Best Operational Practices for Complying with SEC and Customer Requirements Identified
Woburn, MA -- (SBWIRE) -- 08/05/2014 -- Green Status Pro, the leader in Conflict Minerals Reporting Automation, is distributing for free a concise e-book describing industry best practices. Written by Rob Kasameyer, president of Green Status Pro, Conflict Mineral Reporting: 12 Lessons Learned for 2014 identifies the initiatives industry leaders are putting in place to comply with the requirements of Dodd-Frank Section 1502 and the SEC Conflict Minerals Final Rule.
This free e-book can be downloaded by clicking here.
Conflict Minerals Reporting: 12 Lessons Learned for 2014 is a survival guide for managing current challenges, including meeting the expectations of senior corporate management. It provides both experienced compliance managers and those newly assigned fresh insights and wisdom.
“SEC Filers are using the remainder of 2014 to put in place the Conflict Minerals policies, procedures and reporting systems needed by January 1, 2015, to pass the SEC-required Independent Private Sector Audit (IPSA),” reports Mr. Kasameyer. “Supply chain transparency back to the smelters is a key objective of this effort but there are many obstacles to success, including lack of time. Companies that properly automate the Conflict Minerals Reporting process gain the advantages of significantly lower program costs and superior customer relationships.”
The first Form SD filing, completed June 2, 2014, significantly changed the role of Conflict Minerals Reporting. Competency in Conflict Minerals Reporting is now both a source of competitive advantage as well as a cornerstone for Responsible Sourcing.
“One of the most important lessons learned is that automation is critical to Conflict Minerals Reporting success.
For example, there are important differences between the recently released CFSI CMRT Version 3 and previous EICC-GeSI CMRT Version 2s that cannot be effectively managed manually,” stated Leo DeNevi, Green Status Pro CTO. “Supplier smelter data validation, aggregation, transparency, accuracy and audit trails can only be cost-effectively documented with automation.”