What is ChatAssurance and what does it do?
ChatAssurance is PwC’s newly launched research assistant for our people. It’s an interactive, AI chatbot, and we’re thrilled to share that it’s now being used by all members of our Australian Assurance team – allowing us to respond to your queries more quickly, accurately and consistently.
Our people can ask ChatAssurance a question, for example, about the impact of a current or future accounting standard, by typing that question into the chatbot. ChatAssurance will respond by generating a plain English answer, sourced solely from Viewpoint – our trusted PwC knowledge system of accounting, sustainability, auditing and reporting guidance.
The value of ChatAssurance is that it generates answers to our questions solely from the guidance we’ve created across our extensive global network.
The latest information from our global experts – at our fingertips
ChatAssurance searches for answers from material populated by our accounting, auditing and sustainability experts from around the globe. This material is kept up-to-date and includes our thought leadership on new and emerging industries, topics and standards. This means ChatAssurance will search for answers across the guidance we’re applying today, as well as the guidance we’ll need to apply in the future.
Chat Assurance isn’t predictive, reducing the risk of AI hallucination. If our network of experts hasn’t formed a view on a certain issue – if the information isn’t part of our extensive global knowledge library – then ChatAssurance won’t generate an answer to a related question.
How does ChatAssurance benefit me as a client?
With access to the latest information from our global knowledge system via ChatAssurance, we’ll respond to your queries more quickly, accurately and consistently so you can:
- Have confidence that our depth of research is even better than before.
- Have high-calibre conversations with your PwC audit team about issues affecting your business, at a speed that wasn’t previously achievable.
- Get our immediate feedback on the types of risks and issues you should be thinking about while we complete our more detailed research, helping you focus on what’s relevant and giving you more time to make decisions.
If you’re a client with multinational operations applying international standards, you can also ask us questions about accounting, auditing and sustainability in other territories in which you operate – and ChatAssurance will allow your PwC engagement team to give you consistent answers across those territories.
“PwC's ChatAssurance allows our clients to get their queries answered faster, and with greater confidence and cross-border consistency. ChatAssurance frees up our clients to spend more time thinking, so they can make smarter decisions, sooner.”
Paul ShepherdCorporate Reporting Services, Partner, PwC AustraliaHow does ChatAssurance work?
Chat Assurance
The days of looking up hard copies of accounting standards are long gone. ChatAssurance means that keyword searches are also a relic of the past, with AI helping us research accounting standards and other documentation.
With ChatAssurance, our people can ask a question in plain English. In response, ChatAssurance will read our guidance to find the specific, relevant guidance, rather than looking for keyword tags like before. ChatAssurance will then deliver a summary of our guidance, together with links to the information source – allowing us to answer your questions with greater speed, accuracy and consistency.
Next time you’re talking to a member of your PwC audit team, ask them to show you how ChatAssurance works.
Find out more about next generation audit here.
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