Wolters Kluwer transforms audit documentation with launch of TeamMate+ AI Editor

NEW YORK--(BUSINESS WIRE)--Wolters Kluwer, a global leader in professional information, software solutions, and services, today announced launch of TeamMate+ AI Editor. This groundbreaking generative AI writing engine is designed to empower auditors to enhance the quality of audit documentation while ensuring industry-leading data protection and safeguards.

Frans Klaassen, Senior Vice President and General Manager, Wolters Kluwer Audit & Assurance and Corporate Tax said: “Auditors are increasingly seeking innovative tools that boost productivity and improve the quality of their work. However, concerns about security and data protection, as well as the complexity of generative AI, have presented barriers to adopting and harnessing new technologies. TeamMate+ AI Editor addresses these challenges by providing an easy-to-use, accessible tool that ensures data remains secure and confidential.”

Key Features of TeamMate+ AI Editor:

• Pre-built Prompts: Auditors are seeking to drive efficiency to reduce time away from core audit activities due to manual revisions.​TeamMate+ AI Editor offers tailored, context-aware suggestions that help auditors improve the quality of their documentation without the need for custom prompt development.
  
• Prompt Variety: Manual language translations can lead to inconsistency and delayed delivery. In addition, documents supported by multiple contributors cause fragmented content and a lack of standardization in tone, structure, and format.​TeamMate+ AI Editor provides a diverse set of prompts to enhance clarity, adjust tone, summarize lengthy text, or translate work into different languages, providing flexible, context-specific support.
  
• Data Protection: To address concerns regarding data leakage and AI systems using sensitive information for model training, TeamMate+ AI Editor includes enhanced data protection functionality. It is designed with industry-leading measures such as Data Isolation, No Data Retention, End-to-End Encryption, and a PII Blocker to ensure customer data remains secure and confidential.
  
• Safeguards: Errors and unclear statements can arise under pressure, presenting auditors with the challenge of balancing relevant detail with readability.​ TeamMate+ AI Editor incorporates functionality to minimize the risk of inaccurate, or irrelevant output, ensuring that the content remains consistent and focused.

TeamMate+ AI Editor is set to revolutionize the way auditors work, providing them with the tools they need to produce high-quality documentation efficiently and securely. Recent research from Wolters Kluwer and The Institute of Internal Auditors’ (The IIA) Internal Audit Foundation showed that 26% of auditors are already using AI within their audit activities while around 36% are researching the future use of AI, demonstrating the appetite for adopting AI-powered technologies. However, 76% of audit leaders surveyed reported their GenAI skills as novice or beginner, indicating they had either no knowledge or only a basic familiarity with the technology. This delineates auditors’ need for accessible, easy-to-use tools that are designed to drive value and productivity.

For more information, please visit: AI tools for internal audit | Wolters Kluwer

About Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.

Wolters Kluwer reported 2024 annual revenues of €5.9 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,600 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

For more information, visit www.wolterskluwer.com, follow us on LinkedIn, Facebook, YouTube and Instagram.