During an internal audit engagement, it was found that several vendors were on a government...

Agreements with sanctioned vendors discovered by internal audit will be placed on hold until further notice from the government

A new procedure of vendor onboarding will be implemented to ensure that all new vendors undergo screenings against the sanctions list

Controls will be embedded in the vendor management processes to ensure that new and existing vendors are compliant with changes to the sanctions list

The legal team will be asked to prepare counter arguments to dispute audit findings and potential inquiries from the governmental authority