The Emergence of Corporate Due Diligence and Transparency Reporting
In a recent article on CSRwire, compliance advisor, Brad Brooks-Rubin discusses the evolution in supply chain regulations that is more focused on due diligence, rather than particular results. He explains that the due diligence process does not look to penalize companies for a bad outcome, but instead punishes them for not trying to avoid that outcome. This process is best illustrated by Dodd-Frank Section 1502, which requires a company to find out if any of their suppliers manufacture products that contain tin, tantalum, tungsten or gold, and in addition, identify if those minerals originated in the Democratic Republic of Congo. The company must then publicly report their findings to the SEC, so it is know if they support the use of conflict minerals.
With board-level attention on SEC regulation requirements and heightened human rights violations, global brands must deliver value to consumers and shareholders AND meet environmental and social standards deemed desirable by a few very vocal members of the general public.
Protecting the bottom line requires that companies implement programs to avoid tragic supplier events linked to their brand and take a proactive stance in creating, improving and maintain a positive public relations image.
Source Intelligence has put together a Social Audits Webinar that addresses Mr. Brooks-Rubin's argements.
Watch this FREE Social Audits Webinar to learn:
- How emerging Audit Support Tools deliver an easy to use, intuitive mechanism for completing online and offline customizable audit templates.
- What kinds of documents Auditors upload for internal and/or external stakeholders to review and approve.
- How to eliminate managing 100s of spreadsheets and tens of thousands of paper surveys using a flexible platform for a complete audit trail of all records associated with an organization or factory.
- How to strategically access stored data for analysis of past audits and factory records.
- What leading companies are doing to integrate social audits into their overall suite of Corporate Social Responsibility programs such as FCPA, Illegal Sourcing and/or Conflict Minerals Compliance.
- Immediate next steps for implementing an cost-effective solution, reliable solution that scales in a secure cloud infrastructure.
To Read all of Mr. Brooks-Rubin’s article click HERE
To watch the Social Audits Webinar click HERE