Establishing a Third Party Risk Management Program

Field: Auditing | Delivery Method: Self Study | CPE Hours: 2.0

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Third-party risk management (TPRM) is the process of analyzing and controlling risks associated with outsourcing to TP or service providers. This includes access to your organization's intellectual property, data, operations, finances, customer information or other sensitive information.

In today’s complex economy, utilization of TP providers is a norm rather than an exception. The engagement of TP providers, as well as subservice or “fourth-party” providers, presents risks that organizations should take action to manage. Risks posed by an organization’s TP providers should be considered by the organization when establishing their TPRM program. Inability to establish a solid TPRM program could leave your organization at undue risk.

Organizations are now facing risks such as the threat of high-profile business failure, illegal third-party actions being attributed to the organization, or regulatory enforcement for actions taken by third-parties. It is critical organizations have a robust, mature TPRM program that encompasses all aspects of risk and all stages of the lifecycle that a TP can transition through from initial due diligence to business continuity.

Within this course, we will discuss the concepts around establishing a sold TPRM process for any organization. Future courses will then examine the process of auditing your TP relationships.

Lesson Objectives
  • Examine risks of a TPRM program
  • Define a TPRM Program
  • Identify elements of a TPRM program
  • Steps to build a TPRM program
  • Steps to execute a TPRA
  • Managing Third-Party Risk Program
  • Best practices for TPRM

Field: Auditing
CPE: 2.0
Delivery Method: Self-Study
Format: Video


Your Instructor


Lynn Fountain
Lynn Fountain

Consultant, CPA, CGMA, CRMA, MBA, Past Chief Audit Executive

Business Consultant, Trainer, Author


Ms. Fountain has over 40 years of experience spanning public accounting, industry accounting and consulting. Sixteen years of that experience has been in the field of internal audit, risk managment and process improvement. She is well adept to assist your organization evaluate business strategy, perform risk assessments, establish a Sarbanes-Oxley process, synergizing internal audit processes or perform process improvement projects.


As a past corporate executive Lynn has a passion for working with professionals to enhance their processes and provide leading edge education. She has authored and delivered hundreds of training courses for accounting, finance and audit professionals. Her training is filled with not just theory but real world application.


Ms. Fountain has authored three technical publications:

-Leading the Internal Audit Function 

-Raise the Red Flag

-Ethics and the Internal Auditor's political dilemma


Lynn is a recognized leader in the internal audit profession as well as a recognized business professional.  


Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has active, current CPA, CGMA, and CRMA credentials.


https://www.lynnfountain.net/


Course Curriculum


  Establishing a Third Party Risk Management Program
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Frequently Asked Questions


When does the course start and finish?
The course starts now and never ends! It is a completely self-paced online course - you decide when you start and when you finish.
How long do I have access to the course?
How does lifetime access sound? After enrolling, you have unlimited access to this course for as long as you like - across any and all devices you own.
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