The financial statement audit evolved for your changing business needs—helping you build trust in what matters
Financial statement audit services
Build trust to protect what matters
Trust has never been harder to earn, nor easier to lose.That’s why we’re moving the PwC audit into the future. Bringing together multidisciplinary expertise, deep technical knowledge and real world objectivity to deliver the highest standards of quality, integrity and transparency. Building trust that protects what matters.
Our key audit services:
- Audits in accordance with International Standards on Auditing (ISA) of financial statements prepared in accordance with International Financial Reporting Standards (IFRS), National Accouting Standards or other generally accepted accounting standards
- Audits of subsidiaries of multinational companies in accordance with group requirements
- Specified procedures of subsidiaries of multinational companies in accordance with group requirements
- Financial statements review in accordance with International Standards on Review Engagements (ISRE)
- Recommendations on controls and processing system weaknesses, including SOX controls
- Compliance audits (Bulgarian National Bank and other regulators)
- Independent review of externally reported information
PwC has a comprehensive and efficient quality assurance programme; quality is of utmost importance. Quality is regularly assessed through professional external peer review.
Innovative technology powering PwC’s financial statement audit
We enhance the financial statement audit via our ongoing commitment to technology—continually reinventing and revolutionising.
PwC’s Aura
Driving quality and consistency through a risk-based approach.
Aura, our global ERP system, makes sure work gets done one way - the right way - globally and locally. It is used by over 100,000 auditors worldwide, on every PwC audit. Aura ensures our teams take a consistent, focused and efficient approach to audit risk. This means:
- A better understanding of your business due to end-to-end visibility of the audit process.
- A greater focus on the things that matter thanks to a systematic risk-based approach.
- Our pre-loaded risk software helps teams to identify the relevant risks and perform the right work to address them.
- Consistency and quality of audit delivery across our entire client base.
- Real-time monitoring of engagement quality and progress is available securely on mobile devices, anytime, anywhere.
PwC’s Halo
Understanding your business and gaining deeper insights
Halo, our data auditing technology, tests huge volumes of business-critical data, analysing whole populations, improving risk assessment, analysis and testing, and unlocking a wealth of insight. Halo is revolutionising our audits by harnessing the power of data.
- Enables a greater understanding of your business to enhance audit quality.
- A combined trend and ratio analysis provides you with insights using information we already receive as part of the audit.
- Visualisations highlight patterns and potentially higher risk transactions instantly, enabling a deeper understanding of your business and supporting more relevant conversations.
- Automation of manual tasks leading to greater efficiency.
PwC’s Connect
Connecting people in real time.
Connect, our global coordination tool, provides fast, efficient and secure information sharing at every stage of the audit. It streamlines, standardises and automates real-time communication between your teams and ours, 24/7, wherever you are in the world. This means:
- Better information exchange and document management using a secure, web-based tool.
- Process efficiencies through consolidation and automation of notifications.
- Safe and secure communication for your teams and ours.
- Scalability - globally available for clients, small or large.
- Significantly reduced document management effort.
- Fast and efficient issue resolution due to real-time tracking.
PwC’s Extract
Extract
- Extracts large volumes of data with limited impact on your systems.
- Returns standard data formats allowing automated transformation ready for analysis by our applications.
- Eliminates the need for repeated, manual intervention through the data extraction process.
- Encrypts and compresses the data during the extraction and transfer.
- Provides end-to-end protection of your data.
- An overall more efficient data acquisition process.
PwC Confirmations
Confirmation
- Integrates with Thomson Reuters’ Confirmation Platform (Confirmation.com) allowing us and those who respond to confirmations to use its network of thousands of responding companies, financial institutions, and law firms
- Responses provided directly in the platform simplify the experience for your teams and ours
- Real-time visibility of the status confirmations process
- Protects your data, providing for a safe and secure confirmation process
- Provides an intuitive and consistent experience
Why choose PwC?
With a 170-year heritage of financial statement auditing, building trust has become a hallmark of the PwC brand. To meet our clients’ investments in governance, risks and controls, and data privacy, we’re empowering PwC auditors with a suite of emerging capabilities designed to meet your fast-changing needs.
Digitally upskilled with deep audit expertise
We believe the financial audit of the future must be people led with exceptional teams that bring together broad business understanding, deep industry and technical audit experience, clear judgement, critical thinking and professional scepticism to produce audit opinions that provide trust over the things that matter.
We continuously train our auditors and support them with tech that drives innovation customised to your audit. They know the importance of building strong relationships through genuine interactions, clear communications and balanced perspectives. Our teams care about their clients and are acutely aware of the difference our work makes to healthy capital markets.
Building trust and evolving your audit
When it comes to trust, what matters to stakeholders is changing. Today, organisations are judged on more than financial performance. Reporting on areas such as data and privacy, sustainability, risk, diversity and cybersecurity play an increasingly important role in building stakeholder trust.
For more than a century, we’ve helped clients build this trust in financial reporting. We're now bringing this expertise to a rigorous, integrated audit, providing assurance over what really matters to stakeholders. "What matters" may vary by company, country and industry, but the power of relevant, reliable and transparent information to build trust is universal.
With our independence, subject matter expertise and insights into what drives credibility, we are the right people to help you build trust in what matters.
Greater audit efficiency
Greater audit efficiency and profession-leading quality = less time and stress for your team
Agile. Streamlined. Effective. Less burdensome. How do we do it? Powerful tech, custom automations, delivery centres and deep audit experience help us to streamline testing and focus on complex, judgmental areas while timely resolving issues. Enabling continuously high quality and efficiency across all audit dimensions.
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