The Commonwealth Modern Slavery Act 2018 commenced on 1 January 2019, and requires organisations with annual consolidated revenue of more than AU$100 million to report annually on the risks of modern slavery in their operations and supply chains.
These changes complement wide ranging reforms in a number of areas combatting corporate misconduct and white collar crime, in particular, reforms to Australia's anti-bribery legislation, whistleblowing processes and increased corporate penalties.
In the third of our series on these reforms of corporate misconduct legislation, Ben Allen, Partner, Disputes and Risk Advisory, looks at the complexities involved in reporting on modern slavery risks and the steps that organisations need to take now to ensure they are ready to meet their reporting requirements.
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