Original content provided by BDO Global.
Third party attestation (TPA) involves certifying the processes of outsourced service providers to ensure the proper procedures are being followed. As organizations deal with a rapidly evolving set of risks and challenges—and increasingly outsource non-core activities—TPA has become an increasingly important tool for creating trust within organizations and across external vendor and client relationships.
For example, many organizations outsource cybersecurity efforts to a dedicated provider with cybersecurity expertise. This is understandable—for many companies, cybersecurity is not a core competency. But outsourcing these procedures brings along its own risks, including potential reputational, compliance, privacy, financial, and operational risks if an attack were to take place.
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