IIA Risk Management Tool: Third-Party Assessment

October 15, 2026

This tool offers a customizable structure for risk management professionals and internal auditors who take on responsibilities beyond internal auditing within organizations using third-party models, data, or parameters: at selection, before first use, at revalidation, and at contract renewal.

It accompanies “Assessing Model Risk Management: A Risk Management Professional’s Guide.”

Additional resources to use with this tool

Guide
Example of MRM Asessment
RACI Chart

• Tools
• Audit Practice
• Assurance
• Governance
• Compliance
• Three Lines
• Risk
• Internal Control
• Third Party
• Stakeholder, Board, C-suite, and Audit Committee
• Executive
• Mid-Level
• Global Regions
• English