The recent review of Australia’s Modern Slavery Act 2018 issued 30 recommendations to improve compliance, enforce obligations, and standardise reporting. These proposed changes align closely with SlaveCheck’s Due Diligence Platform, which helps businesses meet compliance obligations and go beyond reporting to actively address modern slavery risks. This post explores the recommendations and how they align with international best practices, such as the EU Corporate Sustainability Due Diligence Directive.
1. The Push for Stronger Modern Slavery Reporting Standards
The review highlighted inconsistencies in reporting quality. Key recommendations include lowering the reporting threshold from AU$100 million to AU$50 million, introducing penalties for non-compliance, and requiring mandatory due diligence. These changes mean that companies will need to demonstrate clear, measurable efforts in preventing modern slavery, beyond merely submitting a statement.
How SlaveCheck Helps: SlaveCheck’s Due Diligence Platform is designed for all reporting entities, making it simple for businesses to meet high standards of compliance. Automated supplier engagement across all tiers of the supply chain streamlines reporting, helping companies compile accurate, comprehensive data efficiently.
2. Enforcing Reporting Obligations
The review calls for stronger accountability by making non-compliance an offence in cases where companies fail to submit reports or submit false information. Additionally, entities will need a due diligence system, signalling a move from transparency-based reporting to an action-oriented compliance model.
SlaveCheck’s Role: Unlike traditional compliance tools, SlaveCheck’s Due Diligence Platform goes further by providing actionable tools to monitor, identify, and mitigate risks. This proactive approach aligns with the shift towards robust due diligence, supporting companies in actively managing compliance.
3. Enhancing Compatibility and Clarity in Reporting
Due to a lack of guidance, many reports are vague and inconsistent, making it difficult to assess compliance. Recommendations include more detailed guidelines and a standardised coversheet for reports, simplifying reporting requirements and clarifying obligations for businesses.
How SlaveCheck Assists: SlaveCheck’s platform includes clear templates and guided steps for both suppliers and reporting entities. This simplifies compliance, helping businesses produce consistent, compliant reports that are easy to update and review annually.
Parallels with the EU Corporate Sustainability Due Diligence Directive
Much like the EU’s Corporate Sustainability Due Diligence Directive, these recommendations suggest a shift from high-level statements to actionable, due diligence-driven obligations. SlaveCheck’s design supports entities in adopting these best practices, providing the tools to streamline, document, and demonstrate proactive compliance.
Conclusion
These recommendations, if implemented, will strengthen Australia’s modern slavery legislation, increasing responsibilities for businesses. With its due diligence capabilities, SlaveCheck is ready to support these evolving requirements, helping businesses enhance their modern slavery responses, fulfil due diligence, and stay ahead of compliance mandates.
