Third Party Risk Assessment

Have you had an independent third party risk assessment?

All too often I see companies who haven't done any risk assessment or have never had an independent review of their practices. They either say they don't have time or money or have zero appetite to do so.

Independent risk assessments perform an invaluable function for your compliance program. Sometimes a new set of eyes can help you see things differently and help to properly prioritize action.

Whether you do a full or a partial risk assessment, it's always a good idea to have someone else come in BEFORE a regulator comes to your door.

Today, I encourage you to think about this and the potential benefits to your compliance program.