On 1 January 2019, the Modern Slavery Act came into force. Under the reporting requirement, certain large entities must publish annual Modern Slavery Statements describing their actions to assess and address modern slavery risks. As a result, Directors of about 3000 companies operating in Australia will be required to sign off on statements to confirm they are abiding by new laws to stop slave labour being exploited in their global supply chains.
An extract from the Department of Home Affairs outlines the below:
The Statement must include information about the Company’s:
- Structure, operations and supply chains;
- Risks of modern slavery practices in the operations and supply chains of the Company (and the entities it owns/controls);
- Actions taken to assess and address those risks, including due diligence and remediation processes; and
- How the Company assesses the effectiveness of such actions
Valenta BPO can assist with the following services:
- How to comply with the Modern Day Slavery requirements
- How to approve and publish the Statement
- Assist with the review of your processes and controls
- Perform risk assessment of your operations and supply chains
- Deliver face-to-face training
- Assess your supply chain’s compliance with the legislation
- Draft policies and procedures
