Wolters Kluwer Tax and Accounting (TAA) has launched the enhanced CCH® Validate, a next-generation, cloud-native bank confirmation platform designed to optimize audit workflows for professionals.
This fully online solution offers audit firms instant, client-authorized data access and streamlined onboarding, aiming to deliver a more efficient and reliable audit experience. The introduction of CCH Validate aligns with Wolters Kluwer’s strategy to integrate automation and innovation into audit processes, fostering higher quality outcomes and increased client satisfaction.
CCH Validate streamlines bank confirmations, providing auditors with enhanced control and speed. It incorporates advanced technologies, including blockchain for tamper-proof assurance, to facilitate 100% bank statement retrieval from financial institutions globally. Cathy Rowe, Senior Vice President of the U.S. Professional Market at Wolters Kluwer Tax & Accounting North America, stated, “This launch introduces a more intelligent and rapid alternative to traditional confirmation tools that often entail manual bank responses and extended waiting periods, thereby assisting firms in mitigating delays and reducing the potential for costly audit failures. By enabling real-time data retrieval through modern technology, CCH Validate simplifies the entire process, offering a more intuitive, efficient, and dependable experience for both firms and their clients.”
The platform’s key features include an entirely online, browser-based interface that allows users to commence operations rapidly. Clients can securely and privately authorize data access, eliminating the reliance on bank response times. CCH Validate also provides a trial option for firms. Its cloud-native architecture is built for scalability, security, and speed, adhering to industry standards such as SOC 1, SOC 2, and ISO 27001 compliance. Initially supporting firms in the U.S., the platform is slated for integration across Wolters Kluwer’s platforms in Canada and the UK in the near future.
Security aspects of CCH Validate are robust, leveraging blockchain technology to ensure that requests are tamper-proof and to provide a comprehensive, immutable audit trail of the end-to-end process. This approach also contributes to fraud prevention by removing human intermediaries from the request response flow.
Wolters Kluwer (EURONEXT: WKL) is a global provider of information, software solutions, and services for professionals across healthcare, tax and accounting, financial and corporate compliance, legal and regulatory, and corporate performance and ESG sectors. The company reported 2024 annual revenues of €5.9 billion, serves customers in over 180 countries, operates in more than 40 countries, and employs approximately 21,600 people worldwide. Headquartered in Alphen aan den Rijn, the Netherlands, Wolters Kluwer assists clients in making critical decisions by offering expert solutions that combine deep domain knowledge with technology and services.
