Risk assessment and managementThe p

Risk assessment and management
The process of assessing risk also provides the benefit of an opportunity for global compliance team to assess the potential for issues affecting one country, region, geography, or process to affect another. No importer is perfect. Mistakes can happen. The process of analysing risk and ensuring controls are in place to decrease this, gives another opportunity to identify gaps at the earliest possible opportunity in supply chain.
Formal structure to period identify and analyse risk and processes which allows discussion of controls with the relevant process owners who execute them, and an overview with our extended network of approximately one hundred Import Requirements Executives (IREs) worldwide. IREs are placed within line organizations. They represent the ICO either at a country level or within one of the globally integrated support processes which contribute to compliance IRES
Collaboration with the IREs provides a mechanism by which we identify changes to business models, and consider information from their organisation’s forecasting or strategic planning activities that could potentially affect our ability to achieve our mission, goals, and objectives related to customs activities. This open channel of communication allows us to proactively manage risk and prevent noncompliance and disruption to our supply chain
Identify risk through consideration of findings from external and internal audits, evaluations, and other assessments not only in the import process but in complementary and related audits
Internal changes affecting operations, resource, operating processes, sourcing, move to higher value technologies, restructuring, rapid growth and expansion, and imports to new geographical areas all represent challenges to compliance and must assess risk and ensure appropriate controls are in place before the change to ensure continued compliance and prevent delays to our supply chain.