher quality and to give greater insight. But where are we going next?
In our ‘Confidence in the future’ series, we’ll be releasing a number of insights covering how we believe audit needs to evolve, each looking at how we can deliver high-quality assurance to tackle some of the perceived challenges around the audit.
Corporate reporting is in need of a reboot. As a new technology-enabled environment emerges, what can be done to move us all towards a technology-enabled corporate reporting model that is relevant for stakeholders and their changing behaviours?
"In today’s uncertain times, it’s really understandable that stakeholders are asking for audit to give a much deeper, more meaningful level of insight. So, how does audit need to evolve?"
Explore discussions and points of view from our global Confidence in the future series.
Today, organisations in every industry are feeling the impact of disruptive technologies. And now audit faces a game-changing moment of its own. Technology has already improved audit quality, but how might newer technologies like AI be used to deliver better judgement and greater insight? We look at a few of the technologies we believe will augment the audit, and the changing role of humans in the process.
Finance executives getting started with emerging technologies like robotic process automation (RPA), artificial intelligence (AI), and blockchain can simply focus on one word: data. Given the amount of data available, the ability to harness deeper, more real-time insights is a competitive necessity. PwC shares how tomorrow's technologies can impact the finance function today.
Companies and other decision-makers use information to navigate through a complex world of risks and opportunities, amid technological advances that are unprecedented in their speed and impact. The world of information and trust is being revolutionised. What do companies and stakeholders need to consider to secure their place in tomorrow’s world?
Ryan Brason - Audit and Assurance, PwC United Kingdom
Tel: +44 (0)7753 812 639
Head of Audit Strategy and Transformation, PwC United Kingdom
Tel: + 44 (0)207 804 8123