Conducting a risk assessment of all candidate vendors is the best way to provide assurance that a potential vendor is able to comply with privacy regulations and the organization’s data privacy policy, because it allows the organization to evaluate the vendor’s privacy practices, controls, and performance against a set of criteria and standards. A risk assessment can also help to identify any gaps, weaknesses, or threats that may pose a risk to the organization’s data privacy objectives and obligations. A risk assessment can be based on various sources of information, such as self-attestations, documentation, audits, or independent verification. A risk assessment can also help to prioritize the vendors based on their level of risk and impact, and to determine the appropriate mitigation or monitoring actions.