Organizations are not adequately addressing IT and security risks that emerge from outsourcing and partnering with third-party vendors, according to a new survey by consulting firm Protiviti and Shared Assessments Program, a community of risk management professionals.
Despite the many standards and regulations in the business environment today and the need for increased vigilance due to highly publicized data breaches and cyber threats, the study found that companies lack mature vendor risk-management practices and don’t have the necessary resources and staff to meet best practice standards.
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