Due Diligence Checklist for Third-Party Risk Management

This guide provides a comprehensive due diligence checklist aimed at managing third-party bribery and corruption risk in 2024. It outlines the importance of due diligence in the context of increasingly stringent Anti-Bribery and Corruption (ABC) regulations, emphasizing the need for companies to conduct thorough investigations to mitigate risks associated with supply chains. The document details how due diligence is essential not only for compliance but also for addressing Environmental, Social, and Governance (ESG) impacts, which are now critical for stakeholders. The checklist is designed to assist organizations in evaluating the risks posed by potential business partners and ensuring adherence to relevant laws, including the UK’s Bribery Act and the US Foreign Corrupt Practices Act. It highlights the necessity of a risk-based approach to due diligence, encouraging companies to ask pertinent questions regarding their third-party relationships and compliance with international regulations. Additionally, it presents key global legislation against bribery and corruption, providing insights into the legal landscape that companies must navigate.