PwC Developing Cutting-Edge AI Technology to Reimagine the Audit

At PwC, we are taking significant steps toward the next generation of the audit by incorporating artificial intelligence (AI) technology into our audit processes. Through our formal alliances and enterprise agreements with industry leaders, we are working to shape solutions and provide access to the people, companies and technologies that are leading the emerging GenAI ecosystem. 

For PwC and for our clients, AI is becoming a natural part of everything we make and do. Managing AI is no longer just about tech—it’s about helping companies solve important and meaningful issues that can unlock economic value. Our clients need us to meet them at the same technological forefront, which is why the PwC network is continuing to invest in AI and automation to transform its global assurance business.

Through this investment, we are leveraging an AI-first technology strategy and the latest GenAI and AI technology from Microsoft and other vendors to build a first-of-its-kind audit platform that will fundamentally change the way auditors work and further enhance audit quality. This leading technology will enable auditors to put greater focus on the most high-value tasks and exercise their professional judgement in a way that creates increased value for our clients.  

Once fully deployed, PwC's AI audit platform will be able to support several key areas of the audit process, including assisting auditors with tasks like data ingestion, risk assessment, and quality checking, keeping auditors informed of each step as they use their professional judgment. This greatly enhances the value clients receive by adding further depth to our audit procedures which, in turn, can help to reduce errors and provide permissible deeper insights.  

In addition to our established tools, such as ChatPwC, we are already developing, piloting and actively utilizing AI in certain areas impacting the audit, such as reading structured forms; extracting relevant terms and comparison to data attributes being audited; and using AI to enhance technical accounting and auditing search capabilities. Additional AI-based tools will be rolled out to our internal teams on an ongoing basis.  

At PwC, we are operational, not just aspirational. Our approach to AI enables us to strive towards leading Responsible AI adoption and transforming our own business, at scale, across our functions to better understand how to serve our clients. As we make progress on building our audit technology platform, AI will be holistically and responsibly integrated into next gen systems. Critical AI services (e.g., LLMs, SLMs, algorithms and autonomous capabilities) will be contracted or strategically built. Products and services will be enhanced, complemented or reinvented with AI. 

We are in the early stages of AI regarding the audit; as such, we are advancing the use of AI tools with appropriate business rules, policies, methodology and guidance to support our teams and address the attendant risks. Quality is a top priority, and while we’re excited to further integrate AI capabilities into our work, we are taking an intentional approach, prioritizing quality and responsible adoption. This approach is not new to us; PwC has been a leader in this space, pioneering the concept of Responsible AI—delivering innovative customer solutions that can leverage AI in a way that supports responsible and ethical use of AI technology and data. We strongly believe that a Responsible AI toolkit can allow our firm and clients to engage with this technology in a way that increases opportunity and decreases risk. 

"Our goal is to embed AI into our capabilities and tools used across our business to deliver tangible, practical benefits, while using the technology in a responsible way," says Jenn Kosar, US AI Assurance Leader at PwC. "By harnessing these technologies, we are putting the building blocks in place to redefine the audit experience for our clients and help lead the profession into the future.” 

As we build towards the next generation of the audit, PwC recognizes the importance of upskilling its workforce to thoroughly utilize the potential of AI. GenAI will always act as an enabler for our auditors’ intelligence, judgment and professional skepticism — not a substitute. Currently, we are also expanding our upskilling and engagement programs with additional opportunities for our people, including bespoke, human-led training on AI agents. This commitment to innovation, development and education enables PwC employees to stay at the forefront of industry knowledge and provide exceptional service to its clients. 

 PwC’s approach to AI is aligned with our global strategy and is rooted in building trust and delivering sustained outcomes for our clients and our stakeholders. We take immense pride in our commitment to and reputation for quality. This commitment is part of the makeup of our firm – it is embedded in our strategy, business and culture. As we gain momentum on this technology journey, we remain dedicated to designing innovations that will enable our firm to deliver greater value to our clients and enhance audit quality.