Learn how to prepare for an audit and complete the audit as efficiently and successfully as possible.
U.S. Customs and Border Protection (CBP) import regulations on the classification, valuation, rules of origin, and special trade programs, among others, can be confusing, technical, and expansive. From small businesses to large corporations, anyone who imports can be subject to these regulations. CBP regularly audits importers to ensure compliance and avoid government revenue loss through unpaid duties. Without adequate preparation, a company selected for a Customs audit risks being caught off-guard by the resource-intensive demands of the audit and consequences of non-compliance. This presentation will explain the Customs audit process from start to finish, including importer responsibilities and areas of evaluation. The program will additionally cover the laws and regulations behind CBP's audit authority and an overview of the types of Customs audits and assessments. Also discussed are the best practices for how to prepare for an audit, and providing tips and recommendations to complete the audit as efficiently and successfully as possible.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Background
- Statutes
- Regulations
- CBP Enforcement
Customs Audits Overview
- Audits Generally, Notice, and Process
- What Makes You an Audit Candidate and Areas Evaluated During Audits
- Types of Customs Audits and Assessments
How to Get Ahead of an Audit
- Importer Responsibilities
- Reasonable Care"
- Recordkeeping
How to Prepare for an Audit Once You'Ve Been Notified
- Tips and Recommendations
- Common Internal Control and Compliance Errors
- Prior Disclosures
What to Expect During and After an Audit
- Cooperate With CBP/RAAAS
- Statistical Sampling
- What Comes After
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on October 11, 2022.
Call 1-866-352-9540 for further credit information.
- CPIM/CFPIM/CSCP 1.0
- This program may qualify for 1.0 certification maintenance points toward the CSCP, CPIM and CLTD designations through The Association for Operations Management.
- ISM 1.0
- Participants who successfully complete this program will receive 1.0 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Derrick Kyle
Torres Trade Law, PLLC
- Senior Associate, Torres Trade Law
- Assists clients with all facets of global trade, including customs, export controls, and sanctions laws. Also has experience classifying products within the Harmonized Tariff Schedule, obtaining tariff exclusions from the U.S. Trade Representative, completing prior disclosures with U.S. Customs and Border Protection (CBP), submitting protests and petitions to CBP, and obtaining favorable results for clients. He also assists clients to understand the application of CBP partner government agency regulations
- Regular speaker and presenter on various import, export, and sanctions topics
- Author of U.S. Trade Compliance Due Diligence, Mergers & Acquisitions Review, 15th Edition, The Law Reviews (with Olga Torres) (2021), and A Crude Awakening U.S. Sanctions on the Russian Oil Sector, State Bar of Texas International Law Section, International Newsletter (2018) (with Olga Torres and Andrea Fraser-Reid)
- Bar Admissions at the State of Texas and the United States Court of International Trade
- Southern Methodist University Dedman School of Law (J.D., cum laude), and Texas A&M University (B.A., cum laude)
- Contact information: Email: [email protected]; Phone: 214-295-8473
Anthony Saranchak
Torres Trade Law, PLLC
- Senior Customs Advisor, Torres Trade Advisory
- Has had positions at US CBP, Assistant Field Director, Regulatory Audit; KPMG, Manager International Trade & Customs; Jones Apparel Group, Manager Customs Internal Audit; Treasury Inspector General for Tax Administration (IRS) Auditor, and as International Trade Consultant since 2015.
- Accounting and auditing background provide key knowledge and experience for trade areas of Valuation to include Basis of Appraisement, Related Party Transactions and Additions to the merchandise value; Free Trade Agreements; Special Duty Preference Programs; Recordkeeping; Drawback; Preparing, and assisting importers with CBP Audits and Prior Disclosures
- Speaking engagements include national conferences at the Institute of Internal Auditors, the Association of Certified Fraud Examiners, and Instructor at Federal Law Enforcement Training Center.
- Author of Torres Trade Advisory Newsletters articles: “Customs Valuations, Statutory Additions and More!” May 2022; “Recent Court Order Reminds Importers to Carefully Review First Sale for Export Claims for Nonmarket Influences” September 2021; and “Customs Valuation: Are you Inadvertently Undervaluing Imported Merchandise?” May 2021
- Certified Public Accountant and Certified Fraud Examiner
- University of Scranton, BS Accounting; Villanova University, Master Certificate in Applied Project Management
- Contact information: Email: [email protected]; Phone: 214-295-8473
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Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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