Why due diligence is a priority for organisations in 2024

Recap

Businesses are prioritising due diligence today for three key reasons.  

First, there’s a rise in conscientious consumers and investors who are being selective about the businesses they buy from or invest in. Instead of just looking at financial returns, they’re considering a company’s ethics, social impact, and supply chain transparency. 

Second, the surge in online publicly available data means that anyone can uncover revealing or damaging information about a company or an individual. Conscientious consumers have the power and the motivation to challenge businesses on the information they find. 

Third, the regulatory risk space is rapidly evolving. The war in Ukraine triggered a regulatory overhaul, with sanctions impacting different parts of a company’s supply chain. Globalisation has created interconnected suppliers, manufacturers, distributors, and retailers, which adds another layer of complexity to managing these risks. Regulatory pressure is expected to continue and conflicts with new risks will emerge.