Latest news with #WoltersKluwerTeamMate
Business Wire
07-05-2025
- Business
- Business Wire
New Survey from Wolters Kluwer reveals internal auditors plan to double AI adoption by 2026
NEW YORK--(BUSINESS WIRE)--Wolters Kluwer, a global leader in professional information, software solutions, and services, has released compelling survey findings on the current levels of adoption, future plans and key drivers related to Artificial Intelligence (AI) in internal audit. The survey shows that 39% of internal auditors are already employing AI and a further 41% intend to adopt AI in the next 12 months. Frans Klaassen, Senior Vice President and General Manager, Wolters Kluwer Audit & Assurance and Corporate Tax said: 'The findings of our research show that AI is set to transform internal audit in the next 12 months, with adoption set to double to 80%. Over half of internal auditors identified productivity and efficiency gains as the key advantage of AI adoption in the coming year. To realize the transformative potential of AI, auditors will need access to advanced, secure technologies to optimize their operations. As a global leader in audit and assurance, Wolters Kluwer TeamMate is committed to continuous innovation to bring cutting edge and award-winning solutions to the market.' Key findings include: AI adoption in internal audit set to increase by 100% The survey revealed that AI adoption will double to 80% in 2026 as 39% of internal auditors are already employing AI and a further 41% intend to adopt AI in the next 12 months. This increase in adoption may be vital, as 46% of respondents indicated that AI adoption in their internal audit function was lower than in other areas within the same business, and only 21% identified that AI adoption was higher than other areas. Key drivers for increasing AI adoption? Enhancing skills and access to technology 45% of survey respondents identified training in AI skills and tools as the greatest positive impact on increasing AI adoption and 84% would consider AI skills as important when recruiting for their internal audit function. 27% of respondents identified access to dedicated AI-powered internal audit technologies as the key driver behind AI adoption. 15% cited the need for robust business-wide governance, and 13% highlighted the importance of internal audit leadership setting an example for AI adoption. Productivity is the key reward of AI adoption for internal auditors Looking at the key advantages of AI adoption, 54% of respondents reported that AI will drive efficiency and productivity gains in the next 12 months for internal auditors. 24% shared that AI will free up auditors to focus on higher-value strategic activities and 13% expect AI to increase accuracy and reduce human error. The survey was conducted with 4,214 Internal Audit professionals on April 30, 2025 during Navigating AI in Internal Audit: Opportunities and Challenges, a webinar from Wolters Kluwer TeamMate. This survey underscores the growing importance of AI in internal audit and the need for businesses to invest in AI training and technologies to drive further adoption and realize the benefits of this transformative technology. 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 follow us on LinkedIn, Facebook, YouTube and Instagram.
Yahoo
03-03-2025
- Business
- Yahoo
Wolters Kluwer to share strategic insights on Integrated Assurance at The IIA 2025 Great Audit Minds Conference
Industry expert to provide critical insight on the role of integrated assurance NEW YORK, March 03, 2025--(BUSINESS WIRE)--Wolters Kluwer, a global leader in professional information, software solutions and services, today announces Jim Pelletier, CIA, CGAP, Lead Product Manager for Wolters Kluwer TeamMate, will present an expert panel at the upcoming 2025 IIA Great Audit Minds (GAM) conference on March 11, 2025. Pelletier will lead a panel discussion focused on "The Journey to Integrated Assurance: Going Beyond Connected Risks". The panel will discuss the evolution of internal audit beyond traditional silos and the importance of embracing integrated assurance: a collective approach that coordinates risk management and assurance activities across the organization. Frans Klaassen, Senior Vice President and General Manager, Wolters Kluwer TeamMate, said: "A recent Wolters Kluwer TeamMate report showed that 40% of organizations struggle with duplicative assurance efforts, underscoring the critical importance of integrated assurance. We are excited to have Jim Pelletier speaking at the upcoming IIA GAM event and sharing his expert insights into how organizations can achieve clarity in how risks are managed and reported in order to enable informed decision-making. The IIA GAM panel session follows the recent publication of new research from Wolters Kluwer TeamMate "Paving the Way to Integrated Assurance: A Proactive Approach." This report outlines the critical role integrated assurance plays in risk management and organizational success in today's complex business environment. Wolters Kluwer TeamMate is part of the Wolters Kluwer Corporate Performance & ESG (CP & ESG) division. The division is the world's leading provider of integrated software solutions for EHS, ESG, Corporate Performance Management and Audit and Assurance. Through innovative technology and unique expertise, Wolters Kluwer CP & ESG enables business leaders to make informed, strategic decisions driving transformation, performance and risk management for a sustainable and resilient world. For more information about Wolters Kluwer, please visit: 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 21,400 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands. For more information, visit follow us on LinkedIn, Facebook, YouTube and Instagram. View source version on Contacts Media Contact Sarah WhybrowAssociate Director, External CommunicationsCorporate Performance & ESGWolters KluwerMob: +44 7855 Sign in to access your portfolio
Yahoo
06-02-2025
- Business
- Yahoo
Wolters Kluwer releases new report highlighting key trends, challenges and opportunities in Integrated Assurance
NEW YORK, February 06, 2025--(BUSINESS WIRE)--Wolters Kluwer, a global leader in professional information, software solutions and services, today announced the launch of a new report Paving the Way to Integrated Assurance: A Proactive Approach." This report outlines the critical role integrated assurance plays in risk management and organizational success in today's complex business environment. Based on a comprehensive global survey of 850 audit and assurance professionals, the report highlights the need for sustainable approaches to breaking down "silos" within risk management and assurance functions, which can result in inefficiencies, duplicative efforts, and incomplete reporting. Key findings Only 16% of organizations have aligned their risk management efforts effectively with clear communication across their functions 40% of organizations struggle with duplicative assurance efforts, and 64% maintain multiple risk libraries Over half (56%) indicated a "strong" or "critical" need for greater alignment, communication, coordination, and collaboration Jim Pelletier, Lead Product Manager at Wolters Kluwer TeamMate, said: "Integrated assurance isn't just a concept. It's an essential approach for organizations to achieve clarity in how risks are managed and reported in order to enable informed decision making. Organizations that invest in advanced technologies, drive coordination and alignment and empower leadership from internal audit will be better positioned to understand, align and act on their risk management and assurance strategies." Key Insights Adoption of the Three Lines Model: 93% of organizations have adopted the Three Lines Model to some extent, reflecting its near-universal acceptance and the value it brings in delineating the critical roles played by each of the three lines. Partial/incomplete versions of the truth: Only 16% of respondents feel their risk management efforts are "clear and fully aligned." At the same time, 31% lack a common risk taxonomy and 57% have different risk rating methodologies. This can lead to fragmented risk and assurance information with multiple versions of the truth. Consistent, unbiased evaluations of enterprise risk are critical in enabling informed decision-making by boards and executive leadership. Assurance fatigue and the impact on the bottom line: 40% of respondents report challenges with duplicative assurance efforts. In addition, the majority aren't coordinating their assurance activities (61%) and are managing multiple risk libraries in their organization (64%). The lack of coordination causes inefficiency, particularly across the second and third lines. This places a greater burden on the first line which can draw focus from their primary commercial and operational responsibilities. Need for Greater Collaboration: The survey indicates a strong need for improved communication, coordination, and collaboration, with 56% of respondents highlighting a "strong" or "critical" need for change. Agile and aligned collaboration and communication is a vital driver in enabling and accelerating organizational response when new risks emerge. For more information, download the full survey. 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 2023 annual revenues of €5.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,400 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands. For more information, visit follow us on LinkedIn, Facebook, YouTube and Instagram. View source version on Contacts Media Contact Sarah WhybrowAssociate Director, External CommunicationsCorporate Performance & ESGWolters KluwerMob: +44 7855 Sign in to access your portfolio
Associated Press
06-02-2025
- Business
- Associated Press
Wolters Kluwer releases new report highlighting key trends, challenges and opportunities in Integrated Assurance
Wolters Kluwer, a global leader in professional information, software solutions and services, today announced the launch of a new report Paving the Way to Integrated Assurance: A Proactive Approach.' This report outlines the critical role integrated assurance plays in risk management and organizational success in today's complex business environment. Based on a comprehensive global survey of 850 audit and assurance professionals, the report highlights the need for sustainable approaches to breaking down 'silos' within risk management and assurance functions, which can result in inefficiencies, duplicative efforts, and incomplete reporting. Key findings Only 16% of organizations have aligned their risk management efforts effectively with clear communication across their functions 40% of organizations struggle with duplicative assurance efforts, and 64% maintain multiple risk libraries Over half (56%) indicated a 'strong' or 'critical' need for greater alignment, communication, coordination, and collaboration Jim Pelletier, Lead Product Manager at Wolters Kluwer TeamMate, said: 'Integrated assurance isn't just a concept. It's an essential approach for organizations to achieve clarity in how risks are managed and reported in order to enable informed decision making. Organizations that invest in advanced technologies, drive coordination and alignment and empower leadership from internal audit will be better positioned to understand, align and act on their risk management and assurance strategies.' Key Insights Adoption of the Three Lines Model: 93% of organizations have adopted the Three Lines Model to some extent, reflecting its near-universal acceptance and the value it brings in delineating the critical roles played by each of the three lines. Partial/incomplete versions of the truth: Only 16% of respondents feel their risk management efforts are 'clear and fully aligned.' At the same time, 31% lack a common risk taxonomy and 57% have different risk rating methodologies. This can lead to fragmented risk and assurance information with multiple versions of the truth. Consistent, unbiased evaluations of enterprise risk are critical in enabling informed decision-making by boards and executive leadership. Assurance fatigue and the impact on the bottom line: 40% of respondents report challenges with duplicative assurance efforts. In addition, the majority aren't coordinating their assurance activities (61%) and are managing multiple risk libraries in their organization (64%). The lack of coordination causes inefficiency, particularly across the second and third lines. This places a greater burden on the first line which can draw focus from their primary commercial and operational responsibilities. Need for Greater Collaboration: The survey indicates a strong need for improved communication, coordination, and collaboration, with 56% of respondents highlighting a 'strong' or 'critical' need for change. Agile and aligned collaboration and communication is a vital driver in enabling and accelerating organizational response when new risks emerge. For more information, download the full survey. 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 2023 annual revenues of €5.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,400 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands. Sarah Whybrow Associate Director, External Communications Corporate Performance & ESG Wolters Kluwer Mob: +44 7855 186713 INDUSTRY KEYWORD: LEGAL TECHNOLOGY FINANCE SECURITY CONSULTING ACCOUNTING PROFESSIONAL SERVICES SOFTWARE DATA ANALYTICS DATA MANAGEMENT SOURCE: Wolters Kluwer Copyright Business Wire 2025. PUB: 02/06/2025 11:06 AM/DISC: 02/06/2025 11:06 AM
