Question: Hello! During an internal export audit, I noticed that one of the carriers has been providing the Shipment Summary Report (SSR) instead of the Electronic Export Information (EEI). It’s worth noting that the SSR contains the information included in the EEI. What should we do in this case? Should we request the EEI for […]
Question: Hello Membership!! I am wondering how everyone is handling import entry audits in this time of increased workload and compliance enforcement. Are there are AI tools perhaps that are available for scraping import documents to compare against ACE/Broker reports? Answer 1: Hello, I have built a custom GPT within ChatGPT to review the 7501 […]
Question: Hello, We are looking for a consultant to help our Australia Branch run an Audit on their Import and Trade Compliance Program. Does anyone know a Trade Compliance Consultant in Australia or who specializes in Australian Regulations? Asked by: Chris Pophal – chris.pophal@promega.com Answer 1: We like Compliance OnDemand. Reasonable, thorough and fast. They […]
Question: Question: Would like to have the industries’ input on the following: Best practices for identifying quantity discrepancies, or payment, or value discrepancies for imports. Best practices for annual review of potential additions to value: packing costs, selling commissions, assists, royalty or license fees and process of resale or disposal. Answer 1: For number 1 […]
Question: Question: Would like to have the industries’ input on the following: Best practices for identifying quantity discrepancies, or payment, or value discrepancies for imports. Best practices for annual review of potential additions to value: packing costs, selling commissions, assists, royalty or license fees and process of resale or disposal. Answer 1: For number 1 […]
Question: My company self-files most of our shipments. Currently we audit 100% of these entries prior to the summary date. Since we use a GTM software to create these entries from the shipment, purchase order, and part table in the software (that we audit quarterly), we only audit a few elements that may require some […]
Question: I would like to ask ICPA members if there’s anyone here have the same scenario. Company A (located in the U.S but have locations globally) interested on acquiring Company B (located in U.S.). Company A is auditing Import and Export information and transactions from Company B within the last five years. Can Company A […]
Question: Do any other importers have “best practice” procedures for Finance/AP to audit the value of imported merchandise by comparing the payment for imported merchandise to its entered value and reporting any discrepancies to Import Compliance? Does U.S. Customs care if importers have such a cross-functional audit process in place? Answer 1: In the past […]
Question: I am working on creating a Trade Compliance assessment form for an upcoming internal import/export assessment. Does anyone have a general template they can share? Answer 1: Scope & Methodology. You will need to evaluate your company’s international trade and customs regulatory compliance processes against a set of recommended best practices in three areas: […]
Question: Hello, I wanted to know how to conduct a Trade Compliance audit, I joined the Global Trade Compliance team last year and I have been told to take the objective of auditing India operations for the year 2023. Our company is a specialty chemicals provider for the consumer market, transportation, and industrial segment. We […]
QUESTION: Our company is behind on auditing entries filed by one Canadian Broker that we no longer use. Due to heavy workload, it was suggested that we could outsource these audits to our current Canadian broker . However, most of these shipments are DDP. Non-dutiable freight, brokerage and included duty is deducted from the invoice […]
QUESTION: We’re a small company and I am the only person dedicated to our export control program. To comply with the annual audit requirement, what best practices are there for small companies to perform EC/ITAR program audits? Is it acceptable for me to perform the audit, or should it be a third party?%%%%%%%%%% ANSWERS: If […]
