Extracting the truth about rare earths
Many high-tech applications, including those in defence, communications, automotive and computing, rely heavily on rare earth metals. Then why is this vital industry shrouded in mystery?
For starters, understanding the rare earths industry is about understanding a transaction as it moves through a number of parties within a supply chain.
A diligent accountant must achieve an appropriate level of confidence that the transactions are correctly accounted for, and that risk points within the supply chain do not give rise to adverse exposure, in terms of “modern slavery, bribery of foreign officials, undue payments, money laundering and even to hide terrorism financing”.
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