Broker Power is providing readers with some of the top stories for May 2-6, 2011 in case they were missed last week.
Registration is open for the American Association of Exporters and Importers’ (AAEI) 90th Annual Conference, which will be held on June 5-7, 2011 in New York. Among others, Secretary of Homeland Security Janet Napolitano, Bureau of Industry and Security Undersecretary Eric Hirschhorn, and U.S. Customs and Border Protection Commissioner Alan Bersin are expected to speak at the conference.
At the annual U.S. Customs and Border Protection Trade Symposium on April 13, 2011, CBP discussed plans to change the drawback program, develop a single U.S.-Canada export-import document, and gather trade input before it issues a rulemaking. The Commerce Department discussed its efforts to expand exports, and government and association panelists discussed ways the U.S., Canada, and Mexico are working to harmonize regulations.
U.S. Customs and Border Protection has posted an updated version of its informed compliance publication entitled Customs Valuation Encyclopedia (1980-2010).
U.S. Customs and Border Protection is requesting comments by June 6, 2011, on extending its existing Drawback Process Regulations (CBP Forms 7551, 7552, and 7553) information collection
U.S. Customs and Border Protection has issued its fiscal year 2010 Annual Financial Report, presenting financial information on its costs of operation and revenues to enable Congress and the public to assess CBP's performance in preventing the entry of dangerous people and goods in the U.S. and facilitating lawful trade and travel.
CBP has posted information on the Philadelphia Regulatory Audit Field Office, which consists of five branches with staffing resources located in Philadelphia, PA and Newark, NJ. The Philadelphia Field Office provides specialization in the areas of drawback, bonded warehouses and duty free shops. In addition, the Philadelphia Field Office maintains subject matter expertise in the area of "ability to pay" reviews.
Various U.S. government agencies are seeking comments on the following information collections for which they have requested or intend to request Office of Management and Budget approval or extension of approval (see notices for specific details):
The Department of Homeland Security's Office of Inspector General has issued a report containing an independent audit conducted by KPMG LLP that addresses the strengths and weaknesses of U.S. Customs and Border Protection's fiscal year 2010 internal controls over financial reporting. Among other things, the audit continues to find a number of weaknesses in CBP’s drawback program.
The Department of Homeland Security's Office of Inspector General has issued a report containing an independent audit conducted by KPMG LLP that addresses the strengths and weaknesses of U.S. Customs and Border Protection's fiscal year 2010 internal controls over financial reporting. The report finds that CBP has improved, in that only drawback is listed as a "material weakness" in terms of internal controls. Five areas are also identified as having internal controls with "significant deficiencies," including CBP's in-bond program, bonded warehouses, foreign trade zones (FTZ) and information technology.