Trade Solutions

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).

 

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