Joe Murphy (firstname.lastname@example.org) is a Senior Advisor at Compliance Strategists, SCCE’s Director of Public Policy, and Editor-in-Chief of CEP Magazine.
We all know that dealing with third parties creates risk that needs to be addressed. One way to do this is to be sure the third party has its own compliance and ethics program.
In the past, diligence on third parties has included little check boxes (e.g., Do you engage in bribery? Is anyone in the business a government official?). Other times, the third party was asked to agree to follow the company’s code of conduct, although this made little sense.