Closing the Gaps in Third-Party Risk Management

Third-party relationships are growing in importance to all types of organizations in all industries. Helping to manage and control the risks associated with a company’s relationships with third parties would seem to be a natural role for an internal audit department.

In view of this emerging risk, The Institute of Internal Auditors Research Foundation and Crowe Horwath LLP conducted a cross-industry survey of 164 chief audit executives to assess the level of involvement of internal audit in monitoring third-party relationships.

This research report gives internal audit leaders key perspectives that will help them plan for their involvement in building and managing a third-party risk program at their organizations.