Audit practices of PricewaterhouseCoopers

This paper discusses the development of the PricewaterhouseCoopers Audit Ap proach (PwCAA), identifies distinctive features of this approach, and provi des information on new development areas. The discussion will provide a sum mary of each of these items and will focus on the distinctive features of t he PwCAA. The article will not cover elements that appear to be consistent with other firm methodologies. Significant consistencies exist since all of the major international firms essentially operate under generally accepted auditing standards, i.e., the International Standards on Auditing (ISA) as established by the International Federation of Accountants. In the United States, they also comply with generally accepted auditing standards (GAAS) as established by the American Institute of Certified Public Accountants (A ICPA).