5 keys to vendor management

04/3/2014 | AICPA Insights

Susan Pierce, CPA, CITP, CGMA, senior technical manager for the AICPA Information Management and Technology Assurance Division, outlines five steps to help CPAs with vendor management. CPAs should obtain Service Organization Control reports from vendors; assess vendor and provider risk; establish service-level agreements; negotiate flexible contract terms to validate the sufficiency and completeness of such agreements; and designate project managers to oversee vendors.

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