Third Party Due Diligence – How Much Is Needed, How Much is Enough?

Taylor Twining is the Director of Sales at ethiXbase, an organization dedicated to helping clients in every stage of their third-party compliance lifecycle. He joins Vince Walden to discuss how companies are taking a risk-based approach to third-party due diligence.  ethiXbase helps compliance professionals reduce corruption and bribery risks by providing an end-to-end risk management platform which they can configure and customize to suit their needs. There are two categories of background checks: screening, which is instantaneous and involves inputting a name into a software program designed to monitor compliance watchlists; and enhanced due diligence reports, which is an in-depth analysis report done by humans, with a reduced risk of false positives.  DDQ’s, or due diligence questionnaires, are tools which provide information for risk assessment; they are becoming more widely used in the compliance industry. This information is a critical part of understanding the risks third-parties may bring to your organization.  Resources Taylor Twining on LinkedIn  ethiXbase.com