The future of audit starts with data

Digital tools are transforming audits – yet data remains the challenge

High-quality data is the foundation of auditing. As finance functions become increasingly digitalised, the volume, variety, and velocity of available data are reshaping audit methodology. Digital tools that support advanced analytics and automation enable auditors to extract deeper insights from transactional and operational data, enhance risk assessments, and increase audit coverage. As a result, the audit is evolving into a more dynamic and value-adding process – one that provides not just assurance, but actionable insight.

This transformation is opening up new opportunities to improve the audit experience. Our recent assurance transformation study “Redefining the Audit: The Impact of Digitalisation in Finance and Accounting” reveals that 71 percent of Swiss executives say that providing auditors with documentation and data is by far the most time-consuming part of the audit process. At the same time, 85 percent of organisations are currently transforming their finance function or plan to do so within the next three years – often resulting in fragmented systems, evolving data landscapes, and shifting responsibilities. This increases the need for a flexible, tech-enabled audit approach that can adapt to different levels of digital maturity and meet clients’ needs wherever they are on their transformation journey.

Turning pain points into progress

We listened to our clients – and have rethought how data acquisition can work in a modern audit. The result is a more flexible and centralised approach that simplifies the data experience, reduces manual effort, and improves consistency across engagements. 

This approach, implemented through solutions such as PwC’s Acquisition Hub, connects different systems, tools, and teams, and is built to adapt to the realities of today’s finance functions – from highly automated ERP environments such as SAP or Oracle to custom-built or still-manual solutions. By enabling the seamless extraction and transformation of both structured and unstructured data into a standardised model, this technology platform ensures that data is immediately usable and ready for secure, engagement-specific analysis, regardless of system complexity or digital maturity.

To address the specific needs of the Swiss market, we have developed standardised connectors for core banking systems such as Avaloq and Finnova and are currently building a dedicated Abacus connector to support our clients in Switzerland and make it easier to work with us.

Benefits for our clients: less effort, more clarity, and better outcomes

A major step forward in client friendliness, PwC’s data acquisition capabilities standardise and centralise all data requests. This means less back and forth, fewer follow-ups, and fewer surprises. Clients benefit from a clear and central overview of all requests, including their status, due dates, and related documentation. This increased transparency helps teams stay organised and informed throughout the audit cycle.

With built-in automation and roll-forward capabilities, we are easing the process of providing documentation for client teams and improving capacity planning for everyone involved. And because the technology adapts to each client’s specific system set-up, it delivers value whether they are using advanced automation or are still in the process of digitising their financial operations.

Features of PwC’s data extraction process include:

• A single gateway to manage all data requests at the start of an engagement
• Full transparency and oversight through a centralised interface
• Automated extraction and transformation of data from a wide range of systems
• Built-in data integrity and completeness checks to ensure high-quality inputs
• Roll-forward functionality for reuse of relevant data across audit cycles
• Integrated communication capabilities for efficient collaboration between client teams and PwC

The result? A leaner, more client friendly audit – and easier workflows for our clients.

In short, this streamlined approach reduces the time and effort clients spend preparing documentation, navigating technical systems, and coordinating responses. It helps make the entire audit process smoother, faster, and more connected – allowing clients to focus on their core business, while we handle the data side of the audit.

Data security: a top priority from the start

While streamlining processes and improving the audit experience are key, none of this matters without a strong foundation of trust – and that starts with data security.

Data privacy and security are top concerns for many organisations – 44 percent of study participants cite them as their highest priority when it comes to handling data. At PwC, protecting client data has always been a core commitment. That’s why we’ve built all our digital engines with data security in mind from day one. Our audit technology is developed and operated to meet PwC’s highest security standards, ensuring sensitive information is protected at every stage of the audit process.

Our security policy meets global standards and provides the necessary protection for both our own and our clients’ data. Key requirements include encryption of sensitive data, data segmentation and residency, identity and access management, and a strong focus on reducing the overall attack surface.

Ready for what’s next

At PwC, we support our clients at every stage of their transformation journey – whether they are just starting out or are well advanced. With our audit tech platform, we’ve centralised and streamlined the data acquisition process, making it more efficient and more automated where possible, and easier to manage across multiple years and audit cycles. 

By reducing manual effort for compliance, standardising data, and providing a clear overview of all past, current, and upcoming data requests, we help drive accuracy and a better experience on both sides. And with our highest security standards in place, clients can be confident that their data is protected at every step.