Australia Modern Slavery Act Preparation: The Key To Effective Reporting

FTI Consulting

Australia’s Modern Slavery Act came into effect on 1 January 2019. While the first reporting period is not until 2020, there are several actions companies should begin now to help effectively meet reporting requirements.

Australia now has Modern Slavery Reporting requirements at the Commonwealth level and in New South Wales via state legislation. Reporting guidelines were released for public comment closing on 19 May and gives further detail on the expectations for compliant reporting. Understanding and documenting key risks within companies and their supply chains and conducting a thorough risk assessment now will help assess the complexity of the task ahead. It will also set a road map for protecting and enhancing business reputation among diverse stakeholders.

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FTI Consulting

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