This KPMG International report, "Conflict Minerals and beyond – Part four: Lessons for an integrated compliance program", is the final in a four-part series that looks at Section 1502 of the Dodd-Frank and Wall Street Reform and Consumer Protection Act and its impact on companies around the world.
The report considers the lessons learned thus far and how they can be applied to a holistic compliance program covering a wide range of regulations, not just those relating to conflict minerals. It also examines the way in which companies have complied with the regulations in the first reporting period. It includes case studies of companies that have been working on conflict minerals – offering insights into challenges, lessons learned, and ideas for developing a conflict minerals program.
The annual filing of a conflict minerals report to the SEC is not the end of the matter. Companies can expect to see increased pressures for supply chain transparency and having to meet stricter disclosure requirements in the future. KPMG recommends filers should not regard conflict minerals compliance merely as a box-ticking exercise, but as an opportunity to build a supply chain program in which the links between different regulations are clearer and the management of regulatory risk is made more coherent.
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