Tier

Assurance Requirements

Frequency

Coverage of Suppliers

Failure to meet Assurance Requirements

1

Demonstration of current certification to the agreed industry recognised standard

AND

Completion of compliance questionnaire (where required onsite due diligence)

Annually

100%

Terminate contract or escalate to PKB senior leaders for formal risk acceptance

2

Demonstration of current certification to the agreed industry recognised standard

OR

Completion of compliance questionnaire (where required onsite due diligence)

Annually

30%

Formally give the supplier opportunity (based on risk appetite of PKB) to remediate the failings. If they cannot commit or cannot meet the requirements to remediate look for alternative supplier

3

Demonstration of current certification to the agreed industry recognised standard

OR

Completion of compliance questionnaire

Annually

Where time permits

Formally give the supplier opportunity (based on risk appetite of PKB) to remediate the failings. If they cannot commit or cannot meet the requirements to remediate look for alternative supplier