The UK Government has published its response to the transparency in supply chains consultation on proposed changes to supply chains reporting under the Modern Slavery Act. It has committed to strengthening the transparency in supply chains provisions by amending section 54.
The new legislation will:
The new requirements represent a more detailed and rigorous reporting process – with a greater likelihood of sanctions for non compliant statements and non-reporting. Now is the time to prepare for the changes you will need to undertake in your next statement.