Compliance Management

Compliance Management

Don’t let the next customs compliance audit catch you off-guard.

It’s a small price to pay to be proactive, especially when you compare it to the enormous price you pay for negligence when it comes to compliance with customs regulations. What we do is encourage proactive compliance assessment and compliance monitoring so that you have better import and export customs control.

In the long-term, it’s about developing a whole new DNA of customs compliance in your company, so that you don’t encounter any unexpected surprises in the next customs compliance audit.

We will help you:

• Identify inherent compliance risks, weaknesses and gaps within your company’s process and procedures.
• Make recommendations for use of technology to manage voluminous transactions.
• Develop compliance manuals, KPIs and training programs to educate and create awareness within your organization.
• Assist your internal auditors to prepare on-going internal audit programs to mitigate inherent risk.
• Provide on-going training programs.

Here’s an example:

Although Hong Kong is a free port, unknown to many is that there is stringent import & export control regulations in place. Failure to comply with these regulations can result in heavy penalties – on summary conviction, a fine of $500,000 and imprisonment for 2 years; and on conviction on indictment, an unlimited fine and imprisonment for 7 years.

In 2011, HK Customs examined 80,296 packages of imported/exported cargo; checked 6,554 import/export licenses; completed 268 investigation cases; and prosecuted 38 persons/companies in 32 cases with a total fine of $1,100,000.

Don’t be reactive: be proactive!

In Asia, transparency in dealing with cross border activities is a real issue. Time and again, we see companies spend a fortune to help to get them out of trouble. If they had had proactive measures to ensure their supply chains were in compliance with cross-border customs regulations to begin with, the trouble could have been avoided.

Rebuild your in-house DNA of regulatory compliance.

We will help you to create a new culture amongst your senior management, to reform the very DNA of your processes so that all your departments are working harmoniously to ensure customs compliance.

With the new genome, your proactive customs practice will identify any compliance issues before they become issues – saving your money, your reputation, and your white hairs.