Deloitte’s established and proven Third Party IDD solutions help clients to overcome the hurdles presented by the legislative requirement to conduct an appropriate level of due diligence on their key third parties around the world.
Increased legislation and regulation, reputational pressures and scrutiny from regulators and law enforcement bodies has meant that companies which rely on a network of third parties for the success of their business – including agents, distributors and key suppliers – may face the daunting prospect of conducting an appropriate level of background checking on hundreds, thousands or even hundreds of thousands, of their third parties.
We have extensive experience of helping clients to identify and mitigate the potential bribery and corruption risks presented by third parties – as well as other operational and reputational issues – through the gathering of independent information (‘Background Checking’, Integrity Due Diligence, or IDD). Deloitte works with our clients to design the most appropriate, efficient and cost effective solution, offering a flexible methodology. The various risk-focused tiers of our Third Party IDD solution include the use of automated public record screening and monitoring tools, researcher-led information gathering, and in-depth consultation with human sources in the relevant industry.
Deloitte has helped clients from a wide range of industries to manage the risks presented by their extensive networks of third party relationships, and to date we have conducted Third Party IDD on tens of thousands of entities and individuals around the world.
Our work has included one-off remediation exercises on existing third parties to help bring our clients in line with current anti-bribery guidance, as well as longstanding and ongoing IDD projects helping our clients to screen new third parties at the outset of each new relationship.
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