Good Practice

Possible compliance issues in keeping records abroad

There are a variety of reasons why companies may be tempted to run their recordkeeping operations offshore. For example, with myriad national and international governing bodies overseeing global trade, some US companies may consider consolidating all compliance functions into a central location with responsibility for ensuring compliance with the international trade laws of each jurisdiction. This can provide certain logistical advantages, allowing compliance personnel from the importing jurisdi...

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