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CAD 317- POST CLEARANCE AUDIT > identification > Flashcards

identification Flashcards

1
Q

importer or exporter or the one who is engage in transit or like.

A

trader

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2
Q

the one with the relationship with customs excluding forwarders etc

A

trader

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3
Q

who merely convey international cargoes and customs brokers who merely submit declarations on behalf of trader

A

forwarder etc

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4
Q

an entity selected for an audit, not limited to importers as it can include exporters and transportation companies, customs broker etc.

A

auditee

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5
Q

collective term for commercial or industrial enterprise

A

business sector or community

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6
Q

usually referred to as “custom’s counterpart”

A

business sector or community

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7
Q

group of productive or profit making enterprise

A

industy

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8
Q

it is called commercial enterprise regardless of any rs with customs

A

company

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9
Q

one who is involved in or affected by a course of action

A

stakeholder

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10
Q

a business pattern with particular commercial

A

whole biz transaction/ transaction/ transaction pattern

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11
Q

physical distribution of an import or export cargo including payment distribution

A

whole biz transaction/ transaction/ transaction pattern

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12
Q

statements of an administrations overall intention and direction regarding PCS

A

PCA Policy

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13
Q

scheme or strategy for audits specifying the objective/ scope/ methodologies and assignment of auditor or team members for audit

A

audit plan

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14
Q

audit conducted at auditors premises usually by calling information through correspondence or telephone

A

desk audit

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15
Q

an audit conducted at premises of auditee

A

on-site audit

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16
Q

what are the objectives of PCA?

A

to verify that the value, origin and classification of goods is declared directly and amount of revenue legally due has been identified and collected

to ensures goods liable to specific import /export are properly declared (probihitions, restrictions, licenses and qouta)

to ensures condition relating to specific approvals and authorizations are being observed (pre-authenticated transit documents, preferential orgin/movements certificate, lisenses, qouta arrangement, customs and excise warehouses and other simplified procedure arrangement)

to facilitate international trade movements of compliant traders

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17
Q

it measures and improve compliance of trader

A

PCA

18
Q

general annex in chapter 6 titled customs control, ______manage the worldwide increasing in trade and to provide traders with greater facilitation customs increasingly rely on “audit based control” using traders commercial system.
customs control system shall include_____

A

revised kyoto convention
audit based control

19
Q

means measured by which the customs satisfy thenselves as to ACCURACY and AUTHENTICITY of declaration through examination of relevant books, records, biz system and commercial data held by person ls concerned

A

audit- based control

20
Q

it is the mechanism ti verify and review

A

internal audit

21
Q

conducted by company to review own internal procedures or by customs to review own internal rules and procedure

A

internal audit

22
Q

what is the agreement of trade facilitation?

A
23
Q

agreement on trade facilitation

A
  • with a view to expiditing the release of goods, each member shall adopt or maintain post clearance audit to ensure compliance with customs and other related laws and regulations
  • each member shall select a person or a consignment for psor clearance audit in a risk based manner, which may include appropriate selectivity criteria.

each member shall conduct post clearance audits in a transparent manner.

where person is involved in the audit process and conclusive results have been achieved the member shall without delay, notify the person whose record is audited of the results, the persons right and obligations and reasons for the results.

  • the information obtained in post clearance audit may be used in further administrative or judicial proceedings
  • members shall, wherever practicable, use the result of post clearance audit in applying risk mangement
24
Q

benifits derived from PCA

A
  • compliant trade is facilitated at the point of customs clearance and border controls can be reduced
  • enables customs to gain better information on and understanding of traders biz
  • risk kevels can be more easily asessed and reviewed: a premises visit provides the opportunity to identify risks and weaknesses in traders system
  • facilitates client education, long term and comprehensive compliance mangement focus
  • customs administrations resources are more effectively deployed
  • customs can promote the concept of voluntary compliance and self assessment

-suspected fraudulent activities including cases illicit financial flow (IFL) , trade base money laundering (TBML) may be identified and refered to competent authorities and / or enforcement unit for appropriate action

  • provides a platform for evaluating continued entitlement to authorized economic operator status, where applicable
25
Q

types of AUDIT

A

comorehesive audit or systems based audit
focused audit or issue based audit
post importation transaction based audit

26
Q

types of audit that looks at entire business conteol environment and impact this might have on customs compliance

A

comprehensive audit

27
Q

this type of audit are analytical procedure that used heavily and substantivr testing is reduced where control environment and corporate governance systems are goods

A

comprehensive audit

28
Q

this kinds if audit takes place at the presmises of audtitee (field audit)

A

comprehensive audit

pls note field audit

29
Q

a complete picture of biz can be captured by ___ including examination of its biz systems, trading methods, partners/directors and internak control

A

FIELD AUDIT

30
Q

this type of audit concentrates on one or few areas of customs like valuation, country of origin

A

focused audit

31
Q

this type of audit est on related systems and controls and substantivr tests may akso be carried out

A

focused audit

32
Q

this audit can introduce checks in ind transactions

A

post importation based audit

33
Q

this type of audit can work in 2 ways the refferal and targetting

A

post importation based audit

34
Q

2 work ways in post importation based audit

A
  1. referrals from the port/border post when an officer has doubts concerning particular declaration at the time of clearance
  • if it deemed that significant duty may be at stake, an inquiry is then referred to appropriate customs office to further examine declrtion, normally in consultation with importer/exporter
  1. a targetting team ‘scrutinizes’ ind customs declarations after clearance and selects thise where doubts arise regarding their accuracy
  • normally in cinsultation withh importer and exporter and action is taken as appropriate
35
Q

PCA laws and regulations

A

-definition of PCA coverage (person or company subject to pca)
-authority and powers of customs officials/auditors conducting pca
-obligations and rights of auditees
-penalty scheme
-right to appeal

36
Q

PCA SCOPE AND COVERAGE in biz inport /export of goods may be audited including the ff

A
  • importers/exporters
  • declarants
  • consignee of importedgoods
  • owners or benificial owner of imported goods
  • subsequent acquirers of imported goods
  • customs clearing agents of im/ex goods
  • storage agent of in/ex goods
  • transporters of im/ex goods
  • other person or company directly and indirectly involved in transaction of imported or export goods
37
Q

authority powers and ovligations of customs officer

A

rights to…

  • access auditees premises
  • examine biz records, biz/trading systems and commercial data relevant to customs decla
  • inspect auditees premises
  • uplift and retain docs and biz records
  • inspect and take samples of goods
38
Q

obligations and rights of auditees

A

a requiremnt to…

  • maintain specified documentation , information and records
    ——-duration for retaining such records should be NO LESS THAN THE MAXIMUM PERIOD AFTER IM OR EXPORTSTION when customs legally demand underpaid duty and make refund for overpaid duty
  • to make such doc, info and records available in a timely manner

a right to…

-appeal
- an explanation from customs concerning determination of customs value
- expect confidential treatment of biz docs
- clearance of goods at the frontier wth provision of security
- to amend declarations w/o penalty in appropriate circumtances

39
Q

types if organizational structure

A

centralized and decentralized audits

40
Q

these are advantage of ___

-enhance communication, coordination and sharign knowledge
- better supervision and management control
- more effective riskmangemnt (feedbcks sent to risk mgment unit in more coordisnted manner)

A

centralized audit

41
Q

read page 13-14 advantage and disadvantage

A

CAD 317- POST CLEARANCE AUDIT (2 decks)

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