
Risk Assessment Matrix for Vendor Audits
N.B. If localization affects funnel drop-off, include an “adjusted funnel” scenario with local benchmarks.
📄 Prompt Template
Develop a risk assessment matrix to assess the potential risks associated with vendors such as [Vendor] during audit preparation. The matrix should categorize risks by severity (low, medium, high) and probability (rare, likely, almost certain), and suggest mitigation strategies for each identified risk. Include factors like data breach risks, non-compliance with regulations, and potential financial misreporting. For each vendor, assign a risk score and include recommendations for monitoring and compliance enforcement.