A successful third-party risk-management program requires regularly conducting third-party audits. While some companies have active third-party audit programs, others are still developing this component of their compliance program. This checklist guides a party through the audit process, from drafting policies and procedures to documenting and remediating after an audit is completed. For a more in-depth look at enforcing audit rights, the next third-party management frontier, see our three-party series: “What to Do Before an Audit” (Nov. 9, 2016); “Conducting an Onsite Audit” (Dec. 7, 2016); “Forestalling Problems, Documenting the Audit and Responding Appropriately” (Mar. 1, 2017).