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Checklist

Compliance Audit Checklist

Conduct third-party compliance audits without dragging in expensive consultants

  • Pre-Audit Planning and vendor communication
  • Compliance Domain Testing Procedures
  • Evidence Collection and documentation
  • Finding Classification and severity levels
  • Remediation Request and tracking
  • Follow-Up Audit Scheduling
  • Audit Report and executive summary template
Compliance Audit Checklist
 

You don't need an external auditor to assess vendor compliance. This checklist provides structured audit approach: what to verify, how to document findings, how to track remediation. Your team can own third-party audits in-house. Pre-built for major frameworks. Fully documented so auditors see you're taking vendor compliance seriously.

You don't need an external auditor to assess vendor compliance. This checklist provides structured audit approach: what to verify, how to document findings, how to track remediation. Your team can own third-party audits in-house. Pre-built for major frameworks. Fully documented so auditors see you're taking vendor compliance seriously.

Why consistency matters

Vendor risk assessment is foundational to everything downstream: tiering decisions, monitoring priorities, remediation focus, board reporting. If your assessment is ad-hoc, everything else is unreliable.

A solid assessment framework gives you:

  • Comparable vendor scores - actually compare vendors against each other
  • Audit-ready documentation - show auditors exactly how you assessed and why
  • Faster cycles - standardized questions mean less customization
  • Clear escalation triggers - when a score drops, you know what to do

How to use this:

You have two paths forward. You can build this yourself using the template. Start by customizing it for your specific industry and risk profile, then send it to vendors to complete. As responses come in, you'll track them in a spreadsheet and score them manually. It takes time and effort to coordinate, but you own the entire process and can adjust it whenever you need.

Alternatively you can use ComplyScore®.
Instead of vendors filling out spreadsheets and you doing manual scoring, vendors answer once in the platform and scoring happens automatically. Risk trends appear in real-time, so you're not waiting weeks for data. Every vendor gets assessed using the exact same framework without shifting criteria or inconsistencies.
And here's the key difference: monitoring continues automatically without you having to rebuild the framework every quarter.