Third-parties integrity due diligence
Your problems
- Your entity is related to a high number of third parties and needs to establish criteria of assessment that allow to distinguish the ones that may represent higher risks and eventual conflicts of interests.
- In the context of a transaction, you are interested in acquiring an entity and you would like to obtain comfort about its reputation and integrity, as well as of their actual managers and ultimate beneficial owners, in order not to take the risk to inherit serious problems incurred by their predecessors.
- Your organization intend to comply with Decree-Law n.º 109-E/2021, from 9 December, in the component that obliges the covered entities to implement procedures of assessing in a timely manner the risk of third parties, but you do not know which procedures to adopt and/or do your organization not have the technical and human resources to make it.
How we can help
Our team has proved experience in designing procedures of assessment of third parties which allow our clients to adopt measures about the different entities they relate with, according to their level of risk.
Additionally, we have a team of specialized resources that, in a one-off or recurrent basis, perform procedures of verification of third parties.
- Third-party integrity verification procedures
- Ad-hoc third-parties verifications
- Outsourcing of third-parties verifications
Third-party integrity verification procedures
In this phase, our support is focused on the elaboration of procedures that allow our clients to understand the steps to take in the moments before establishing commercial relations with their clients, suppliers, partners among others, as well as the definition of the monitoring measures to adopt according to the level of risk associated to those entities.
Additionally, we support in the definition of criteria that will allow our clients to attribute different levels of risk to third parties they relate with, which may in some scenarios result in prohibitive situations for establishing the business relation.
Our support typically culminates with the delivery of the following materials:
- Manual of onboarding and due diligence of third-parties;
- Third-party risk scoring matrix.
Ad-hoc third-parties verifications
Whether in the context of a transaction or in one-off integrity third-parties verifications, we support our clients to understand the integrity and reputation of a certain entity they intend to relate with, as well as of its ultimate beneficial owners or its management.
Our work is made based on searches on public and private sources of information subscribed by our team, allowing to identify (i) sanctions, (ii) adverse media (iii) Politically Exposed Person (iv) ongoing disputes, (v) entities in which the beneficial owners or managers of the entity also have management functions or are shareholders, among other relevant situations.
The result of our research is reported in a factual way to our clients through reports prepared for that purpose.
Outsourcing of third-parties verifications
PwC counts with a team of specialists daily dedicated to performing third-parties verifications procedures for our clients that, due to having commercial relations with a wide number of entities, do not have the technical or human capacity to assure systematically this kind of verifications.
The verification procedures made are described in the tab “Ad-hoc third-parties verifications”, which may be adjusted to the specific needs of our clients.
It is important to refer that the systematic performance of these procedures to all third parties with whom our clients are related with, has as main goal to comply with the legal requirement described in article 18º from the General Regime for the Prevention of Corruption, in Decree-Law n.º 109-E/2021, from 9 December.
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