This IAB and SafeGuard Privacy partnership is good news for all sides, offering a path to streamline baseline privacy due diligence - particularly important (and well-timed) ahead of the March enforcement date for CCPA regulations which state that "whether a business conducts due diligence of the third party/service provider factors into whether the business has reason to believe that the third party is using personal information in violation of the CCPA and these regulations."
Nevertheless, as I stated to Digiday, “prudent advertisers and agencies should recognize that it is easy to tick a box ...without providing real insight into one’s data practices, and perform supplemental due diligence as required.” And transparency will be key - e.g. into the questions issued to each category of partner.
There's no substitute for understanding your own needs, standards, and positions, and how they line up with the practices of your partners.