Hidden in plain sight: What Modern Slavery Reporting Requirements will mean for your business: Part 2

Part 2 – Implications for businesses in the supply chain

In Part 1 of this article, we looked at the content of the Australian Modern Slavery in Supply Chain Reporting Requirements (Reporting Requirements) proposed by the Commonwealth Government in the near future. In Part 2, we look at some practical and commercial implications likely to arise from the introduction of the Reporting Requirements.

Being aware and considering the implications of the new Reporting Requirements is incredibly important, given the outcomes of the 'Australian Modern Slavery Survey' recently conducted by The Chartered Institute of Procurement and Supply, which showed that:

• one per cent of respondents did not think they will be able to comply with the Reporting Requirements based on current management practices