This paper conceptualizes the impact of stakeholder engagement on the effectiveness of modern slavery legislation in enhancing supply chain transparency within Australian organizations. By leveraging Stakeholder Theory, Institutional Theory, and Modern Slavery Theory, the study develops a conceptual framework to analyze how the engagement of stakeholders can influence supply chain transparency when organizations comply with modern slavery legislation. The framework integrates Schäfer’s sustainable supply chain transparency dimensions with elements of the Australian Modern Slavery Act 2018 (Cth), such as quality of reports, risk assessment coverage, ethical practices implementation, and supply chain visibility. This study addresses the gap in empirical research on the efficacy of modern slavery legislation and the role of stakeholders in promoting transparency. The findings are intended to guide organizations in developing strategies to comply with modern slavery laws, improve supply chain transparency, and foster ethical practices. The proposed model sets the stage for future quantitative research to test and refine the relationships between legislative compliance, stakeholder engagement, and supply chain transparency, providing actionable insights for policymakers, practitioners, and researchers.