Customs Audit

A customs audit is an official review conducted by government authorities to verify that a company complies with import and export regulations, including correct classification of goods, valuation, and duties paid. It ensures that businesses accurately report shipments, pay the appropriate tariffs, and follow legal requirements. The audit can involve reviewing documentation, transactions, and processes to prevent fraud or errors. Essentially, it helps maintain fair trade practices and generates revenue for the government, while encouraging companies to follow proper procedures and maintain transparency in their international trade activities.