Auditing and Governance Risk and Compliance

Auditing Third-Party and Outsourcing Arrangements

Organisations rely on suppliers, agents and outsourcers for critical services, creating operational, compliance and reputational risks. This course covers auditing third-party risk management: inventories, risk tiering, due diligence, contracts, ongoing monitoring, fourth parties, concentration risk and offboarding.

5 days Classroom or live online English

Smart Horizon Certified - Global Leadership Consultants

Take the course details with you.

Download the full standard outline: why attend, methodology, objectives, audience, competencies, the daily outline and current plans.

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Why attend

From knowledge to real-world impact.

Many incidents start with a third party. You will learn to audit whether third-party risks are properly managed.

Workplace challenges

Professional Problems This Course Is Designed to Solve

The programme explores practical approaches to the following challenges. Results depend on how the learning is applied in your organisation.

Difficulty translating subject knowledge into practical workplace decisions.
Inconsistent approaches to the activities covered in the course outline.
Lack of a structured plan for applying and reviewing new skills.

Course methodology

How you will learn.

Framework reviews, sample testing of due diligence files, case studies and audit programme design.

Course objectives

What you'll take away.

By the end of this course, participants will be able to:

Understand third-party risk management frameworks
Audit third-party inventories and risk tiering
Test due diligence and onboarding
Review contracts and oversight
Assess monitoring and concentration risk
Audit offboarding and exit

Target audience

Who should attend.

This course is suitable for:

Internal auditors
Third-party risk managers
Procurement and compliance staff
Risk managers
Audit managers

Target competencies

Capabilities you will build.

Participants will develop competencies in:

Framework review
Due diligence testing
Contract review
Monitoring assessment
Reporting

Course outline

Your learning journey.

A focused, practical outline with time to explore, apply and reflect.

Day 1Third-Party Risk

09:00–10:08Types of third parties
10:08–11:00Risks
11:00–11:30Coffee break
11:30–11:45Risks (continued)
11:45–12:53Regulation
12:53–14:00Exercise

Day 2Inventory and Tiering

09:00–10:08Completeness
10:08–11:00Risk tiers
11:00–11:30Coffee break
11:30–11:45Risk tiers (continued)
11:45–12:53Ownership
12:53–14:00Workshop

Day 3Due Diligence

09:00–10:08Onboarding checks
10:08–11:00File testing
11:00–11:30Coffee break
11:30–11:45File testing (continued)
11:45–12:53Exceptions
12:53–14:00Exercise

Day 4Oversight

09:00–10:08Contracts
10:08–11:00Performance monitoring
11:00–11:30Coffee break
11:30–11:45Performance monitoring (continued)
11:45–12:53Fourth parties
12:53–14:00Case study

Day 5Concentration and Exit

09:00–10:08Concentration risk
10:08–11:00Exit plans
11:00–11:30Coffee break
11:30–11:45Exit plans (continued)
11:45–12:53Reporting
12:53–14:00Action plan

The timings provided are estimates and may vary depending on the number of participants and the discussions taking place during the sessions. They are indicative only and do not constitute a binding commitment.

Dates & venues

Find a session that works for you.

Confirmed dates accept registration requests. Tentative dates are enquiry only.

Good to know

A few things to know.

How is the course delivered?

Our classroom programmes combine facilitated discussion, case studies, exercises and reflection. The precise format will be confirmed before enrolment.

Can you deliver this programme for our team?

Yes, you can enquire about a tailored programme. Share your goals, group size and preferred dates with our learning team.

Will I receive a certificate?

Participants who complete the programme receive a Smart Horizon certificate of attendance. Smart Horizon programmes are not externally accredited and do not award a professional qualification, licence or designation. Where a course title or outline refers to a professional certification (for example, AACE International's Certified Cost Professional), the programme supports learning and preparation only; the credential itself is awarded solely by the relevant professional body under its own application and examination requirements.

What should I confirm before booking travel?

Please confirm the session, exact venue, accessibility arrangements, fees and any visa requirements with the team before arranging travel. Tentative dates are not confirmed sessions.

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