KPMG in Australia helped a major financial services institution prepare for modern slavery legislation in Australia. The objective was to build the organization’s capacity to address and mitigate modern slavery and human rights risks across its business.
KPMG assessed the organization’s procurement policies, risk management systems and remediation processes against current human rights best practice and standards. The research identified significant opportunities for improvement. A key priority was to improve the organization’s visibility of how its suppliers manage and address human rights issues.
KPMG human rights experts implemented a supplier engagement program that included visits to several of the organization’s suppliers across Asia-Pacific. Interviews with staff revealed that some suppliers were not adhering to relevant human rights policies and safeguards. Based on these findings, KPMG made recommendations on how the client could address human rights issues in its supply chain and how it could strengthen its human rights management capabilities.
KPMG continues to support the client in building its capacity to address human rights issues, for example by delivering training.
Richard Boele, KPMG in Australia