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The Institute of Internal Auditors Selects CCH TeamMate Software for Internal Audit Quality Assessments Worldwide
(RIVERWOODS, ILL., May 8, 2008) – Wolters Kluwer Tax and Accounting, a leading provider of information, services and software solutions serving tax, accounting and audit professionals worldwide under the CCH brand name, today announced that it has entered into a strategic cooperation agreement with The Institute of Internal Auditors, Inc. (IIA), an international professional association of more than 150,000 members in 165 countries. CCH, a Wolters Kluwer business will provide The IIA the use of CCH TeamMate, the leading integrated audit productivity software suite serving corporate internal audit departments and government agencies in 96 countries. The IIA, with global headquarters in Altamonte Springs, Fla., will utilize CCH TeamMate both for its own internal audit needs and to enhance its quality assessment (QA) services.
“The cooperation agreement between The IIA and CCH is great news for internal audit professionals,” said IIA President, David A. Richards, CIA. “As the profession’s acknowledged leader and recognized authority, The IIA is committed to improving internal audit activities worldwide. With the use of CCH TeamMate, The IIA’s QA services will be accelerated and enhanced, providing our members a quicker determination of whether their internal audit activities comply with the highest standards and ethics advocated by The IIA for the internal audit profession worldwide,” he said. The IIA’s Quality Assessment program has provided external QAs for more than 250 organizations in North America since 2005.
Over 60,000 auditors from more than 1,500 organizations worldwide use TeamMate to increase the efficiency and productivity of the entire audit process, including risk assessment; scheduling and timekeeping; workpaper preparation and review; report generation; and audit issue tracking. Customers include Fortune 100 and Fortune 500 corporations, small- and medium-size enterprises and government agencies.
The TeamMate suite consists of five key products that can be used independently or with other components of the suite. Those products are: TeamMate EWP, electronic workpaper system; TeamCentral, audit issues tracking; TeamRisk, risk assessment tool; TeamSchedule, advanced scheduling; and TeamMate TEC, time and expense tracking.
“We are very pleased to partner with The Institute of Internal Auditors and facilitate The IIA’s commitment to improving internal audit activities worldwide,” said Mike Gowell, vice president and general manager of CCH TeamMate. “We are honored that The IIA has chosen to use CCH TeamMate both for its internal audit needs and in connection with IIA’s worldwide Quality Assessment program, and we are delighted that The IIA has embraced CCH TeamMate as a core element of this commitment to excellence.”
About The Institute of Internal Auditors
The Institute of Internal Auditors is an international professional association of more than 150,000 members and is recognized as the internal audit profession’s leader in certification, education, research and technological guidance. The IIA is represented worldwide through 96 institutes and has 153 chapters in the United States, Canada and the Caribbean.
The International Standards for the Professional Practice of Internal Auditing (Standards) mandated in 2002 that internal audit activities be subjected to an independent external QA every five years. A s evidence of its commitment to improving internal audit activities worldwide, The IIA offers external QA services to any organization wishing to validate and/or strengthen its internal audit activity. For more information, visit www.theiia.org/Quality.
About Wolters Kluwer Tax and Accounting
Wolters Kluwer Tax and Accounting, a unit of Wolters Kluwer, is a leading provider of tax, accounting and audit research and compliance information, services and software solutions. Serving professionals worldwide, Wolters Kluwer Tax and Accounting operates in the market as CCH, a Wolters Kluwer business. CCH has served tax, accounting and business professionals and their clients since 1913.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services globally for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory sectors. Wolters Kluwer has annual revenues (2007) of €3.4 billion ($4.8 billion), maintains operations in over 33 countries across Europe, North America and Asia Pacific and employs approximately 19,544 people worldwide. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. For more information, visit www.wolterskluwer.com.
This press release contains forward-looking statements. These statements may be identified by words such as “expect,” “should,” “could,” “shall,” and similar expressions. Wolters Kluwer cautions that such forward-looking statements are qualified by certain risks and uncertainties that could cause actual results and events to differ materially from what is contemplated by the forward-looking statements. Factors which could cause actual results to differ from these forward-looking statements may include, without limitation, general economic conditions; conditions in the markets in which Wolters Kluwer is engaged; behavior of customers, suppliers, and competitors; technological developments; the implementation and execution of new ICT systems or outsourcing; and legal, tax, and regulatory rules affecting Wolters Kluwer’s businesses, as well as risks related to mergers, acquisitions, and divestments. In addition, financial risks such as currency movements, interest rate fluctuations, liquidity, and credit risks could influence future results. The foregoing list of factors should not be construed as exhaustive. Wolters Kluwer disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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