The role of audits and certification in mandatory due diligence legislation
Feb 19, 2024 | 9:00 AM - 10:15 AM
Feb 19, 2024 | 9:00 AM - 10:15 AM
Description
Organised by: the Federal Ministry for Economic Development and Cooperation (BMZ)
The German Act on Corporate Due Diligence in Supply Chains (LkSG) has been in force in Germany for a year. Meanwhile, negotiations are underway at the EU level for a European Supply Chain Directive. One relevant and at the same time very controversial issue is the role that voluntary audits and certifications can play for companies implementing their mandatory due diligence obligations.
• What are the benefits of using voluntary instruments to meet due diligence requirements, and what are their limitations and risks?
• What are the (potential) implications of mandatory due diligence legislation for the voluntary auditing and certifications sector? Will they become redundant, or will they play an even bigger role?
• What changes and actions are needed and by whom to ensure that audits and certifications are useful tools in corporate due diligence?
This side event will supplement the main session on the role of standards/certification in the OECD Forum
by, inter alia, examining the discussions and experiences in Germany thus far with the implementation of the LkSG. We are hence very much looking forward to facilitate a panel discussion among representatives of the German Federal Office for Economic Affairs and Export Control (BAFA, the agency of the Due Diligence Act), civil society, the Green Button and a company.
Please click here to join the side session.
