Companies are under pressure to meet the requirements of the Modern Slavery Acts in Australia and the United Kingdom. Momentum is also growing for other G20 countries to adopt similar laws.

Australia's Modern Slavery Act is unique in many ways:

  • It requires covered companies to submit an annual report through an online, and publicly accessible, central government registry.
  • The report must explain what the company is doing to assess and address the risks of modern slavery practices in its operations and supply chains.
  • This report must be approved by the Board of Directors and signed by a director of the company.
  • The report is an annual exercise and expects "continuous improvements."
  • The first reporting deadline is only months away.

The compliance challenges presented by these modern slavery laws are substantial. It requires setting up an agile, scalable process for surveying hundreds of suppliers, assessing risks and managing remediation of issues.

CENTRL's Modern Slavery Compliance Platform is a purpose-built fully automated tool for companies to efficiently assess the risks presented by their suppliers on a recurring basis. It comes out-of-the-box with pre-built assessment templates, scoring frameworks, regulatory reports, and management dashboards. It requires little set-up and can be implemented quickly.

How CENTRL Helps Comply with the Modern Slavery Act

Modern Slavery Act Requirements

  • Risk Identification: risks of modern slavery practices in operations and supply chains.
  • Risk Assessments and Remediations: actions taken to assess and address modern slavery risks, including due diligence and remediation processes.
  • Key Performance Indicators: Explain process for assessment of effectiveness of actions taken to assess and address modern slavery risks.

How CENTRL Helps Comply With MSA

  • Automated workflow for assessing risk in operations and suppliers
  • Pre-built templates designed for modern slavery risk
  • Automated scoring to generate risk KPIs
  • Automated identification of issues
  • Full workflow to track issue status and remediation
  • Automate year-over-year assessments
  • Implement system in days with no IT investment
  • Solution can be deployed in as little as 2-3 days
  • Can be used stand-alone or integrated with internal systems
  • Highly secure with world class infrastructure

Key Product Features

Use Pre-built Modern Slavery Act Templates & Workflows

  • Start with pre-built Assessment templates for Modern Slavery Compliance
  • Modify as needed in easy-to-use questionnaire editor
  • Bulk publish Assessments to hundreds of suppliers at once or schedule for future dates
  • Automate year-over-year changes with pre-populated prior year responses
  • Track completion status in dynamic dashboards
  • Automated reminders to suppliers
Digitize your own DDQs and Automate Scoring
Reporting & Analysis

Auto-score Supplier Responses & Build Risk Map

  • Pre-built grading scale designed for Modern Slavery risk assessment
  • All multiple choice and Y/N answers automatically graded
  • Centralized repository of all evidence documents
  • Full audit trail of all actions

Identify Key Gaps & Manage Remediation

  • Identify issues based on supplier responses
  • Rate issue severity and suggest remediation plan
  • Publish issues back to supplier
  • Track issue progress and remediation
Issues & Findings Tracking and Remediation
Manage all your Funds

Auto-Generate Compliance Reports & Dashboards

  • Pre-built dashboards for modern slavery KPIs
  • See supplier risk scores by criticality and other dimensions
  • View cross-supplier scores and over time
  • Drill down capability to see details
  • Auto-generate formatted reports for internal and external audience

Provide Suppliers With Easy-To-Use portal To Respond

  • Suppliers invited to respond to questionnaire in easy-to-use portal
  • Suppliers can upload documents, review answers, and submit
  • Suppliers only respond to changes from year-to-year
  • Suppliers can Internally delegate questions as needed
Dynamic Dashboards & Detailed Analytics
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Annual Reporting Requirements

Australia's Modern Slavery Act - Key Obligation and Important Dates

Reporting period Original deadline for submission of modern slavery statement New extended deadline for submission of modern slavery statement
January 1, 2019 - December 31, 2019 (Calendar Year) June 30, 2020 September 30, 2020
April 1, 2019 - March 31, 2020 (Foreign Financial Year) September 30, 2020 December 31, 2020
July 1, 2019 - June 30, 2020
(Australian Financial Year)
December 31, 2020 March 31, 2021
Reporting periods ending after June 30, 2020. The six-month deadline for reporting periods ending after June 30, 2020 remains unchanged.

Consequences of Non-compliance

Although there are no financial penalties for noncompliance, the Australian government has the power to publicly name entities that fail to comply and can require noncompliant entities to take remedial action to ensure compliance, including requiring an entity to provide or revise a statement.

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