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Effective Third-Party Risk Assessment – A Balancing Process

  • Isaca
  • — 21 Jul 2016, 7:19 p.m.

The vendor risk assessment is the lynchpin of every effective third-party risk management program. In theory, the essential components of an assessment are easily determined. However, in practice, the ability to effectively understand and assess third-party controls usually conflicts with the resources available to perform the assessments, and is further handicapped by the need to rapidly conclude assessments so contracts can be finalized and projects begun. All too often this results in asse...

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