Wolters Kluwer launches TeamMate+ AI Editor for auditors

Wolters Kluwer has introduced TeamMate+ AI Editor, a generative AI writing engine designed to support auditors in enhancing the quality and security of audit documentation.

TeamMate+ AI Editor is intended to help auditors overcome productivity challenges and concerns about data protection linked to the adoption of generative AI tools. The tool provides an accessible interface while incorporating measures that ensure sensitive data remains secure and confidential.

"Auditors are increasingly seeking innovative tools that boost productivity and improve the quality of their work. However, concerns about security and data protection, as well as the complexity of generative AI, have presented barriers to adopting and harnessing new technologies. TeamMate+ AI Editor addresses these challenges by providing an easy-to-use, accessible tool that ensures data remains secure and confidential," Frans Klaassen, Senior Vice President and General Manager, Wolters Kluwer Audit & Assurance and Corporate Tax, said.

The AI Editor includes several features to streamline audit work. One of the features, pre-built prompts, is designed to help auditors improve their documentation efficiently. Instead of building custom prompts, auditors can use context-aware suggestions that simplify the process and reduce the time spent on manual revisions.

Prompt variety is another component of the TeamMate+ AI Editor. The tool provides a selection of prompts allowing users to enhance clarity, change the tone of text, summarise lengthy documentation, and translate content into various languages. This aims to address issues such as inconsistency from manual translations and fragmentation caused by multiple contributors.

Data security is a primary consideration in the tool's design. TeamMate+ AI Editor incorporates measures such as data isolation, no data retention, end-to-end encryption, and a personally identifiable information (PII) blocker. These features are intended to offer clients assurance that their data will remain secure and confidential, and will not be used for model training or other purposes.

In addition to data protection, the tool includes safeguards to minimise the risk of inaccuracies or irrelevant outputs. It is designed to help maintain consistency and focus in audit documentation, addressing the challenges that can arise under time pressure, including the need for both detail and readability.

Research recently conducted by Wolters Kluwer and The Institute of Internal Auditors' Internal Audit Foundation indicates increasing interest in AI within the auditing sector. The findings show that 26% of auditors are currently using AI in their audit activities, while 36% are exploring its potential for future use. However, only a minority report advanced proficiency with generative AI, with 76% of audit leaders rating their skills as "novice or beginner." This suggests there is a significant requirement for user-friendly tools that can support auditors without prior expertise in AI technologies.

TeamMate+ AI Editor is positioned as a resource for audit professionals looking to balance efficiency, quality, and data protection when working with audit documentation. The features seek to address common pain points in current audit workflows, such as the time spent on manual revisions, inconsistency in multi-contributor documents, and the risk of data exposure.

Wolters Kluwer is responding to these industry challenges with a solution aiming to both improve documentation practices and address the sector's concerns about security and accessibility when implementing AI technologies.