Current stage:

Issue Prioritisation Development Selection Implementation

Improvement overview

As part of the Chain of Custody Program Review, the MSC has revised the structure and content of the Chain of Custody (CoC) Certification Requirements to increase its accessibility and navigability. The revisions have been released on 20 February 2015.

Current status

Following feedback from two rounds of public consultation, The MSC’s Technical Advisory Board (TAB) and Board of Trustees (BoT) approved the release of the updated CoC Standard Version 4.0.

Core updates are outlined below:

  • The sequence of clauses has been rearranged to group related topics together and create a more logical flow.
  • Guidance has been incorporated into the document alongside relevant clauses.
  • Clauses have been re-written or deleted to eliminate repetition, inconsistencies, and redundancy.
  • Client-facing annexes have been removed. All client-facing material has now been moved to the CoC Standard.
  • There are now only two options for surveillance frequencies: annual (the majority of companies will fall under this category) or every 18-months (for low risk traders).
  • Audit process has been improved by making the evaluation section more prescriptive for clients and their subcontractors, introducing a minimum audit duration for high-risk companies and unannounced audits at a very low level.

View the Chain of Custody Certification Requirements Version 2.0 >

View the full Chain of Custody Summary of Changes >

Planned work

From 1 September 2015, all companies will be audited against the new version of the CoC Standard and Certification Requirements at their next audit. However, if you are a client and your next audit is before September 2015, please talk to your certifier to confirm which Standard or Certification Requirements version you will be audited against.

Download all current scheme documents >

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