Date posted: 17/12/2020

What directors need to know about modern slavery statements

Modern slavery statements have been published on the Australian Government’s register

In brief

  • The Australian Government has released its modern slavery statement for 2019-20
  • Chartered Accountants ANZ released its first modern slavery statement in October 2020
  • What directors need to know about signing off modern slavery statements

The Australian Government announced in its Modern Slavery Statement for 2019-20 that it had developed a suite of modern slavery contract clauses to manage modern slavery risks in government contracts.

The statement, released in December, also said that among other things, the Government had established a whole-of-government committee to develop and oversee its response to modern slavery. 

It has set up an online register for modern slavery statements, which had received 103 mandatory and 19 voluntary modern slavery statements (at the time of publication of this article) in its first year. 

Chartered Accountants ANZ’s Modern Slavery and Human Trafficking Statement 2020, which outlines our intent, approach and next steps for FY20-21, is on the register.

What directors need to know 

The Australian Institute of Company Directors has worked with law firm Herbert Smith Freehills to produce a guide to modern slavery reporting. The guide is intended to provide directors with some clear guidance on what they need to know to sign off their modern slavery statements.

The guide includes reporting requirements for corporate groups, how to minimise potential areas of risk, and suggestions for better practice. 

What directors need to know about signing off on modern slavery statements 

Many directors are for the first time faced with the unfamiliar task of reviewing and approving their organisation’s modern slavery statement ...

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Read the Commonwealth Government’s Modern Slavery Statement for 2019-20

Online Register for Modern Slavery Statements.

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Chartered Accountants ANZ modern slavery statement

Chartered Accountants Australia and New Zealand is proud to publish its Modern Slavery and Human Trafficking Statement for FY20.

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