In the future, we believe that a step-change in audit ■ Aura Platinum – our cloud-based enterprise quality will be achieved through a partnership between resource planning system for the audit – is at people and technology. We continue to invest heavily the heart of how we build and execute the audit Internal reviews in advanced digital skills and AI-powered tools that are plan, driving quality and consistency. It lays the transforming the way people and tech work together. foundation for future digitisation and automation AI and automation have the potential to enhance audit and now has 146,000 users across the PwC work with exceptional speed and accuracy, reducing network The monitoring carried out by each human bias and error while augmenting human member ifrm includes reviews of judgement. Our auditors will work with intelligent ■ Connect Suite – our suite of collaboration tools completed engagements. Called machines that will be able to spot patterns and trends with over 700,000 users – helps us to collaborate Engagement Compliance Reviews in large data sets, and detect anomalies and exceptions and exchange information efifciently with our (ECRs), these are risk-focused for further testing. clients and group audit teams across the network monitoring procedures covering, on a periodic basis, individuals in each We are building our Next Generation Audit (NGA) by ■ PwC Extract – our data extraction tool – enables ifrm who are authorised to sign audit teams to gather and manage client data. It allows focusing holistically on the technology, people and or non-audit assurance reports. teams to connect to client systems, acquire data business model it will involve. The NGA programme Each review assesses whether in a secure way and store data safely will radically transform the way we work across our an engagement was performed global network by creating a simpliifed and intuitive in compliance with PwC Audit ■ Halo for Journals – our data analytics tool – approach that harnesses the power of data, intelligent guidance, applicable professional provides deeper insights to clients through built-in automation and the expertise of our teams. It will standards and other applicable deliver quality improvements as well as signiifcantly visualisations, and allows engagement teams to engagement-related policies and spend less time performing manual processes enhancing our people’s experience of auditing both procedures. In addition, the PwC ifnancial and non-ifnancial data, and the value we and more time understanding transactions. It network undertakes periodic reviews deliver to our clients. enhances quality by helping to identify unusual of member ifrms’ systems of quality items and potential risks. Halo is currently being management to assess whether We will continue to invest in these tools and in used with 14,726 audit clients (FY20: 13,000) the overall quality objective and developing the skills of our people to maximise and underlying quality management accelerate the beneifts across the entire audit. And These reviews are led by experienced independent objectives have been achieved. we are continuing to develop, implement and use new Assurance partners, supported by independent teams technologies to improve audit quality and provide better of directors, senior managers and other specialists. insights and user experiences. Examples include: Review teams receive training to support them in