An A to Z Guide to Surviving a Customs Audit: The Most Significant Missteps to Avoid Now Before It’s Too Late

April 1, 2015 4:00pm

Sheana Chen
Senior Counsel
Texas Instruments

Deming Zhao
Senior Partner
HaoLiWen Partners

With Customs policies and enforcement evolving rapidly in China, importers must proactively prepare for the challenges of traditional customs audits as well as prepare and implement a new self-audit process. An effective self-management strategy, efficient compliance measures and documentation will enable importers to successfully go through a customs audit and avoid hefty fines.

Led by experienced industry leaders, this comprehensive workshop will provide you with a complete guide to the new China Customs audit process and criteria. Learn how to respond to auditor requests, and take away valuable tools that will help you withstand the rigorous audit process. Benefit from case studies and make sense of methodologies that China customs auditors use during the audit process. This practical and interactive workshop will cover the following topics:

  • Practical review of new audit regulation
  • What should be done before the customs designated self-audit
  • Which industries and shipments are potential audit target and why
  • Does the customs auditor have the power to revaluate import shipments
  • Which company might be qualified to self-audit, on which criteria
  • Understanding how China Customs uses internal risk management systems to identify audit targets
  • What China Customs expects your written policies and procedures to include, and how they are used in audit process
  • How to prepare company officials for interviews with Customs auditors
  • How to determine the scope of resources to devote to the self-audit process
  • How to assist in the third party audit
  • What to do when auditors find an error: quick response, corrective action and internal control
  • How are customs audits linked to potential ASB (Anti-Smuggling Bureau) investigations
  • How to tackle customs audit report
  • What lessons can be learnt from recent customs audits, including non-trade payment, transfer pricing valuation, classification, handbook balance
  • Are there any pre-taken measures to avoid any individual or corporate intent of smuggling in audit cases
  • How can outside counsel and advisors best protect the company in audit cases