Modern
slavery act
statement

Iress Limited (Iress) is a leading technology company, designing and developing software and solutions for the financial services industry. Iress operates across Asia-Pacific, the United Kingdom & Europe, Africa and North America. We have prepared this statement in accordance with the Modern Slavery Act 2015 (UK) (a UK Act) and the Modern Slavery Act 2018 (Cth) (an Australian Act) (the Acts).

Key actions in 2023

Supplier Code of Ethics & ongoing action in engaging new suppliers
The Supplier Code of Ethics and Conduct was reviewed and updated in April 2023 defining rules of engagement with suppliers. When engaging with any and all new suppliers through an RFP process, Iress follows the following process:
• Suppliers receive a link to the Iress Corporate Governance documents including:
• the Modern Slavery Statement and
• the Supplier Code of Ethics and Conduct Policy.

Workshop & training
An internal human rights workshop facilitated by an external consultant was held during the reporting period. Attendees across ESG, legal, procurement, people, compliance and risk management teams were represented as well as Leadership and Board representatives - including the Chair of the Board Audit & Risk Committee. Topics covered included defining Modern Slavery, analysis of Iress’ supply chain risk assessment and opportunities for continuous improvement.

Risk assessment
Iress engaged a human rights consultancy to undertake an in-depth modern slavery risk assessment using reputable data sources to quantitatively and qualitatively determine risk based on Iress’ spend and operational activities. This process identified high risk supply chain categories for further investigation and action, a need for improvement in due diligence and grievance mechanisms as well as informing the key priorities identified in ‘Ongoing Commitment’.

Due diligence and risk management
Iress undertook an external review of due diligence processes via desktop analysis and engagement with key stakeholders at Iress with recommendations for improvements. The current process for due diligence 18 at Iress is undertaken at the onboarding stage and post-contract. The risk assessment undertaken in 2023 identified high risk categories which require further investigation including targeted auditing of individual suppliers and category management plans. A core group from business including procurement, legal, finance and operations are informed if there is a red flag from the Self Assessment Questionnaire or real time data monitoring. The external review identified gaps and limitations which will be addressed in 2024.

Grievance procedure review
Iress undertook an external review of Iress’ grievance mechanism and assessment against benchmark effectiveness criteria.

Enterprise risk integration
As a global technology company and licensed financial services business, the dynamic market and business in which Iress operates has evolved, and will continue to do so. Accordingly, a robust, consistent and effective risk management framework which proactively identifies, manages and mitigates risks is essential for the ongoing success of Iress. In 2023, we further enhanced our risk management framework, which is underpinned by the principles outlined in ISO 31000: 2018 – Risk Management Guidelines. Iress has considered modern slavery in its enterprise risk assessment and has included it as a key risk in the risk register as part of ESG, including assigning a risk owner, assessing control effectiveness and documenting key actions to achieve target risk rating.

The 2023 statement is currently under review and has not been published on the Modern Slavery Register.

Modern slavery statements are available for download below:

• 2020 Modern Slavery Act Statement
• 2021 Modern Slavery Act Statement
• 2022 Modern Slavery Act Statement
• 2023 Modern Slavery Act Statement