Crowe Horwath has introduced technology to help companies comply with the Securities and Exchange Commission’s new conflict minerals rule requiring them to perform due diligence to determine whether their products contain tin, tantalum, tungsten, or gold, determine the country of origin for those minerals and report their findings to customers and the SEC.
The conflicts mineral rule was mandated by Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The intent is to cut off funding to armed rebels responsible for human rights abuses in the Democratic Republic of the Congo and adjoining countries where these minerals are mined and sold. To help with this effort, SEC registered companies now must conduct reasonable country of origin inquiries and other analyses and report on those findings.
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