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The Institute of Internal Auditors North AmericaBreadcrumb SeparatorNewsBreadcrumb SeparatorRead the Blog: Do You Know What Your Third Parties Are Up To?

Read Richard Chambers' Latest Blog
Do You Know What Your Third Parties Are Up To?

In his blog, IIA President and CEO Richard Chambers, CIA, CGAP, CCSA, CRMA, shares his personal reflections and insights on the internal audit profession. Here's an excerpt from his latest post:

Internal auditors are right to be concerned about third-party risks. The days of a company’s suppliers or partners being well-known and trusted businesses on the same street or town are a distant memory.

In the interconnected, global economy of the 21st century, you are apt to be purchasing raw materials, components, or services from business entities halfway around the world. In turn, these unfamiliar partners may be acquiring subcomponents from other businesses whose very existence may be unknown to us. Third parties can create extraordinary risks for an enterprise, as we have seen played out repeatedly on the global stage.

Read the full Internal Auditor Online blog post from IIA President and CEO Richard Chambers.