Due Diligence and Ongoing Monitoring

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How do folks check for conflicts of interest with vendors?

We have a question in our DDQ where we ask the vendor if they have a personal relationship with any of our employees. I'm curious what others do.

This message was posted by a user wishing to remain anonymous

We use a question in the questionnaire to address it from the supplier's perspective. In addition to this is background checking of the supplier's directors and controlling interests to see if they have connections to any companies already known to you or which may lead to any sort of reputational damage. However, it is just as important to ensure that nobody on your side who may be  involved in supplier discussions regarding selection or commercials is in a conflicted position.
Original Message:
Sent: 08-01-2022 07:48 AM
From: Anonymous Member
Subject: Conflicts of Interest

This message was posted by a user wishing to remain anonymous

How do folks check for conflicts of interest with vendors?

We have a question in our DDQ where we ask the vendor if they have a personal relationship with any of our employees. I'm curious what others do.