How to Prepare for an Import/Export Audit hosted by EDPNC

Description

Do you know how to respond if the Customs Border Protection (CBP) or Bureau of Industry and Security (BIS) arrives at your business? Have you ever received a request for additional information from CBP or BIS by fax or phone? Has another division of your company been interviewed or audited? Do you have written procedures in place to guide employees in case of an audit? What strategies can you implement to minimize the impact of a potential audit?
 
This program will prepare your company for an import/export audit. Whether you are an experienced importer/exporter or new to the process, this program is essential to ensure you know how to respond in case of an audit—and more importantly, what you can do now to prepare. It will cover the roles and responsibilities every importer/exporter must understand to avoid fines, delays, and potential loss of import/export privileges. You will receive an import/export checklist to help you prepare for an audit. We will provide all materials, handouts, checklists, and online resources.
 
Topics Covered:

• Review best practices and common mistakes made by importers and exporters.
• Understand the roles and responsibilities of importers and exporters during an audit.
• Learn about the 9 most frequent errors importers make, as identified by Customs.
• Understand the 10 general prohibitions every exporter must follow.
• Discover the 10 best practices of compliant companies.
• Learn the 5 rules for proper valuation, including the first sale rule.
• Explore the 3 types of duty drawbacks and review manufacturing assists.
• Review factors that can mitigate or aggravate an audit's outcome.
• Discover strategies to shorten audit duration and minimize penalties.
• Utilize import/export checklists to ensure full compliance before an audit.
• Understand the benefits of voluntary self-disclosures.
• Learn the steps for self-auditing to protect and prepare your company.