(RIVERWOODS, ILL., August 17, 2009) – A just released study by the Institute of Internal Auditors (IIA) has confirmed the position of CCH® TeamMate as the industry standard in Audit Management Systems. CCH TeamMate EWP came out as the number one automated workpapers solution in an IIA benchmarking survey of internal auditors. CCH, a Wolters Kluwer business is a leading provider of tax, accounting and audit information, software and services (CCHGroup.com).
As reported in Internal Auditor, the magazine of the IIA, the IT Audit Benchmarking Study 2009 reflected the views of internal auditors from 135 organizations with annual revenues between $1 billion and $10 billion.
Of the respondents who used automated workpapers software, TeamMate EWP was the dominant choice, named by 46 percent. The next-highest solution garnered only 13 percent, and 25 percent of responses were split among a variety of “other” software solutions, including internally-developed ones, and 16 percent relying on Microsoft® Word and Excel®.
“We’re thrilled to have gained such an overwhelming recognition in the internal auditing community,” said CCH TeamMate General Manager and Vice President Mike Gowell. “We also think this position will only be enhanced as more people learn about the success of their peers who use TeamMate.”
The Internal Auditor article recaps some of the “successes” reported by those using software: “Respondents say they use workpapers automation tools to track audit issues and the related responses more easily. They are able to issue draft reports much sooner after finishing their audit fieldwork, and colleagues working on the same assignment can review workpapers from remote locations. Some audit shops have eliminated all hard copies of workpapers, which saves office space and reduces waste.”
Importantly, the study noted that while software solutions can help auditors “do more with less” in tough economic times, some organizations are still not taking advantage of the full range of software solutions. One of these was in the area of risk assessment, where only 39 percent of respondents indicated they use a software solution. In this category, CCH’s TeamRisk was the only named tool being used.
For More Information
For more information on CCH TeamMate, visit CCHGroup.com/TeamMate or call 1- 888-830-5559 for U.S. sales. Members of the IIA can access the Internal Auditor and the IT Audit Benchmarking Study 2009 at the IIA’s web site, theiia.org/intauditor.
About CCH TeamMate
CCH TeamMate is the powerful, award-winning audit management system that has revolutionized the audit process. TeamMate is used by more than 70,000 auditors from more than 1,800 organizations and is the industry standard in Audit Management Systems.
About CCH, a Wolters Kluwer business
CCH, a Wolters Kluwer business (CCHGroup.com) is a leading provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. Among its market-leading products are The ProSystem fx® Suite, CCH® TeamMate, CorpSystem®, CCH® IntelliConnect™, Accounting Research Manager® and the U.S. Master Tax Guide®. CCH is based in Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal, and regulatory sectors. Wolters Kluwer had 2008 annual revenues of €3.4 billion, employs approximately 20,000 people worldwide, and maintains operations in over 35 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Visit www.wolterskluwer.com for information about our market positions, customers, brands, and organization.