For most global companies, the ability to identify, assess, and manage risks posed by third parties is challenging enough without having to worry about their extended corporate families. But by ignoring these fourth parties, companies today are increasingly exposing themselves to a whole new level of financial, regulatory, and reputational risk.
Recent analyses show that many companies still don’t even have adequate visibility into their third parties, and even less so concerning their third parties’ third parties and beyond (so-called Nth parties). These findings were highlighted in a new survey by Opus Global and RapidRatings, in partnership with Compliance Week.
