Compliance Audits
An export compliance audit is designed to
verify a company's adherence to
existing trade control procedures. It provides
management a more stringent
assessment of a company's trade compliance
operations, than an initial
compliance evaluation or "gap" analysis. It is
a thorough review of procedures,
much the same as a government agency would test
the firm's compliance.
MK Technology's export compliance audits generally include a variety of techniques, including interviews, document review, and transaction review. Interviews include a sample of employees from various functions, both those with specific responsibilities under the company's compliance program and other employees not involved in export on a day-to-day basis to assess their awareness of export-related issues. MK Technology's compliance audits are designed to accomplish the following objectives:
* Determine whether policies and procedures have been kept current
* Verify compliance with screening requirements and restrictions on destination, end-use, and end-users
* Confirm that required export licenses and authorizations are being obtained and that the company is in compliance with all license conditions
* Determine whether records are being maintained in accordance with outlined procedures
* Confirm that written procedures are followed in day-to-day practice.
Following the audit, MK Technology provides a written report of its findings and advice on necessary steps to achieve compliance and to minimize enforcement risk. This typically involves establishment - or improvement - of an Export Compliance Program or an Internal Control Program (ICP).
MK Technology's export compliance audits generally include a variety of techniques, including interviews, document review, and transaction review. Interviews include a sample of employees from various functions, both those with specific responsibilities under the company's compliance program and other employees not involved in export on a day-to-day basis to assess their awareness of export-related issues. MK Technology's compliance audits are designed to accomplish the following objectives:
* Determine whether policies and procedures have been kept current
* Verify compliance with screening requirements and restrictions on destination, end-use, and end-users
* Confirm that required export licenses and authorizations are being obtained and that the company is in compliance with all license conditions
* Determine whether records are being maintained in accordance with outlined procedures
* Confirm that written procedures are followed in day-to-day practice.
Following the audit, MK Technology provides a written report of its findings and advice on necessary steps to achieve compliance and to minimize enforcement risk. This typically involves establishment - or improvement - of an Export Compliance Program or an Internal Control Program (ICP).