The firm says its investment in new technologies will help it become the auditor of the future that can pick up the risk of fraud and material misstatements. The $12 billion will help PwC increase its staff headcount from around 270 000 people today to over 350 000 in five years. So, the investment in technology is a big thing for PwC. He said PwC was mindful of the perceived risk of independence when auditors perform too much non-audit work for clients. But that clients' audit committees impose a cap of roughly 20% on how much the firm can earn from these services.

Source: News 24 June 15, 2021 16:18 UTC