Latest news with #PwCIsrael
International Business Times
25-04-2025
- Business
- International Business Times
Building the Future: Q&A with Pavel Sheynkman Pavel Sheynkman on Generative AI, Cloud Innovation, and Preparing the Workforce of Tomorrow
Generative AI, cloud infrastructure, and digital workforce development are shaping the future of global industries, and at the heart of that transformation is Pavel Sheynkman, CTO of PwC Israel. With two decades of experience spanning defense technology and enterprise innovation, Sheynkman now leads initiatives redefining how businesses use AI at scale. In this Q&A, he shares insights on building responsible AI, launching Israel's first large-scale private cloud, and preparing thousands of professionals for the tech landscape ahead. Q: Pavel, you've had a long and diverse career in technology. How did your early work shape your current role at PwC Israel? Sheynkman: My background in Israel's defense forces, where I served as CTO and VP of R&D, helped me understand what it means to build mission-critical, reliable software under intense pressure. Those experiences trained me to think about system design with precision and accountability skills that translate directly into the commercial and enterprise sectors I work in today. Q: How is PwC Israel applying generative AI in practical ways? Sheynkman: We've deployed AI systems across industries including manufacturing, healthcare, and finance. For example, we developed a predictive maintenance system for a large manufacturing client that reduced downtime by 35% and helped avoid millions in potential losses. AI is more than a trend it's a powerful force for operational transformation when used responsibly. Q: The AI industry is scaling rapidly. How do you see PwC Israel positioning itself in that growth? Sheynkman: The global AI market is projected to grow from US$150.2 billion in 2023 to US$1.35 trillion by 2030. At PwC Israel, we're delivering AI solutions that are scalable, secure, and customized to each client's needs. Our strength lies in combining cutting-edge innovation with implementation expertise. Q: You've also been instrumental in advancing cloud computing. Tell us more about that. Sheynkman: We created Israel's first large-scale private cloud platform. It offers secure, scalable infrastructure for enterprises modernizing their tech stacks. One client saw a 40% increase in operational efficiency after adoption. As global IT spending climbs toward US$5.74 trillion in 2025, strong cloud infrastructure is vital. Q: How does PwC Israel ensure ethical and reliable AI implementation? Sheynkman: Our development process includes thorough validation testing and regular system audits. We also have an AI Review Board made up of experts from various disciplines to evaluate the social and operational impact of every project. This safeguards transparency and builds long-term client trust essential when 44% of companies still struggle with successful AI implementation. Q: What's your approach to workforce development in the age of AI? Sheynkman: We're training 10,000 professionals over the next five years through a hands-on technical development program. The curriculum blends theory with real-world application. According to CompTIA, tech jobs will grow from 6 million in 2024 to 7.1 million by 2034. We're making sure the workforce is equipped to meet those demands. Q: What motivates you as you look to the future? Sheynkman: I'm excited by how human potential can be enhanced through AI not replaced. The goal is to build a future where people and intelligent systems work together harmoniously. That's the real promise of this technology. Under Pavel Sheynkman's leadership, PwC Israel is advancing beyond buzzwords to deliver AI and cloud systems with tangible business results. With a strong foundation in ethical innovation and a commitment to future-ready talent, Sheynkman continues to influence how organizations adapt to the demands of the digital age. As global interest in AI accelerates, his work serves as a blueprint for responsible growth and lasting impact.
Yahoo
27-02-2025
- Business
- Yahoo
PCAOB sanctions PwC Israel member firm for training violations
The Public Company Accounting Oversight Board (PCAOB) has imposed sanctions on Kesselman & Kesselman C.P.A.s, a member firm of PricewaterhouseCoopers International (PwC Israel). The firm is penalised for breaching PCAOB quality control standards, particularly concerning integrity and personnel management, over a span of five years, from 2017 to 2022. During this time, PwC Israel failed to identify or prevent widespread improper sharing of answers in mandatory internal training tests. Throughout the five-year period, a number of PwC Israel staff members engaged in sharing test questions and answers improperly. This occurred during online tests for mandatory internal training courses that covered US auditing practices, professional independence, and ethics. PCAOB chair Erica Williams said: 'The PCAOB will not tolerate cheating or other unethical behaviour at PCAOB-registered audit firms, regardless of whether the firm is located in the US or abroad. 'We will hold firms accountable when they put investors at risk by failing to comply with the PCAOB's quality control standards.' The PCAOB has been proactive in addressing similar issues across the sector, having sanctioned ten registered firms since 2021 for quality control deficiencies related to inappropriate answer sharing on internal exams. PwC Israel, without admitting or denying the PCAOB's findings, has consented to pay a $2.75m (NIS9.81m) civil penalty. In addition to the financial penalty, the PCAOB censured the firm and mandated a review and enhancement of its quality control policies and procedures. PwC Israel is expected to ensure that its personnel maintain integrity during internal training and report back to the PCAOB within 150 days. The investigation leading to the sanctions was conducted by PCAOB enforcement staff members David Florenzo, Thomas McCann, and Tiffany Johnson, under the supervision of William Ryan and John Abell. The PCAOB is responsible for monitoring auditors' compliance with the Sarbanes-Oxley Act, relevant securities laws, professional standards, and both PCAOB and SEC regulations. This action follows the US PCAOB's recent withdrawal of two proposed disclosure rules after consultations with the SEC. "PCAOB sanctions PwC Israel member firm for training violations " was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
