Wolters Kluwer Unveils CCH iFirm Validate: Revolutionizing Audits with Blockchain-Powered Validation

Wolters Kluwer Unveils CCH iFirm Validate: Revolutionizing Audits with Blockchain-Powered Validation

(IN BRIEF) Wolters Kluwer has launched CCH iFirm Validate, a new cloud-based module designed to enhance audit processes by using blockchain technology for secure and efficient bank confirmations and account verifications. This tool simplifies traditionally manual tasks, allowing auditors to securely share data, expedite the audit timeline, and improve data accuracy. The new solution is part of the CCH iFirm suite, which already includes CCH iFirm AML, an award-winning module introduced earlier in 2024. This launch strengthens Wolters Kluwer’s position in offering innovative cloud-based solutions for the accounting and auditing sectors.

(PRESS RELEASE) ALPHEN AAN DEN RIJN, 27-Sep-2024 — /EuropaWire/ — Wolters Kluwer Tax and Accounting (TAA) has introduced a new module to its cloud-based CCH iFirm platform, CCH iFirm Validate, aimed at enhancing audit processes through blockchain-driven validation and confirmation. This latest addition to the CCH iFirm suite offers a cloud-based, secure, and automated solution for bank confirmations and account verifications, simplifying what was once a manual and time-consuming task.

Bas Kniphorst, Executive Vice President and Managing Director of Wolters Kluwer TAA Europe, highlighted the significance of this launch, saying, “This innovative solution demonstrates our commitment to leveraging cutting-edge technology to provide enhanced scalability, security, and efficiency. It reflects our broader goal of helping businesses thrive in a digital-first world by pushing the boundaries of cloud-based tools.”

CCH iFirm Validate uses blockchain technology to improve data security and integrity. It allows auditors to securely share audit results with peer reviewers and inspectors, providing a streamlined, efficient alternative to traditional manual processes. By integrating open banking authorizations, auditors can securely request and retrieve necessary data in real-time, expediting the audit timeline and improving overall audit accuracy. The module also features a secure audit trail for external confirmations, ensuring compliance with statutory audit requirements.

This launch builds on the success of CCH iFirm AML, another module introduced earlier in 2024, which has received industry recognition and awards for innovation. With CCH iFirm Validate, Wolters Kluwer continues to lead the way in developing advanced cloud-based solutions for the accounting and auditing industries.

For more details on the CCH iFirm suite, visit Wolters Kluwer’s official website.

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.

Media Contact:

Shannon Wherry
Corporate Affairs & Communications Associate Director
Tax & Accounting
Shannon.Wherry@wolterskluwer.com
Tel: +1 (972) 209-2797

SOURCE: Wolters Kluwer