Some corporations are ahead of the game as they have begun the process of identifying their supply chain for conflict minerals. Now that the rule is final, many corporations are determining how to implement in a calendar year report versus a fiscal year report. KPMG has developed a practical approach for conducting due diligence on conflict minerals.
Compliance with the provision will be a daunting task—many businesses will find it difficult to conduct due diligence on the origin of the conflict minerals. Considering the current ambiguity around the provision, the major hurdle for businesses will be to devise a strategy to determine the source of materials.