The UK Modern Slavery Act – what does it mean for business?

When the Modern Slavery Act was introduced in 2015, it was described as ‘historic’ and the ‘first of its kind in Europe’. It is in fact part of a worldwide movement for greater transparency. The issue of extra-territoriality is indeed one of the hallmarks of the new Act, moving it firmly into the purview of corporate compliance departments and compliance management systems.

Responding to commercial globalisation, which has added greater levels of complexity to supply chains, sustainability challenges and the undeniable impact of reputational damage to an organisation’s bottom line, the Act is as much about prevention as it is about prosecution.

With recent evidence suggesting that businesses are unaware of the impacts of the Modern Slavery Act, the latest article and advice from Idox Compliance focuses on what the Act means for organisations across the UK and takes a look at the measures that need to be implemented to ensure that governance and business integrity are maintained.

Read the full article: The Modern Slavery Act – what does it mean for business?