As part of this many organisations will be asking questions of their own suppliers and even refusing to trade with organisations that do not address the risk of modern slavery within their business. Coupled with the fact that more and more countries are starting to impose similar obligations it is clear that accountants and auditors whether in practice or in business have a role to play.
These resources created by the Business Law department and the Business and Management Faculty are to help members identify how they can help to assess and mitigate the risks of modern slavery within their own business or that of their clients.
Actions for internal auditors
This guide explains the role of an organisation’s internal audit function, and where there is no such function, best practice for management to ensure all risks to the business have been assessed and the relevant controls are in place.
How to report modern slavery
A guide to the various ways you should report suspicions of modern slavery in your own organisation or your client’s business and what you should do if you suspect someone is a victim of modern slavery.
Making a Suspicious Activity Report
Modern slavery is often linked to economic crimes such as money laundering. As an ICAEW member, if you suspect that money laundering may be taking place, you are legally obligated under the 2017 Money Laundering Regulations to submit a SAR to the National Crime Agency.
- Read the guidance on how to do this
Being Accountable: Modern Slavery and the Accountancy Profession
A discussion on the role of accountants and the financial sector in the fight against modern slavery. Participants include representatives from ICAEW, the Big 4 and academia.
- The role of External Auditors
- Culture and the SDGs