Conflict minerals reporting and auditing is a newly emerging practice, as May 31 is the submission date required by the SEC for the first reports of issuers’ efforts to track the gold, tantalum, tin, and tungsten in their supply chains.
The AICPA Conflict Minerals Task Force has developed new nonauthoritative guidance to address the attributes of a conflict minerals report that will facilitate an independent private-sector audit. The guidance also describes the use of various section headings and subheadings within the two sections that are expected to appear in a conflict minerals report based on the instructions to the SEC’s Form SD.
A new Question and Answer (.13) includes the guidance. The Q&A also links to a depiction of a conflict minerals report that illustrates other headings that might also be included.
Previously issued Q&As .01 to .12 are available on the AICPA’s conflict minerals resources webpage along with background and other useful information about the new conflict minerals requirements, as well as an expanded “Other Useful Links” section.