PwC's Internal Audit Management Solutions

Business Scenario

Internal audits are a crucial part of every business's risk management process. However, the conventional methods of conducting an internal audit are typically inefficient and prone to error, due to the extensive manual efforts and processes involved. PwC has developed a collaborative internal audit solution to automate, streamline, and digitalise the internal audit process. With embedded PwC-designed audit models, auditors and risk professionals can now have more control over planning and executing audits.

Business Challenges

Unformalised Audit Processes and Approaches

Unorganised audit processes and manual approaches will increase the overall effort and time spent, limiting an internal audit's value to business.

Low Cost-Effectiveness

Auditors are continuously under pressure to do more with less. As data continue to grow exponentially, teams struggle to effectively utilise analytics for audits.

Lack of a Localised Solution

In many instances, internal audit management software won’t support local languages and have issues adapting to workflows and local regulatory requirements.

How We Can Help

PwC’s internal audit management solution provides complete process management and has modules of team head, manager and auditor information respectively for the entire audit lifecycle. You can create audit plans, track status, schedule automatic alerts, and gain risk insights, all on one platform.

The solution, which is powered by PwC's audit professionals, is designed to assist your business in areas such as offering local language support, access to best practices and benchmarking, as well as pivotal knowledge of local regulatory requirements.

Key Features

Audit Lifecycle Management Establish a single system to manage all tasks and view status of audit projects, bolster in-team collaboration, and receive real-time updates.

Data Driven Approach Embedded analytics across entire audit processes using real-time alerts, intuitive dashboards, and flexible report design tools.

Audit Planning Create dynamic audit plans based on defined objectives and scope. Audit work is prioritised based on business goals, risks, and business requests.

Business Benefits

Improved Audit Processes Standardise, automate, and manage internal audit processes to greatly improve productivity.

Gain Deeper Audit Insights Reports and analytics generated by the audit solution are highly intuitive, allowing management to make informed decisions based on a data-driven approach.

Facilitate Local Compliance for Risk Reduction The solution has been developed by China-based audit experts while the product team has been assembled to meet local regulations and business processes with bilingual language support.

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