Audits
An audit is a process of reviewing a company’s trade operations to ensure compliance with customs regulations, trade laws, and other relevant requirements. The purpose of an audit is to identify any potential areas of risk or non-compliance, and to provide recommendations for improving trade operations and reducing the risk of penalties or other legal consequences.
Trade audits may be conducted by D. Liebenberg Consulting. The specific scope and focus of an audit may vary depending on the organization conducting the audit and the needs of the company being audited.
Typically, an audit will involve a review of a company’s trade documentation, such as import and export declarations, invoices, and bills of lading, to ensure that all information is accurate and complete. D. Liebenberg Consulting may also review the company’s trade processes, such as record-keeping, classification of goods, and compliance with licensing requirements.
The findings of an audit may result in recommendations for corrective actions to address any identified issues, as well as suggestions for improvements to trade processes and procedures. Companies that are found to be in non-compliance with trade regulations may face penalties, fines, or other legal consequences, depending on the severity of the violation.
Overall, audits are an important tool for ensuring compliance and reducing risk in international trade, and companies should take steps to ensure that their trade operations are regularly audited to identify potential areas of improvement and reduce the risk of non-compliance.
TERMINOLOGY
- Process: The series of steps or procedures involved in moving goods from one place to another, including activities such as transportation, customs clearance, and storage.
- Documentation: The paperwork involved in international trade, including bills of lading, invoices, import and export declarations, and other documents required for customs clearance and compliance.
- Tariff: A tax or duty that is imposed on goods that are imported or exported, typically based on the value or volume of the goods.
- Value: The monetary worth of a good or service, typically used in calculating customs duties and taxes.
- Origin: The country or region where a good is produced or manufactured, which can affect customs duties and taxes, as well as compliance with trade agreements and regulations.
- Bond: A financial guarantee that is required by customs authorities to ensure payment of duties and taxes on imported goods. Companies may obtain a bond from a surety company or provide their own financial guarantee.
- Rebate stores: Refers to special storage facilities that are authorized by customs authorities for holding imported goods that are eligible for duty rebates or refunds. These facilities are often used by companies engaged in manufacturing or other value-added activities that involve imported goods
OTHER SERVICES
- Customs and Trade Compliance Consultancy
- Authorised Economic Operator (AEO)
- Training
- Refunds and Drawbacks
- Audits: Process, Documentation, Tariff, Value, Origin, Bond and Rebate stores
- Customs Appeals: Internal Administrative Appeals (DA 51), Alternative Dispute Resolutions (DA 52), Section 96 Appeals
Get in touch
+27 73 674 2332
david@dliebenberg.co.za
Edenglen, Johannesburg, South Africa
D. Liebenberg Consulting is based in Johannesburg, however, provides all the services countrywide.