Glossary

Trade Audit

Tags: Glossary

It is a review of the entire process to ensure the international trade adheres with the regulations.

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Al Sharqi Shipping is a leader in the logistics industry with more than 30 years of experience in guiding and moving freight across the globe.

What is Trade Audit?

Trade audit is an examination of a company’s trade transactions to ensure that they are accurate, compliant, and in accordance with company policy. It involves verifying the accuracy of financial and non-financial data associated with a company’s trade activities such as invoices, contracts, purchase orders, and shipment documents.  

 

The audit may also assess the efficiency of the trade process and identify areas of risk. The goal of a trade audit is to ensure that the company is following all applicable laws and regulations, while helping to minimize financial and operational losses. 

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