Modern slavery is a significant issue worldwide and is pervasive in supply chains. In a time of pressure resulting from rising inflation, supply chain issues, and other spiraling costs, businesses are struggling to keep costs low and find the workers they need. In some cases, this means greater bargaining power for workers; in others, it means greater numbers of people being coerced, heightening the risk of modern slavery. Chartered Accountants need to be aware of this risk and know what to look out for. They also need guidance on how to act.
This talk will address the role of Chartered Accountants in combatting this global problem. It will delve into how accounting, auditing and accountability can help business break this cycle. It will describe how gathering data and building internal awareness about the problem of modern slavery in supply chains allows financial professionals to reassess operational risk and invest in modern slavery reduction. It will also touch on stakeholder demand for action and transparency, and the opportunities for businesses to further align their business with the UN Sustainable Development Goals. Finally, it will discuss how Chartered Accountants and their clients or businesses can get ahead of compliance requirements and/or avoid fines, reputational damage and other consequences.
Showcasing the experience of large companies with complex supply chains which have implemented processes to address the problem, this talk will feature Adam Schafer, Director of Supply Chain Sustainability at Intel. It was also feature Caroline Haughey OBE QC, barrister, Furnival Chambers, who prosecuted the very first case brought under the Modern Slavery Act in the UK, and Professor Jan Bebbington, who holds the Rubin Chair in Sustainability in Business and is Director of the Pentland Centre for Sustainability in Business.
Purpose is to inform Finance professionals about ‘modern slavery’ that is pervasive in supply chains globally. What to consider and how to help address.
Finance leaders need to be aware of the existence of ‘modern slavery’ in global supply chains and what to consider when working with businesses that source goods and services globally. Today’s presenters will collectively share a cross section of insights.
By the end of today’s session, attendees will be able to answer the following questions:
- How pervasive is ‘modern slavery’ in global supply chains
- How Chartered Accountants can help combat this global problem
- How stakeholders are demanding greater transparency and accountability
- How to address compliance requirements