Service
Third-Party Risk Assessment
A structured assessment of material risks associated with vendors, suppliers, contractors and commercial partners. The review considers the nature of the proposed relationship, the importance of the third party to the client and available evidence across relevant risk areas to help identify issues that may require further verification, mitigation or monitoring.
Assessment areas may include
- Corporate identity, ownership and management
- Integrity and reputational risk indicators
- Regulatory and compliance considerations, where relevant, legally appropriate and supported by available information
- Sanctions and watchlist exposure, where relevant and information is available
- Litigation and adverse-information indicators
- Operational and business-continuity indicators
- Geographic and jurisdictional risk considerations
- Relevant dependency or concentration indicators
- Material commercial inconsistencies
- Information, documentation and verification gaps
- Risk findings and recommended areas for further action
Standard scope
Third-Party Risk Assessment is individually scoped according to the nature, significance and risk profile of the proposed or existing third-party relationship. A standard engagement generally covers one principal third party and the risk areas considered material to the client’s stated commercial purpose. The depth of assessment may vary according to jurisdiction, available information and the complexity of the relationship.
The assessment is based on lawfully accessible information and information legitimately provided for the engagement. It does not constitute a legal or regulatory compliance opinion, financial audit, cybersecurity audit, technical security assessment, certification, forensic investigation or guarantee of a third party’s present or future performance. Where specialist legal, financial, technical or regulatory analysis is required, this should be obtained from an appropriately qualified professional.
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Tell us what you need verified. We will respond regarding scope, timing and fees.