Frequently Asked Questions

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There are several factors to consider in determining the length of time for the initial TPRM program assessment.  These factors include the number of third parties you currently use and the formalization of the existing process.  We estimate 1-2 weeks to get our arms around your current process and peruse through any existing policy and / or procedural documentation.  Once our preliminary review is completed, we often require an additional 1-2 weeks to complete our gap assessment and provide recommendations.  

For a 1-2 week initial assessment, we estimate a cost of between $7,000 - $12,000.  At the end of this assessment, we will provide you a roadmap of our suggested course of action, as well as an estimate of the time and expense involved for our team to perform the additional steps.  The cost spectrum is dependent upon your existing program's maturity and size of your organization.  We communicate regularly to provide status updates regarding the project and timelines.

Similar to the initial assessment, the cost of the ongoing monitoring and managed services will depend on the existing number of contracted third parties, as well as the anticipated monthly projection of third parties onboarded each month.  With the additional services provided in the ongoing monitoring and management, this fee ranges between $10,000 - $18,000 each month.  

Most CPA firms use a leveraged cost-structure model where the least experienced people perform the majority of the work in order to meet their budgets and project realization targets.  Their costs and billing rate structure are pre-determined and unrelated to your organization's structure and needs. This approach often results in 1st and 2nd year associates conducting the bulk of the work while your organization subsidizes their learning curve.  

At TPRM-Texas,  our budget and approach will be custom-tailored based on the maturity and scale of your organization's activities.  In addition, Scot and Steve are actively involved in each step of the process, “rolling up their sleeves” to do the work.  We do not delegate our responsibilities to entry-level, inexperienced consultants or offshored resources.  

Quite the contrary, you’re actually in an advantaged position!  As someone involved in every step of the process, we are in a position to fully communicate the management and controls of your TPRM program to regulators and external auditors.  As an extension of your organization's TPRM program, we will represent you in these situations on your behalf.