Each entity was assessed for its relative risk to the business in six key areas:
1. Customs environment
We assess over 20 elements related to the customs environment to help us determine our risk in terms of transparency, predictability and security. We consider participation in organisations and agreements intended to introduce harmonisation and simplification and facilitate trade,
Political and economic changes can have a dramatic effect on the agencies that are involved in regulating goods which are imported so we consider the challenges.
We look at clarity of regulations, consistent interpretation, and changes presented by new legislation, and we also look at rulings and court decisions affecting our industry