Complying with the Act
Managers of enterprises should become familiar with the Transparency Act and its requirements so they can ensure that sufficient resources are allocated for compliance with the Act. They need to establish systems internally that enable them to answer requests within the three-week deadline.
Existing policies and risk assessment forms that form the basis for the due diligence assessment also need to be updated. These policies must cover the requirements of fundamental human rights and decent working conditions. The risk assessment should the enterprise itself, its supply chain, and business partners. Enterprises can turn any potential business risks into a competitive advantage by allocating sufficient resources to the Transparency Act.
We can help with Due Diligence
The CRI Group has developed a highly specialised assessment solution for Corporate Due Diligence and Third-Party Risk Management to assist organisations in accurately identifying, preventing, mitigating and addressing actual and potential adverse impacts of affiliating with global partners and complies with all EU mandates.
From enhanced due diligence to identify non-compliance of the regulatory framework and damaging environmental allegations to investigating company (or stakeholder) human rights violations related to labour laws, child labour or human trafficking, CRI Group experts help determine the legal compliance, financial viability, and integrity levels of outside partners and suppliers affiliated with your company’s value chain.
The Benefits of Compliance
Recent studies have demonstrated a positive correlation between the extent to which companies implement environmental, social and good governance policies, and their overall economic performance, all while contributing to a more stable global marketplace. Such responsible business conduct will:
- Enhance protection for workers
- Improve access to justice for victims
- Safeguard the environment
- Ensure fair products for consumers
Further, apart from general compliance with EU mandates, such organisations will benefit from:
- Reduced overall liability risks
- Improved stakeholder protection
- Lower costs resulting from conflicts
- Improved company transparency
- More profound knowledge of the value chain
- Enhanced reputation in the market &
- Improved social standards for workers
CRI Group’s corporate due diligence and accountability solutions can help your organisation comply with a growing list of global regulations and mandates related to human rights and the environment while acting as an integral part of your business decision-making and risk management systems.
Contact the CRI Group to learn more about our Corporate Due Diligence and Accountability solutions and stay one step ahead of the pending EU mandates. We look forward to assisting you.
About CRI Group
Based in London, CRI Group works with companies across the Americas, Europe, Africa, Middle East and Asia-Pacific as a one-stop international Risk Management, Employee Background Screening, Business Intelligence, Due Diligence, Compliance Solutions and other professional Investigative Research solutions provider.
We have the largest proprietary network of background screening analysts and investigators across the Middle East and Asia. Our global presence ensures that no matter how international your operations are, we have the network needed to provide you with all you need, wherever you happen to be. CRI Group also holds BS 102000:2013 and BS 7858:2012 Certifications, is an HRO certified provider and partner with Oracle.
In 2016, CRI Group launched the Anti-Bribery Anti-Corruption (ABAC®) Center of Excellence – an independent certification body established for ISO 37001:2016 Anti-Bribery Management Systems, ISO 37301 Compliance Management Systems and ISO 31000:2018 Risk Management, providing training and certification.
ABAC® operates through its global network of certified ethics and compliance professionals, qualified auditors and other certified professionals. Contact ABAC® for more on ISO Certification and training.