The Differences Between Vendor Assessments, Questionnaires, Due Diligence, and Continuous Monitoring
It's not uncommon for vendor risk assessment terms to get mixed up or seem like the same thing. However, while all are important, there are differences to be aware of between questionnaires, risk assessments, due diligence, and continuous monitoring.
These four activities will tell you the type and amount of risk associated with the vendor, the effectiveness of the vendor’s control environment, and whether the risk is changing. This infographic provides a breakdown.
Download the infographic to learn:
- The differences between inherent risk assessments, vendor risk questionnaires, due diligence, and vendor risk assessments
- The what, why, and when of each
- Ongoing activities such as continuous monitoring, risk re-assessments, and due diligence reviews
- Tips to remember