Cybersecurity and why Third-Party Attestation is Critical Today
14 June 2022
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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