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Compliance Assessments, Customs Audits and Recordkeeping Requirements |
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The customs laws require that importers and exporters exercise reasonable care in assuring that declarations on Customs documents are true and correct. The U.S. Customs Service regularly audits importers to determine whether their import procedures and recordkeeping systems are in conformity with applicable rules and regulations. Instances of noncompliance, which are discovered in the course of an audit can result in additional duty or penalty assessments. A similar standard has been set for exporters who claim refunds under a drawback program. Customs auditors' reviews are not limited to entry and financial documentation. Compliance Assessments include the examination of recordkeeping systems, internal controls and Customs compliance procedures. The firm represents clients in all facets of compliance assessments, Customs audits and related investigations. We are experienced in developing internal procedures and recordkeeping systems to ensure compliance with the applicable regulatory requirements. The firm also handles compliance reviews and audits related to the North American Free Trade Agreement (NAFTA) (view), Foreign Trade Zones (FTZs)(view), Drawback (view) and Customs brokerage operations (view). |
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