Even the best compliance systems encounter problems. Rather than hiding your mistakes, the U.S. Government encourages companies to submit a voluntary self disclosure. This can be an important step to clear-up past issues and get your organization on the right track towards improved trade compliance.
Voluntary Disclosures can:
- Serve as a mitigating factor to reduce potential fines and penalties
- Show the government that your organization is serious about improving
- Put your company on a solid foundation of compliance going forward
- Do not inundate the government with separate disclosures every time you encounter a problem. Instead, conduct a thorough investigation of past violations and then coordinate comprehensive disclosure(s) to the appropriate agencies.
- Do not stall and delay. Time is of the essence.
- Do not ignore government requests for more information or clarity.
- Do not lie! Honesty is always the best policy.
We can help with your disclosure by:
- Conducting a thorough examination to identify all of your problems
- Identifying mitigating factors to help reduce penalties
- Working with you to develop and implement corrective actions
- Acting as a liaison with government officials to resolve and close-out your case
When handled correctly, a Voluntary Disclosure can help your company clear-up its compliance issues and create a "clean slate" to move forward. However, when handled poorly, a disclosure can lead to more problems, including potential fines, penalties and other remedial compliance measures. Let us work with you to ensure the best possible outcome.