Third Party Attestation 2022
Third Party Attestation 2022
Organisations grapple with a rapidly evolving set of risks facing their companies. Third party attestation has become an increasingly important tool for creating trust and efficiency across supply chains and vendor relationships.
Third party attestation (TPA) involves certifying the processes of outsourced service providers to ensure the proper procedures are being followed. As organizations deal with a rapidly evolving set of risks and challenges - and increasingly outsource non-core activities - TPA has become an increasingly important tool for creating trust within organisations and across external vendor and client relationships.
For example, many organizations outsource cybersecurity efforts to a dedicated provider with cybersecurity expertise. This is understandable—for many companies, cybersecurity is not a core competency. But outsourcing these procedures brings along its own risks, including potential reputational, compliance, privacy, financial, and operational risks if an attack were to take place.
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