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Audit of Import and export
Can anyone please explain in details, what are the things to be checked/ verified as an auditor while doing audit of Imports and Exports including High seas purchases and sales and duty drawbacks, the company is engaged in trading of pharmaceutical products.
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An export compliance audit is an integral part of a comprehensive export compliance program. It is an efficient way to ensure that a company's internal export controls are sufficient and correct. Our audit will identify limitations and vulnerabilities that exist within your current system.
Ensure that the Advance licences are fully utilized. Ensure that the imports purchases have been made within the LC Validity period. Check whether any LC extension / revalidation charges have been paid. Check whether customs duty has been paid for imports of material inspite of Advance licences being available.
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