New TeamMate Report Identifies Best Practices for Enhancing Risk Assessments and Audit Planning

ORLANDO, Fla.--()--Audit leaders from around the globe are seeking to fine-tune their risk assessment and audit planning activities to better address the dynamic nature of their rapidly changing risk environments. TeamMate, a part of Wolters Kluwer Tax & Accounting, today released a new research report at The Institute of Internal Auditors' 2017 General Audit Management Conference that centers on a set of 10 recommendations for audit leaders to consider to strengthen their risk assessment and planning activities.

“There is much to be gained when an internal audit function and its key stakeholders share a common perspective with regard to the major risks facing an organization”

"The ability of an internal audit function to assess an organization’s complete risk environment rests on its ability to identify, in a timely manner, changes in the organization’s risk profile," says Mike Gowell, General Manager of TeamMate. "TeamMate discussions with audit leaders clearly indicate that strategic, macro, emerging and cyber risks are increasingly becoming a top priority for leading internal audit groups," he adds, citing trends to a more continuous risk assessment process and corresponding move to more dynamic audit planning.

“There is much to be gained when an internal audit function and its key stakeholders share a common perspective with regard to the major risks facing an organization,” says Michael Sekoni, VP & General Auditor, AF Group.

Additional best practices can be found in the just-released TeamMate Audit Technology Insights report, “Enhancing Risk Assessments & Audit Planning: 10 Key Considerations.” The report focuses on how audit leaders from large and small organizations alike are supplementing their own insights and capabilities in the risk arena with those of outside third parties specializing in risk identification.

TeamMate, part of Wolters Kluwer Tax & Accounting, is the world's most widely-used internal audit management system, with more than 100,000 auditors at over 2,500 organizations using the solution globally. State-of-the-profession tools help auditors manage all aspects of electronic working paper creation and management, risk identification and assessment, control framework management and data analysis. TeamMate automates core processes to free up teams to address a new world of business risks and opportunities.

About Wolters Kluwer Tax & Accounting

Wolters Kluwer Tax & Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency.

Wolters Kluwer Tax & Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

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Contacts

Wolters Kluwer Tax & Accounting
LAURA GINGISS
847-267-2213
Laura.Gingiss@wolterskluwer.com

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New TeamMate Report Identifies Best Practices for Enhancing Risk Assessments and Audit Planning

Wolters Kluwer Tax & Accounting