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SEC Conflict Minerals Rule: Audit & Consulting Bonanza

Date: 11 April 2013

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6 pages

Executive Summary

Revenues from the mining of gold, tantalum, tin and tungsten — referred to as conflict minerals — in the Democratic Republic of Congo and surrounding countries may finance armed groups in the region. In response to this humanitarian issue, the US Securities and Exchange Commission (SEC) finalized a conflict minerals ruling in August 2012 that requires reporting firms to disclose whether these minerals appear in a firm’s supply chain or final product. This report analyses the opportunities the rule creates for professional services firms and explains how sustainability practice leaders can capitalize on those opportunities for both advisory and audit services. The SEC estimated initial compliance spending by affected firms will reach $3 billion which dwarfs the forecasted spend of $693 million on sustainability business consulting in the US in 2013.

TABLE OF CONTENTS

 

SEC CONFLICT MINERALS RULE CREATES AN AUDIT & CONSULTING BONANZA

Firms Must Follow Three Steps To Comply With SEC Conflict Minerals Rule

Meeting The SEC’s Requirements Poses Significant Challenges

Sustainability Practice Leaders Need To Grab Hold Of The Conflict Minerals Opportunity

 

ORGANIZATIONS MENTIONED

Apple, AT Kearney, Best Buy, Bureau Veritas, Costco, Dell, Deloitte, DNV, Electronic Industry Citizenship Coalition, EY, Global e-Sustainability Initiative, Global Reporting Initiative, HP, KPMG, Lowe’s, McKinsey, PwC, Target, US Securities and Exchange Commission, Walmart.