Compliance – third party due diligence
Within compliance, due diligence of third parties is an increasingly important part of most companies and organisations’ routines, especially in the cases where a significant part of their business is conducted internationally. It is also an area that is notoriously difficult to get started with and a task you sometimes end up spending very considerably amounts of time or resources on.
During this course you will learn how to manage and put in place a due diligence programme, and get insights into conducting your own due diligence research or how to effectively engaging provider to do so. Please note that the focus of this course is on integrity due diligence, i.e. in-depth screenings of all at-risk business partners, rather than M&A due diligence, although some of the same tools can be used in that context, too.
Key takeaways from the course:
- How to manage and plan a third party due diligence process
- Getting an overview of your third party universe and assessing the risks associated with them
- Deciding whether to conduct due diligence screenings in-house or outsource the task
- Understanding the risks that different types of third parties may pose to your company or organisation
- Selecting and using basic tools for due diligence screenings, including open source intelligence and compliance databases
- How to interpret the results of your research to improve your decision-making
- How to put in place mitigating actions to lower your risk exposure
The course covers the following areas within third party due dilligence
- Legal requirements and international trends in third party due diligence
- Establishing an overview of your third parties
- Assessing the risks associated with third parties, e.g. corruption, sanctions, financial problems, reputational issues, key individuals etc.
- Conducting due diligence screenings
- Tools, sources and methodologies for conducting your own due diligence screenings
- Software and online solutions for due diligence, including artificial intelligence solutions
- Putting in place mitigating actions
- Ongoing monitoring
The course is designed for compliance managers, legal counsels and lawyers with an interest in the compliance discipline.
Form of teaching
The course is interactive and includes many practical examples and cases. The course is conducted in English.
You will be asked to provide basic information about a test case for due diligence screening of a third party relevant to your own organisation.
The course is well linked with the other course "Compliance – internal investigations", and it makes sense to participate both days if you need a comprehensive compliance toolbox.
Kurset kan godkendes som obligatorisk efteruddannelse for advokater.