How well does your company navigate through the continuously changing US export restrictions and regulations?
As part of its anti-terrorism campaign, the US has begun an increasingly aggressive enforcement of the requirements and restrictions around exports. In addition to civil and criminal penalties that can include prison and fines ranging into the millions of dollars, the government can prohibit the right to export on a temporary or permanent basis. While these direct penalties are considerable, the loss of reputation in today’s tough economic environment could be an even larger consequence. Audit and enforcement sensitivities are accentuated for those companies subject to the Sarbanes-Oxley reporting requirements.
Opportunity: Manage your company’s export control risk
PricewaterhouseCoopers has developed export control services to help your company navigate US export restrictions and regulations, as well as assist your company in developing internal review procedures to evaluate problem areas and the means to resolve those issues.
Export control services employs a 3-phase approach to help your company assess their exports. During the first phase, the export compliance needs of a company are determined by gathering information on the goods or technology exported. This includes information on "deemed export" as well as "dual use" exports. The data gathering can be facilitated by ExportFolio™, a PricewaterhouseCoopers proprietary analytical tool utilizing data obtained from the US Customs and Border Protection Services and the US Census Bureau. The data is then evaluated to determine the level of export compliance risk.
The second phase is designed to help clients develop a sustainable export management process. This may include assistance with classifying items to be exported, identifying licensing needs, and assisting in the preparation of an export management process manual and the associated training. During the third phase, we help to develop the automated portions of the export management system so as to limit the risk of an export control incident.
