Modern Slavery Act Section 54 - Compliance rating and performance factor
What is it?
This data subscription analyses modern slavery act statements on technical compliance metrics for the UK Modern Slavery Act 2015: Section 54, to provide an overall rating of statement quality. It does not provide an indication of whether the information is accurate or true, but does enable subscribers to focus on the actions reported rather than compliance hygiene factors.
Who is it for?
This data subscription is for Company Officers with responsibilities in:
Procurement & Supply Chain
Risk & Finance
Sustainability & CSR
Compliance & Legal
Ethical Business Development
What can it do for you?
AI-driven Analysis: The subscription utilises advanced AI algorithms to analyse and assess Modern Slavery Act statements with a focus on technical compliance criteria. This ensures a comprehensive and systematic evaluation of statements.
Scalability: The AI-driven approach allows for the rapid processing and analysis of a large number of statements, making it suitable for companies with a substantial supply chain and those looking to evaluate multiple statements efficiently.
Automated Assessment: The AI system automates the assessment process, reducing the need for manual review and enabling more efficient use of resources. This is particularly beneficial when dealing with a high volume of statements.
Technical Criteria Evaluation: The subscription evaluates statements based on specific technical compliance criteria outlined in the Modern Slavery Act. This ensures that the assessment is aligned with legal requirements and industry standards.
Consistency: AI ensures a consistent and unbiased evaluation process, minimising subjective interpretations that might arise from manual reviews. This consistency is crucial for maintaining accuracy and fairness.
Real-time Updates: The subscription can be updated regularly to adapt to changing regulations and evolving best practices, ensuring that assessments remain relevant over time.
Customisable Parameters: The AI model can be fine-tuned to incorporate customised parameters that reflect specific industry nuances, organisational policies, or stakeholder concerns. It can also cross-reference against other compliance metrics held within tiscreport. A bespoke report can then be generated. Contact us about your requirements.
Efficiency: The automated nature of the AI assessment saves time and resources that would otherwise be spent on manual review, allowing organisations to focus on addressing areas that need improvement.
Risk Identification: The AI-driven ratings help businesses identify potential risks related to modern slavery within their supply chains. This enables proactive risk mitigation strategies and compliance efforts.
Transparency: Transparent AI-driven assessments provide clear insights into the compliance status of Modern Slavery Act statements, enabling organisations to communicate their efforts accurately to stakeholders.
Data-Driven Decision-Making: Organisations can make informed decisions based on the AI-generated ratings, prioritising actions based on identified compliance gaps.
Benchmarking: The subscription facilitates benchmarking against industry peers by comparing AI ratings, enabling organisations to gauge their efforts in addressing modern slavery relative to others.
Demonstrating Progress: Organisations can use the subscription to track their progress over time, showcasing improvements in compliance and efforts to combat modern slavery.
Enhanced Accountability: The AI ratings can enhance accountability by providing objective evidence of compliance efforts, which can be shared with stakeholders, investors, regulators, and customers.
Reduced Legal Risks: By ensuring technical compliance with the Modern Slavery Act, organisations can reduce legal risks and potential penalties associated with non-compliance.
More about the data
This is a much deeper analysis of Modern Slavery Act statements submitted by companies to UK Government compared to our other MSA datasets. In our research we found a number of organisations doing the bare minimum when it came to assessing the steps they were taking to minimise the risk of modern slavery in their supply chain.
To produce this dataset we have audited over 80k statements (and continue to do so) for our members and the organisations within scope of the Modern Slavery Act to determine if the statements meet the criteria set out by the Home Office. To make this information easily digestable when looking at thousands of companies we have produced a Compliance rating system where anything below a score of 5 means the statement is not fully compliant with the Home Office criteria.
You can use this rating system to find the worst offenders or celebrate those going above and beyond!