Innovative, cloud-based confirmation and validation tool is the latest module introduced to the cloud-based CCH iFirm suite
Wolters Kluwer Tax and Accounting (TAA) announced the expansion of its award-winning cloud-based practice management and compliance software platform, CCH iFirm, with the introduction of its latest module, CCH iFirm Validate.
Bas Kniphorst said: “We are excited to announce the launch of a new module within our CCH iFirm cloud suite. These innovative solutions are a testament to our dedication to pushing the boundaries of technology and delivering exceptional value to our clients. We are providing powerful tools that enhance scalability, security, and efficiency, enabling businesses to thrive in an increasingly digital world. This launch represents a significant step forward in our mission to drive innovation and excellence in the cloud industry.”
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CCH iFirm Validate is a robust solution that accelerates the audit process by simplifying bank confirmations and account verifications. By harnessing blockchain technology, it offers enhanced data security and integrity. A cloud-based solution, CCH iFirm Validate allows auditors to securely share results with peer reviewers, inspectors, and others involved in the audited business. The resulting expedited banking confirmation significantly streamlines the audit process.
This modern, automated solution replaces traditional manual processes with a secure and efficient alternative. Open banking authorization allows auditors to securely request and receive data, thus supporting a timely audit. Furthermore, Wolters Kluwer patented secure data exchange through blockchain provides an audit trail for key accounting data confirmation with external parties as part of a statutory audit.
The launch of this new cloud-based module follows the launch of CCH iFirm AML in March 2024, which was independently recognized by the 2024 Accountancy Awards and won the Innovative Technology award category. Additionally, CCH iFirm AML was selected as a 2024 Stratus Award for Cloud Computing winner.
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