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Due Diligence

due diligence

On 1 December 2014, the Australian Government announced an independent review into the impact of the Illegal Logging Prohibition Regulation 2012 on small business with less than $10 million annual turnover. Source: Timberbiz

The Government has appointed KPMG to conduct the review, which is due to report back to Senator Colbeck by the end of March 2014.

KPMG will assess whether the existing due diligence requirements strikes an appropriate balance between the cost of compliance for small businesses and reducing the risk of illegally logged timber entering the Australian market.

As part of the review KPMG want to interview 50 importers and 10 domestic processors that are affected by the new regulation.

While the terms of reference are clearly focused on small business (total turnover of less than $10 million in total), they will need to understand how the regulations have impacted different sized businesses.

They stress the confidential nature of the interviews.

If any importers or domestic processors are interested in being interviewed by KPMG please email them at [email protected]
If you are struggling with understanding the regulation and/or how to exercise due diligence book into one of the industry training seminars for importers.

The first locations and dates for 2015 are:

  • Melbourne:   Tuesday 17 February 2015
  • Sydney:   Thursday 19 February 2015
  • Brisbane:   Tuesday 24 February 2015

Cost is $495 per person and includes lunch. All participants will receive a Due Diligence Guide and Toolkit.
For further information and booking go to www.timberduediligence.com.au