As previously announced, The Elm Consulting Group International LLC today released its Self-Implemented Conflict Minerals Audit Preparation© (SICMAP℠) for commercial availability. As part of the product release, a short introductory video provides an overview of the tool, its features and functionality. We are in the process of uploading a true HD version of the video on our website. Until that is completed, the version posted here has limited resolution even when viewed in HD mode (the “HD” icon in the upper right hand corner of the viewer window below.) If you have access to YouTube, the video can be viewed in better quality here.
Read more →Updated March 2012: See our most recent announcement. The Elm Consulting Group International LLC today announces a groundbreaking cost effective tool to support companies preparing for conflict minerals traceability audits or customer inquiries. The delay in SEC’s final rule triggered many questions from companies about planning and pre-audit preparation. This led us to a solution that is valuable in almost any foreseeable final regulation scope/content and companies planning responses to customer inquiries – yet significantly reduces costs during this period of uncertainty. Elm’s Self-Implemented Conflict Minerals Audit Preparation© (SICMAP℠) is conceptually similar to a self-audit checklist. SICMAP℠ is a spreadsheet tool that maximizes the use of internal company staff for cost reduction and implementation flexibility to develop and review conflict minerals programs in advance of third party auditing. SICMAP℠ focuses on basic program elements equally relevant to companies responding to customer inquiries/procurement requirements and those working to comply with the upcoming SEC regulations on conflict minerals. Successive and more complex tasks – for both program development and audit preparation – are identified based on initial SICMAP℠ findings, lessons learned from working through the SICMAP℠ process, and the final regulatory requirements once they are known. The final rule, when published, will
Read more →On Tuesday May 31, The Elm Consulting Group International LLC will formally announce a major development in our conflict minerals traceability services. Lawrence Heim, Elm Director and leader of the firm’s conflict minerals services: SEC’s delay in promulgating their final conflict minerals rule has resulted in a significant amount of uncertainty within affected companies. Many of these companies are challenged by cost constraints as they seek information, guidance and solutions to yet-unknown compliance standards. Our announcement next week provides a highly cost-effective solution in balancing these challenges. If you would like to receive the announcement and related information directly, send an email to Lheim@elmgroup.com.
Read more →The wikipedia entry on conflict minerals has been substantially edited to reflect recent events, add definitions and provide details on the substantive provisions of the auditing and disclosure requirements of the law.
Read more →In case you missed it, the Dodd-Frank Wall Street Reform and Consumer Protection Act signed into law yesterday by President Obama also included new auditing and disclosure requirements for companies who use certain ores/minerals in their products. The requirements apply to certain materials that originate from the Democratic Republic of the Congo – called “conflict minerals”. These are defined as columbite-tantalite (coltan), cassiterite, gold, wolframite, or their derivatives; or any other mineral or its derivatives determined by the Secretary of State to be financing conflict in the Democratic Republic of the Congo or an adjoining country. The text of the new legislation that was included in the Dodd-Frank bill signed into law is below. SEC. 1502. CONFLICT MINERALS. (a) SENSE OF CONGRESS ON EXPLOITATION AND TRADE OF CONFLICT MINERALS ORIGINATING IN THE DEMOCRATIC REPUBLIC OF THE CONGO. It is the sense of Congress that the exploitation and trade of conflict minerals originating in the Democratic Republic of the Congo is helping to finance conflict characterized by extreme levels of violence in the eastern Democratic Republic of the Congo, particularly sexual- and gender-based violence, and contributing to an emergency humanitarian situation therein, warranting the provisions of section 13(p) of the Securities
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