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Jul 17, 2017
From the KPMG TaxWatch
Universities are often on the cutting-edge of research and technological developments and may have close relationships with the private sector, the U.S. government and foreign governments. Further, academic institutions may have strong international presences. These factors contribute to and enhance a university’s reputation, but they also create risks of non-compliance with U.S. export control regulations including the International Traffic in Arms Regulations, Export Administration Regulations, and the Office of Foreign Assets Control.
These regulations restrict the export of tangible and intangible products and knowledge to foreign nationals both domestically and abroad. Although there are exceptions to these regulations, university staff and faculty may not fully understand their limitations. KPMG can help universities manage these risks by performing export compliance assessments during which export control programs are evaluated, gaps are identified and opportunities for enhancing procedures are suggested.
This article outlines the factors and considerations for building an export compliance program.