Auditing suppliers—modern slavery and human trafficking
Published by a LexisNexis Practice Compliance expert
Practice notesAuditing suppliers—modern slavery and human trafficking
Published by a LexisNexis Practice Compliance expert
Practice notes
Auditing suppliers can be a useful tool in identifying modern slavery and human trafficking abuses in your supply chain. This Practice Note describes what a good modern slavery and human trafficking supplier audit process looks like and provides guidance on who should conduct audits, how to prepare for and carry out an audit, and how audits should be followed up.
Who should conduct the audit?
Whether you use internal auditors, an external firm, a local NGO or a combination of the three, the auditor or team of auditors must be trained professionals who have in-depth knowledge of the Risk factors.
They must have the ability to identify and investigate labour abuses and recognise indicators of forced labour, sometimes in challenging environments.
Key things to think about if you are looking at external auditors include:
- •
the tools and approaches they use, eg they don’t just look at current labour conditions, they also focus on recruitment
- •
ensuring the auditors speak the same language as the supplier’s workforce and understand
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Jurisdiction(s):
United Kingdom
Key definition:
Risk factors definition
What does Risk factors mean?
In the context of the UK prospectus regime, risks which are specific to an issuer and/or its securities and which are material for taking investment decisions. The UK Prospectus Regulation prescribes the risk factors which must be disclosed in a prospectus and how they should be presented.
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