Trading Solutions

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).