Transparency Report 2023 - Data-led solutions - power of technology transcript

At PwC we are combining our industry and technical expertise with powerful technology to reshape the way we deliver our audits. In conjunction with our alliance partners, our audit teams are leading the way in providing data-led solutions at scale and we are investing $1bn globally to develop the Next Generation Audit. We are investing in our auditors. We have trained over 5,700 auditors in our data analytics tools. We have upskilled 184 auditors to become PwC Digital Accelerators who are responsible for driving innovation across our audit practice. Our new data framework developed in partnership with Microsoft has a number of AI powered connectors which can automatically acquire data from the companies we audit. Using this method we have analysed over 20 billion lines of data per year for over 2,000 companies. Data platform enables a greater level of assurance by testing over 100% of a company's financials and allows us to identify issues early rather than through traditional one year-end testing. By combining data visualisation and our team's business process expertise we are able to better provide detailed insights to the operations of the companies we audit. Here at PwC we are constantly innovating to find more efficient ways of providing greater confidence in the areas that matter most.