“ABN AMRO chose to work with Atos due to its global reach and strength in providing risk and compliance consultancy services. After the initial success of the project, we are now exploring further collaboration opportunities on other key projects with Atos.”

ABN AMRO Bank is an international bank with European roots. It has a broad global network with assets in excess of US$600 billion and is found in almost 60 countries around the world.

Business Challenges

• Comply with Sarbanes-Oxley Act
• Assess the effectiveness of the company’s internal control over financial reporting
• Achieve worldwide compliancy across all SBUs (Small Business Units) within ABN AMRO

Solution

• Measuring the impact of both the financial and disclosure risks to the operations of the bank, its subsidiaries and branches
• Determining the business cycles to be documented and tested
• Creation of minimal control templates and detailing control activities that should be in place in order to cover the risks
• Identifying gaps in the early design of existing control processes and to suggest remedial solutions when required
• Testing control activities based on quality benchmark controls
• Identifying gaps in the operation of control activities and in providing speedy remedial solutions instead of delaying the rollout
• Preparing assertion reports that are compliant with international standards

Benefits

• A better understanding of the extent of its divergent issues, their impact and how these issues can be resolved effectively using Atos’ compliance methodology as a benchmark.
• Creation of a higher management control process
• ABN AMRO is now able to provide an independent quality assurance of its current controls and documentation
• Early identification of high threat levels for missing controls, controls designed inadequately, or controls that were not operating effectively
• Reinforcing of its brand positioning as one of the premier banking institutions globally

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