Make NAFTA work with FTZ program

Article Abstract:

The benefits being reaped by the economy through the US Foreign Trade Zones (FTZ) Program may be adversely affected if certain provisions in Article 9 of the proposed North American Free Trade Agreement (NAFTA) remained unchanged. Merchandise made or changed in condition and removed from US FTZs for export to Mexico or Canada from Jan 1, 2002 and onwards are made subject by NAFTA Articles 9:1 and 9:3 to US Customs duties as if withdrawn for domestic consumption. This rule imposes a second customs duty on non-qualifying merchandise, to be paid upon entry to Canada or Mexico. The threat of a double duty payment is expected to damage investments and employment.

United States, Laws, regulations and rules, International trade, Tariffs, Foreign trade zones

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Post audit practices

Article Abstract:

A survey covers the the post-audit procedures that are used to evaluate capital investment plans. The post-audit stage for the capital budget is crucial, since without the post-audit some managers are capable of improper behavior in the recommendation of investment projects. When post-audit are not performed or expected, some managers may proceed with the greatest reasonable cash flow estimate and the lowest cash allocation estimate.

Accounting and auditing, Accounting, Auditing, Surveys, Capital

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