Australia’s Modern Slavery Bill 2018 requires large businesses and other entities to address modern slavery by producing annual public reports on the actions they have undertaken to address slavery in their operations and supply chains. The Bill was introduced in the House of Representatives in June 2018 and is currently before the Senate.
Once passed, the Bill will affect approximately 3,000 companies, with annual Modern Slavery Statements needing to be signed off at Board level and published within six months of publication of annual reports. Australia’s biggest companies may be unknowingly involved in using forced labour in their supply chains through sourcing goods and services domestically and internationally. Companies will need to develop or revise existing corporate policies and ensure due diligence processes are in place to address modern slavery risks. These processes will include risk assessments, staff training and reviewing supplier contracts. Rowe Advisory’s consultants can provide assistance with compliance and reporting; developing, revising and implementing policies and ensuring due diligence is carried out on contractors and suppliers.
For further information please contact Jody Rowe