Initial compliance assessment is the best method to determine the level of export compliance achieved at the company. Depending on the need, our experts conduct a scalable assessment which evaluates the export control mechanisms in the entire company, in a certain division or facility, or in the company’s subsidiary located abroad. The assessment process includes visiting the company at their location, interviews with the management and/or the staff as well as analysis of the existing program, exporting process and documentation. Assessment is finalized by providing the report on the compliance weaknesses of the company. Assessment report also includes a set of recommended steps to close the compliance gaps, and thus, mitigate the risks.
Compliance audits are considered as through review and analysis of export control procedures and the export operations of the company. Many times upper management may prefer to have a full audit to see the picture of the company export compliance. That way, potential weaknesses and the possibility of future violations are identified in detail and enforcement risks are minimized. Linqs’s approach to export compliance audits is multi-dimensional. We interview with the multiple team representatives in the client company, review the existing processes, analyze the samples of transactions, compare with similar industry best practices, categorize the risk factors and grade the audit findings based on their severities. Following the audit process, Linqs can also conduct periodical or random internal reviews in the company and prepare the audit findings status report.
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Compliance News & Updates
- Indonesian Company is fined for $1 million for violating U.S. Sanctions over North Korea
- OFAC Issues General License 2 and FAQ for Communist Chinese Military Companies
- Advisory on the Cyber Threat Posed by North Korea
- CMMC-AB Updates on Its Progress