Katerina Motlova
IBM Specialist
IBM Vs. European Bank
IBM launched a 13-country audit with a major European Bank, using Deloitte as its auditor. FisherITS was engaged mid-audit where 3 of the 13 countries have already completed the audit and received the initial settlement claim, and the remaining countries about the start the process.
During an 8-month audit defence programme we have performed an emergency ILMT deployment across the Bank’s global estate, and successfully negotiated IBM with IBM to accept self-declarations made from ILMT reports for the remaining 10 countries.
Our rigorous commercial negotiations also ensured that the overall audit settlement, primarily contributed by the initial 3 countries, were reduced to approximately 9% of the initial claim.