The correct answer is True. Regular assessment of a vendor's compliance with security policies and procedures is crucial for ensuring that the vendor's security controls are effectively safeguarding your organization's data. This includes reviewing their practices around data protection, access controls, incident response, and more. Failure to adequately assess vendors can lead to security breaches that stem from third-party weaknesses. Hence, organizations should perform thorough vendor risk assessments to minimize potential risks to their own network security.