Documenting a Risk-Based Approach

By Adam Turteltaub Why? Why are you asking that? Do you really need to know it? Is it going to tell you something you need to know? Is it a question that anyone could even answer? All of these are questions to ask yourselves and colleagues when they propose adding an item to your due diligence questionnaire. As Kristy Grant-Hart (LinkedIn), author, speaker and Head of Advisory at Spark Compliance, which is now owned by Diligent, explains, too often due diligence questionnaires are filled with questions that are unnecessary at best and counterproductive at worst.  They are born out a desire to cover all the bases not necessarily get you just the information you need. Instead of throwing in everything including the kitchen sink, it’s far better to take, as elsewhere, a risk-based approach.  Work directly with those who own the risk review.  And, if the response doesn’t matter, don’t ask the question. Listen in to learn more about how to create a due diligence questionnaire that gets the answers you need, and not the ones you don’t.