The Due Diligence Standards (DDS) contain the set of minimum requirements for effective due diligence, including system requirements suitable for evaluation by a third party (e.g., ISO 9000 Registrars). The DDS prescribe the necessary steps essential in performing and reporting the results of due diligence, including the following:
- The minimum criteria to be evaluated for effective due diligence
- Methods of rating the associated risks
- Content requirements for reporting the conclusions of due diligence with recommendations
Due Diligence Standards provide Due Diligence, Inc. with important industry recognition. The DDS are the first formal standards for due diligence. The primary benefits to a standardized approach to due diligence products and support include the following:
- Reduces risk
- Increases confidence
- Enhances the image of organizations that adopt due diligence standards
- Forms an integral part of a organization’s management and decision-making systems
- Provides regular independent assessment of due diligence processes and systems
- Can be recommended to suppliers as part of an organization’s due diligence support
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The Language of Due Diligence