Factsheet - Modern Slavery

Factsheet

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Author

IIA-Australia

Date

2022

Topics Explored

Governance, Risk Management

Format

Factsheet

Extract/Description

Modern slavery involves use of coercion, threats or deception to exploit victims and undermine their freedom. Modern slavery is serious exploitation. It may exist in business operations and supply chains and is a violation of human rights.

Key Points

1 .The ‘Modern Slavery Act 2018’ came into force in Australia on 1 January 2019.

2. Organisations based or operating in Australia with an annual consolidated revenue of more than $100 million are required to report annually on the risks of modern slavery in their operations and supply chains, and on their actions to address those risks.

Relevant Industries

All

Level of Assumed Knowledge

Intermediate

Aligned to Global Internal Audit Standards

No