The Ultimate TPRM & Cyber Risk Glossary
When in doubt, use an acronym.
Whether you’re a seasoned healthcare CISO or you’re new to the industry and convinced people are just making up acronyms—this glossary has you covered. From standard industry frameworks to CORL-specific terms, it’s your Rosetta Stone for healthcare TPRM, cyber risk, and compliance.
Understanding Third-Party Audit
A third-party audit is an independent assessment conducted by an external organization to evaluate a vendor’s compliance with specific regulatory, security, or operational standards. This type of audit is critical, as it provides an objective view of a third-party vendor’s risk management practices, cybersecurity measures, and adherence to contractual obligations. By conducting third-party audits, organizations can verify that their vendors meet the required standards and ensure that these external partners do not introduce unnecessary risks into the organization’s ecosystem.
Third-party audits often cover areas such as data protection, access controls, operational resilience, and regulatory compliance, and may result in formal certifications like SOC 2 or ISO 27001. Regular third-party audits help organizations build trust in their vendor relationships by confirming that vendors maintain high standards of security and compliance.