One of the more difficult tasks in managing the corruption risks that come with doing business with third parties is identifying those parties' true beneficial ownership. In too many companies, third-party due diligence stops at the point each party is on-boarded. When information that might indicate changes in beneficial ownership of a third party is captured, too often it is not managed throughout the enterprise in a way that allows for meaningful analysis of changes in corruption risk.
In our latest installment of the GRC Illustrated Series, we look at how to design a set of processes and controls for due diligence to get a continuous view of the owners and other risks associated with third parties.
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