Audit is a systematic examination of a business’s compliance with import or export regulations.
In U.S. international trade, an audit is a formal review of a company’s records and procedures to ensure they are following all laws. These can be conducted internally (a self-audit) or by a U.S. government agency.
U.S. Customs and Border Protection (CBP) Audits
CBP conducts compliance audits (formerly Focused Assessments) on importers. They review years of import entries to verify that the importer has used “reasonable care” in correctly declaring the value, classification (HTSUS), and country of origin for all goods, and has paid the correct amount of duties.
Bureau of Industry and Security (BIS) Audits
BIS audits exporters to ensure they are complying with U.S. export controls, correctly using ECCNs (Export Control Classification Numbers), obtaining export licenses when required, and adhering to the Destination Control Statement.