Controls Management Tool Designed Specifically for SOX Compliance Integrates Seamlessly with Audit Management Software for Better View of Risk
Today, Wolters Kluwer Audit, Risk & Compliance announced the availability of its latest offering, TeamMate CM, a controls management tool designed to address compliance standards such as Sarbanes-Oxley (SOX), FDICIA, A-123, and J-SOX.
The new offering is the latest addition to the TeamMate® suite of products, which includes TeamMate AM, the world’s most widely used audit management software system. TeamMate CM can be used as a stand-alone solution or seamlessly integrated with the standard TeamMate internal audit software or other audit tools. This offers significant benefits to organizations across multiple industries since compliance officers and auditors follow different processes, but rely on much of the same data. With harmonized reports and dashboards, TeamMate AM and CM provide the Audit Committee with the single view of risks and controls they seek.
TeamMate CM SOX compliance software takes a new pragmatic approach to SOX management by providing a flexible design that allows quick access to relevant data, while performing multiple activities from a single screen. It draws data from a common knowledge base of risk and control libraries used by both an organization’s compliance and internal audit departments, runs assessments and testing, and then aggregates issues, certifications and reporting into a common dashboard for review.
“We reached out to our existing user base of more than 2,200 organizations to collaborate with professionals who have been managing SOX compliance for 10 plus years. Our research and their feedback indicates the need for a next generation SOX compliance software tool such as TeamMate CM that is more flexible, nimble and cost effective than existing solutions,” said Mike Gowell, vice president and global general manager, TeamMate. “By sharing a single data set, TeamMate CM allows compliance officers and auditors to speak the same language and report consistently across the board. With an easy deployment model and native support for smart phones and tablets, we believe TeamMate CM will revolutionize the industry.”
While a key strength of TeamMate CM is in SOX compliance and its global and government counterparts, it easily helps to manage other compliance management activities where identification, evaluation, testing and certification reporting are required. These expanded capabilities contribute to TeamMate’s mission of accelerating organizations’ success in identifying and managing risks.