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Caribbean Association of Audit Committee Members

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8 diapositives · 245 Views · Jul 27, 2014

The Caribbean Association of Audit Committee Members, represented by Peta-Gaye Bartley, highlights the significant time auditors spend on documentation and report preparation—over 40% on average. The TeamMate Audit Management System aims to transform this with features that reduce time on low-value tasks, leading to a reported increase in productivity by 20%-25% in the first year of use. As the industry standard, TeamMate provides a COSO-compatible risk assessment tool, efficient scheduling capabilities, and effective budget management. With over 1,800 organizations and 85,000 users globally, TeamMate is here to stay.

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  1. Caribbean Association of Audit Committee Members Peta-Gaye Bartley 30 July 2013

  2. Review 28% 10% Auditing Report Preparation 6% Planning Documenting 4% Travel & Meetings 3% 33% 9% Scheduling & Timekeeping Other Save Time – Adding Value

  3. Save Time – Adding Value Studies have shown that on average, auditors spend in excess of 40% of their time documenting and reviewing work papers and preparing their reports. TeamMate Audit Management System has been designed as a tool to dramatically reduce time spent on those elements that provide less value. Users report average productivity increases of 20%—25% in the first year of TeamMate use.

  4. TeamMate Product Overview A COSO-compatible risk assessment tool for generating risk based audit plans A state of the art tool for scheduling your staff and audits A web based issues tracking and reporting system Effectively manage budget vs. actual time & expenses TeamStore

  5. Quick Facts about TeamMate • Smallest client has a two team member audit department • Largest client has over two thousand licenses • 1,800 organizations • 85,000 + users • 98 + countries • Largest Audit Software Conference in the World • Formal Focus Groups, Beta Test Groups and Contextual Design Groups • Originally developed by PwC

  6. Benefits of using TeamMate • Risk Assessment • Risk based audit plan • Involvement of process owners in completing risk assessment • Planning • Consistent audit methodology (new audit automatically contain the required format) • Best practices audit programs (AuditNetTeamStores) • Workpaper Preparation • Automated referencing • Working in Teams • Replication - File sharing remotely • Mobile Functionality

  7. TeamMate – Here to Stay • The industry standard – used by three times as many auditors as all other systems combined • TeamMate is part of Wolters Kluwer – a $5 billion company / 20,000 employees • Wolters Kluwer is investing heavily in TeamMate • 400% employee growth in past 4 years • 50% revenue growth over past 4 years

  8. Need more information – visit the TeamMate booth!