Dos And Don'ts Of Responding To Software Vendor Audits

From the key products and services offered to their customers to critical back-office functions like accounting and regulatory reporting, financial institutions rely on licensed software to perform many of their most important functions. But what happens when a vendor seeks to conduct an audit of the financial institution's use of the software it licenses to the financial institution? We canvass best practices for responding to audits to prevent business disruption, avoid conflict and strengthen vendor relationships.