“Exploring modern slavery in developed countries”

…the number of people living in modern slavery conditions in Australia has more than doubled since 2018…

Accountants and finance professionals are particularly well‑placed to identify red flags within business operations that can help flesh out and eliminate modern slavery practices hidden in plain sight…

…forced labour largely occurs in industries such as agriculture, construction, domestic work, cleaning, hospitality, meat processing and food services.

Many of these industries rely on migrant workers who enter Australia on temporary visas…

In Australia, modern slavery tends to be prevalent in sectors where there is a service that relies on cheap labour, says Amy Sinclair, human rights lawyer and regional representative for Australia, New Zealand and Pacific with the Business & Human Rights Resource Centre.

“People’s starting point with modern slavery is often that it’s something that happens offshore – that goods are coming into Australia from countries where there are sweatshops, and that it’s not a problem here…

In Australia, businesses with a consolidated revenue of more than A$100 million are required to report annually on the risks of modern slavery in their operations and supply chains under the Modern Slavery Act 2018.

This may be extended to include businesses with revenue of A$50 million, if the recommendations of a review of the Act are agreed to by government…