Audit

Every aspect of our audit is designed to deliver the highest quality, ensuring that every opinion we sign is one you can trust.

Building trust in society

As a society, we need to know that we can trust the businesses and organisations on which we depend. Accurate financial reporting is a key pillar in building that trust.

If we know that the numbers organisations report are true and fair, and free from material misstatements, we can have confidence in them. A high quality audit means that their reporting can be trusted.

“As society’s expectations change and stakeholder demands for information evolve, building and maintaining trust remains at the very heart of our role as auditors. Through our deep technical knowledge, multidisciplinary expertise and cutting edge technology, we ensure the quality, integrity and transparency of our work continues to build trust in what matters most.”

Andy Hammond, Head of Audit, PwC United Kingdom

Our audit approach

Scoping and risk assessmentExtracting dataDesigning the audit planUnderstanding data flows and controlsTesting and analysisConcluding, reportingand signing the opinionAdvancingthe auditReassessment and retesting
The PwC Audit
Scoping and risk assessment
We start by making sure we understand the organisation – its business model, its key systems and processes, data flows and the overall control environment.
Understanding data flows and controls
We understand your end-to-end data flows and control environment supporting material financial statement line items, ensuring that we have a complete picture. Where possible, we seek to use technology to automate our understanding and create a digital footprint of the business.
Designing the audit plan
We build the audit plan, determining the areas that will be tested and the data that’s required. Our global audit platform, “Aura Platinum”, enables rigour, consistency and quality.
Advancing the audit
We’re bringing greater digital functionality to the audit, including automation, the development of data analytics and visualisation capabilities.
Extracting data
Where systems allow, our Extract suite of tools enables us to obtain and evaluate the data directly. Where this isn’t possible, we use PwC Connect to share documents, track status, and co-ordinate engagements globally between engagement teams and management.
Testing and analysis
Our people test every relevant material risk. With our Halo tools, we can analyse large volumes of data and better identify likely sources of potential misstatement.
Concluding, reporting and signing the opinion
Having completed our documentation, we report our conclusions. When the Engagement Leader is confident all checks have been completed, they sign the audit report.
Iterative risk assessment
Where additional risks are identified during our work, we consider whether the audit plan should be amended.
We approach the audit with curiosity,
business understanding and focus.
Using technology, we identify anomalies
by analysing millions rather than hundreds of data points.
A quality audit depends on rigourous project
management - we'll manage the flow of information, agree
a timeline of work and plan every stage meticulously.
Machine learning and artificial intelligence combined with the experience and judgement of our audit specialists, are driving the evolution of the audit
Extract seamlessly ingests volumes of data
without disrupting ongoing operations.
We use in-depth data analytics and
visualisation to focus on key audit risks.
It's our duty to show those charged with governance
that we haven’t been afraid to hold a mirror up to
the organisation and offer them constructive challenge.

Our human-led, tech-powered approach

Every aspect of our audit process is designed to deliver the highest quality and ensure clients have trust in the outcomes. Jass Sarai, Head of Markets and Services for Audit, and Marc Bena, Digital Audit Leader and Audit CTO, explore how our human-led, tech-powered approach gives clients the results they need.

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2:20

Audit: Bringing the best people together with the right

Every aspect of our audit process is designed to deliver the highest quality and ensure clients have trust in the outcomes. Jass Sarai, Head of Markets and Services for Audit, and Marc Bena, Digital Audit Leader and Audit CTO, explore how our human-led, tech-powered approach gives clients the results they need.

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“We bring passionate people together with leading technology to deliver high quality audits. We take pride in being an inspiring and inclusive place to work where you’ll have an exceptional career experience.”

Andy Hammond,Head of Audit, PwC United Kingdom

Contact us

Andrew Hammond

Andrew Hammond

Head of Audit, PwC United Kingdom

Sotiris Kroustis

Sotiris Kroustis

Chief Risk and Quality Officer, PwC United Kingdom

Tel: +44 (0)7841 490928

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