Is your company a leader or a laggard?
According to Source Intelligence, when it comes to conflict minerals compliance, chances are that you’re in the latter camp.
“In our analysis of SEC filings this year and through our detailed ongoing observations, far too many companies are severely lagging in getting commitments from suppliers to provide detailed information,” said Jess Kraus, CEO of Source Intelligence, in a press release this week. “This is a huge obstacle, especially since we are fast approaching a key stage in Dodd-Frank – audited and verifiable reports on source materials.”
That key stage – the requirement of audited and verifiable reports – is soon coming to an end, with the initial grace period running out at the end of December 2014.
How to Prepare for Conflict Minerals Rule Compliance
“Supply chain management requires a constant education and verification process with thousands of suppliers,” Kraus said, according to the release. “Suppliers, supply routes and location of source materials constantly change. Keeping tabs on these changes demand around-the-clock due diligence.”
In case you missed it upon release, Source Intelligence’s recent white paper on the topic, “Conflict Minerals: Year In Review,” explores the key approaches that all 1,292 companies that filed by the June 2014 deadline should be taking – especially when it comes to preparing for the upcoming independent private sector audits (IPSA).
So if your company has filed or will file with the SEC to comply with the Conflict Minerals Rule, do your back-to-school homework:
More downloads from Source Intelligence: