Australia will soon have Commonwealth legislation which requires entities with an annual revenue of $100m to publicly report on how they are managing the risk of modern slavery in their operations and supply chains. New South Wales has already introduced legislation for companies with annual turnover above $50m.
Each entity is unique. Modern slavery related risks will depend on the sector, geographical reach and the work already done to assess and address human rights impacts.
The more complex your business operations, the more important it is to get ready now.
KPMG's Human Rights & Social Impact team has put together guidance to help you understand the requirements of the impending mandatory modern slavery reporting requirements and the risks it may expose for your organisation.
Contact our specialist business and human rights team to discuss your organisation's modern slavery reporting readiness.