+20%
Audit efficiency
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M&A, audit & deal work Completed
Audit transformation through data analytics
Increased audit efficiency by 20% and inventory-testing performance by 30% by directing audit work towards material entries and control exceptions.
+30%
Inventory testing
Evidence inputs
- PwC UK Audit Transformation team; PCAOB and JSOX clients across Europe and the US.
- Excel · Audit analytics
Transformation
- Analysed journal data to concentrate procedures on material entries and exceptions.
- Improved PCAOB documentation and used Excel controls to identify workpaper errors.
Controls & assurance
- Used exception-led journal analysis to focus effort where financial risk sat.
Output
- Audit efficiency increased by 20% through optimised PCAOB documentation; inventory testing performance improved by 30% for an aerospace engineering client.
Business value
- Improved audit speed and reliability by surfacing material entries earlier.
- Problem
Manual, time-intensive procedures made material entries and workpaper errors difficult to surface early.
- Approach
Analysed journal data to concentrate procedures on material entries and exceptions.
- Outcome
Audit efficiency increased by 20% through optimised PCAOB documentation; inventory testing performance improved by 30% for an aerospace engineering client.
Business value
Improved audit speed and reliability by surfacing material entries earlier.
Transformation route
- 01
Analysed journal data to concentrate procedures on material entries and exceptions.
- 02
Improved PCAOB documentation and used Excel controls to identify workpaper errors.
Decision log
- Used exception-led journal analysis to focus effort where financial risk sat.
This case study proves
- Training & enablement Ways of Working Strong
What I learned
- Audit analytics creates value when it redirects attention to risk rather than only automating existing steps.
Future improvements
- Apply the exception-led method to current finance controls and automation.