Episode 29 — Building Blocks for an Effective Due Diligence Program (Part II of III)

Companies continue to face significant risks from their third parties.  In response, companies are implementing sophisticated due diligence and third party risk management systems.  FCPA enforcement risks are only one of several risks created by a company’s third parties.  Companies have to screen and review their third parties for corruption, sanctions, money laundering, antitrust, human trafficking, child labor and reputational risks.

In this three-part series, Michael Volkov describes the law and enforcement risks, basic requirements for a third-party management system, and a problem-solving approach to difficult third-party risk issues.

In Part I, Michael Volkov discusses the law and government expectations for a third-party risk management system.

In Part II, Michael Volkov discusses the building blocks for an effective due diligence system.

In Part III, Michael Volkov discusses solutions to common due diligence problems.

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