Government proposes changes to S54 Transparency in Supply Chains Statements
25 September: Significant changes have been proposed in response to the transparency in supply chains consultation
Modern slavery
It is estimated there are more than 40 million people in the world living in conditions of slavery or working under forced or compulsory conditions. In the UK, thousands of cases are reported each year, and authorities estimate there are well over 100,000 victims living in the country.
Listen to our podcast on domestic modern slaveryHow chartered accountants can counter modern slavery
Thousands of people are forced into some form of slavery each year in the UK. Chartered accountants have a powerful role to play in stopping this.
Key updates
Government delays modern slavery statement publication
28 May 2020: the Home Office has confirmed that organisations can delay publication of their modern slavery statements by up to six months, but they will need to explain why.
Independent Review of the Modern Slavery Act 2015
Reporting in May 2019, the Independent Review of the Modern Slavery Act looked into the operations and effectiveness of the Act and suggested potential improvements.
Articles on modern slavery
Is trust enough? AML and professional scepticism
ICAEW’s latest educational drama film, All Too Familiar, examines the role of professional scepticism in the fight against economic crime. Produced in collaboration with HMRC, the film looks at a real life scenario of how firms and individuals may inadvertently become ‘professional enablers’ for criminals involved in everything from financial fraud to modern slavery and terrorism.
ICAEW urges members to be aware of mini-umbrella companies
HMRC has issued new guidance on the fraudulent activities of so-called ‘mini-umbrella companies’ sometimes created to avoid paying tax and national insurance. ICAEW’s Tax Faculty calls on members to ensure they are informed.
Modern Slavery in the Manufacturing Sector – do accountants have a role to play?
A number of news stories over the last year have made the general public increasingly aware that modern slavery and human trafficking still blights the 21st century.
Retail
Stay up to date with the latest developments in the retail industry. This community is for finance professionals working in, or advising clients in, either the physical or online retail sector.
Ending Modern Slavery: why accountants have a role to play
The scourge of modern slavery has risen steadily up the public agenda in recent years and it is incumbent on ICAEW members to be vigilant about it, writes ICAEW CEO Michael Izza.
Modern slavery
It is estimated there are more than 40 million people in the world living in conditions of slavery or working under forced or compulsory conditions. In the UK, thousands of cases are reported each year, and authorities estimate there are well over 100,000 victims living in the country.
Modern slavery
It is estimated there are more than 40 million people in the world living in conditions of slavery or working under forced or compulsory conditions. In the UK, thousands of cases are reported each year, and authorities estimate there are well over 100,000 victims living in the country.
Why we can no longer ignore modern slavery and how ICAEW can help
5 February 2021: Increasingly it is not enough to claim ignorance of modern slavery in a business or supply chain. Doing so may prove very costly to your reputation and your bottom line.
Webinars and podcasts
Forthcoming webinars
| Date | Webinar title | Accessibility and cost | Booking |
|---|---|---|---|
| 26 May, 1 September, 2 November 2022 | Modern slavery – responsibility, detection and accountability This 3 part series looks at how the concerns about modern forms of slavery have become increasingly prominent in the minds of the public as well as in policy environments. How these concerns translate into the work of accountants, however, are less well understood. |
Free to ICAEW Members and non members | Book now |
On-demand webinars and podcasts
| Date recorded | Webinar / podcast title | Accessibility and cost | Booking |
|---|---|---|---|
| 8 February 2022 | How do we tackle domestic modern slavery? This podcast looks at the issue of domestic modern slavery, and how authorities and prosecutors look to build a case under the Modern Slavery Act. |
Free to ICAEW Members and non members | Listen now |
| 28 September 2021 |
Modern Slavery Act 2015 - how to spot supply chain risk |
Free to ICAEW Members and non members | Watch now |
| 17 March 2021 |
Modern slavery: how to prepare a s54 statement – a case study Pentland Brands explains its approach to preparing a section 54 statement, including how it has evolved over the years and the challenges faced. |
Free to Business and Management Faculty members and subscribers | Watch now |
| 1 December 2020 | 5144 reasons you should take the Modern Slavery Act seriously This webinar from the Business and Management Faculty will provide background on the Act itself, international context and potential developments. |
Free to Business and Management Faculty members and subscribers and certain ICAEW communities | Watch now |
| 20 October 2020 | Supply chain assurance in the retail sector Join this webinar to hear Abigail Harper take you through a risk-based approach to providing supply chain assurance within the retail sector. |
Free to Business and Management Faculty members and subscribers | Watch now |
Useful links
- All Too Familiar - All Too Familiar is ICAEW’s third training film. It explores the degree of trust still placed in personal and professional relationships and whether trust is enough in the fight against economic crime. It aims to challenge mindsets and provoke discussion on the need for greater professional scepticism when faced with potential money laundering risks.
- Ardea International's Modern slavery and supply chain toolkit - Ardea International are a specialist sustainability, business and human rights consultancy with expertise in modern slavery. Their website has a range of resources on modern slavery.
- Modern slavery: Digital training for the financial sector - Details of the free digital training tool developed by the UK Modern Slavery Training Delivery Group, the UK Independent Anti-Slavery Commissioner, and Themis.
- Modern slavery training resource guide - Home Office guide that contains examples of training products available to public sector professionals and other individuals that might come across victims.
- Slavery and human trafficking in supply chains: guidance for business - Home Office guidance for organisations on how to ensure that slavery and human trafficking is not taking place in their business or supply chains.
- 2021 Annual Report on Modern Slavery - The Government's annual report on the prevalence of modern slavery and human trafficking in the UK.
- Forced labour, modern slavery and human trafficking - International Labour Organisation's review of modern slavery across the world.
- Modern slavery and local government - The Local Government Association's explanation of the role of councils in identifying and supporting victims of modern slavery.
- Modern Slavery Act - The legislation in full.
- ICAEW's Modern Slavery Statement - Read ICAEW’s own public commitment to working towards ensuring that there is no modern slavery or human trafficking in our supply chains or in any part of our business.
Ask ICAEW Technical Advisory Service
Get an opinion from the experts. Our experienced technical advisors can help you with your questions and offer practical advice on a wide range of specialist topics.
Talk to us via live web chat or call us on +44 (0)1908 248 250.