Failing to appropriately identify and manage third parties could cost shareholders up to £650m, claims Deloitte.
Regulatory action and reputational damage arising from third-party actions could cost shareholders an average of ten times the size of any fine faced by companies as their market value is impacted, according to Deloitte.
Deloitte’s research, Third party governance & risk management: Turning risk into opportunity, highlights the average combined direct fine and remedial costs of failing to appropriately identify and manage third parties.
This has ranged from £1.3m to £35m before the cost of indirect losses, such as reduced sales and repu
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