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Due Care and Due Diligence
ОглавлениеTwo of the concepts discussed often in this book, as well as in cybersecurity and third‐party risk, is due care and due diligence. Due care is using a reasonable effort to protect the interests of a company. For due care with vendors, it is ensuring they develop and formalize security policies, standards, baselines, and procedures to ensure the security of their environment. Due diligence is performing a reasonable exam and investigation before taking action. The opposite of due diligence is the ad‐hoc process. An ad‐hoc process is one that is not predefined but is essentially done without guidance. In this book, performing due diligence refers to the efforts of researching the risks of third parties. Due diligence is performing the necessary research to understand risk, while due care is performing the actions identified as needed from due diligence.