New York, Date – In a significant development, Wolters Kluwer, a renowned global leader in professional information, software solutions, and services, has unveiled a revolutionary product, TeamMate® Document Linker. Designed specifically for accounting firms, this innovative solution promises to enhance audit quality by automating the linking of audit samples to supporting evidence, thereby saving precious time throughout the audit process.
As the auditing landscape continues to evolve, with increasing complexities and regulatory demands, tools like TeamMate Document Linker play a pivotal role in simplifying and enhancing the audit workflow. This software ensures that supporting evidence is not just attached but correctly validated, a critical aspect of audit quality. It achieves this feat by employing cutting-edge optical character recognition (OCR) technology, capable of extracting text from scanned documents, including images of crumpled or poorly maintained documents. This extracted text is then intelligently matched and dynamically linked to the respective sample or work paper.
One of the standout features of TeamMate Document Linker is its seamless integration into the Microsoft Excel interface. This means auditors no longer need to juggle multiple tools and windows to cross-verify data, a time-consuming task that often leads to inefficiencies in the audit process.
Colleen Knuff, the Vice President of Audit Product Management at Wolters Kluwer Tax & Accounting (TAA) North America, expressed her enthusiasm about this groundbreaking solution, saying, “We are excited to offer TeamMate Document Linker as a time-saving solution to external auditors. So often, the tedious task of manually linking supporting evidence to transactions falls to the junior auditor. Not only will this help the junior auditor work more efficiently, but TeamMate Document Linker also streamlines the review and validation process for managers and partners.”
The benefits of TeamMate Document Linker extend beyond efficiency improvements. It seamlessly integrates with other Wolters Kluwer audit solutions, creating a comprehensive ecosystem for auditors. For instance, auditors can utilize TeamMate Analytics to identify risky transactions or select a specific sample dataset. Subsequently, TeamMate Document Linker can be used to establish the crucial connection between these transactions and their supporting evidence. Moreover, documents can be embedded directly into Excel workpapers, making it convenient for auditors. These combined documents can then be easily uploaded to CCH® ProSystem fx® Engagement or CCH Axcess™ Engagement for a streamlined review process.
Wolters Kluwer TAA has a long-standing reputation for empowering tax and accounting professionals and businesses of all sizes. With the introduction of TeamMate Document Linker, they continue to uphold their commitment to driving productivity, simplifying complex processes, and ultimately delivering superior outcomes.
In conclusion, the launch of TeamMate Document Linker marks a significant milestone in the world of accounting and auditing. This innovative solution not only saves valuable time but also elevates the overall quality of audits conducted by accounting firms. As regulatory requirements continue to tighten, tools like TeamMate Document Linker provide auditors with a competitive edge by allowing them to focus on their core responsibilities while the software handles the laborious task of evidence linking. Wolters Kluwer’s commitment to excellence and innovation shines brightly through this game-changing addition to its suite of audit solutions.
For more information about TeamMate Document Linker and how it can transform your audit process, please contact us at 1300 952 286. Wolters Kluwer is committed to excellence and innovation, and this game-changing addition to our suite of audit solutions demonstrates our dedication to empowering your success.