PwC proudly received the 2023 ‘Digital Innovation of the Year’ Awards at the International Accounting Forum & Awards ceremony
- The Award highly recognises PwC’s AI capabilities for auditing in the areas of predictive analytics, AI-assisted review of financial statement disclosures and AI-enabled search functionality
- PwC’s AI capabilities were widely acknowledged for driving significant improvements in audit quality, efficiency, and client value creation
PwC won the esteemed ‘Digital Innovation of the Year’ Award at the 2023 International Accounting Forum & Awards ceremony in London, for its self-developed global suite of AI services in support of its auditors. This prestigious award acknowledges the profound global impact that PwC has made on the digital audit and accounting industry, solidifying its leadership and innovation.
PwC’s award submission, entitled: “Next generation AI services for the next generation auditor,” encapsulates its industry leading capabilities in predictive analytics, AI-assisted review of financial statement disclosures, and other capabilities exploring the potential of generative AI.
The annual awards event brought together global accounting firms along with regulators and industry bodies, consultancies and advisors, law firms, and technology providers to engage on the key themes impacting the sector and the opportunities for growth, while celebrating excellence in accounting and achievements in innovation.
“PwC China takes great pride in the PwC network’s notable achievement in winning this global accolade in AI capabilities in the accounting and auditing profession. We are actively exploring the use of responsible AI technology and tools to provide high quality professional services to our clients and society while rigorously complying with the data security, privacy, and compliance standards of the People’s Republic of China. Furthermore, we continue to be at the forefront of innovation, leveraging new technologies to create significant value in the current era.”
PwC’s ongoing innovation in AI in the audit
Predictive analytics employs machine learning and advanced statistical models to enable full population analysis of transactions. It provides significant benefits in helping our teams develop a better understanding of our clients’ business, while delivering more tailored, insightful auditing services.
AI-assisted review of financial statement disclosures uses AI capabilities to augment the financial statement disclosure review process, with potential use cases in sustainability and climate reporting to enhance the quality and efficiency in the auditing process.
AI-enabled search functionality is PwC’s enterprise-grade, secure and governed exploration of generative AI. This innovative capability enables PwC professionals to search through vast volumes of information, eliminating the reliance on manual search and streamlining client issue resolution.
At PwC, we strive to utilise responsible AI technology and tools to deliver exceptional professional services and innovative solutions for our clients and society, underscoring our commitments to build trust and achieve sustained outcomes.
Contact us
