As customs authorities continue to evolve their audit approaches, the focus is no longer limited to import declarations and customs entries. HMRC and EU auditors are increasingly examining General Ledger accounts, bank records, transfer pricing arrangements, and intercompany agreements to assess whether customs values have been declared correctly.
For many organisations, this represents a significant shift in customs compliance expectations and highlights the growing need for Finance and Trade teams to work together.
This practical, practitioner-led webinar with ITM Specialist Douglas Mackay will explore how financial records can create customs valuation risks, where businesses commonly encounter issues, and what steps can be taken to strengthen controls before an audit takes place.
What You’ll Learn
During this session, we will cover:
- Why the General Ledger has become a central focus of customs valuation audits
- The five accounting errors most commonly linked to duty reassessments
- How to conduct an Import-to-Accounts Reconciliation
- Techniques for identifying discrepancies between customs declarations and financial records
- How to control the audit narrative through effective documentation and monitoring
- Building a PDCA (Plan-Do-Check-Act) monitoring framework that Finance and Trade teams can jointly own
Why This Matters
Customs authorities are increasingly connecting accounting records with import activity to validate declared customs values. Businesses that fail to identify discrepancies between their financial and customs data may face unexpected duty assessments, penalties, and prolonged audit activity.
By understanding how customs auditors review financial information, organisations can improve compliance, reduce risk, and demonstrate stronger governance.
Who Should Attend?
This webinar is particularly relevant for:
- Finance Directors
- Financial Controllers
- Finance Managers
- Customs and Trade Compliance Professionals
- Import and Export Managers
- Internal Auditors
- Tax and Indirect Tax Specialists
- Supply Chain Professionals
- Business Leaders responsible for international trade operations
Secure Your Place
Whether you work in Finance, Trade Compliance, Customs, Tax, or Supply Chain, this session will provide valuable insight into the growing relationship between financial reporting and customs compliance.
Register HERE to gain practical guidance on identifying customs valuation risks and building stronger internal controls.