CBAM audit
CBAM Audit – Verification of CBAM obligations and reports
Do you import high-emission goods from outside the EU and EFTA countries, such as cement, iron, steel, aluminum, energy, artificial fertilizers or hydrogen? You don't know whether you are covered by the provisions of the Regulation OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL (EU) 2023/956 of 10 May 2023 establishing a mechanism for the adjustment of border prices taking into account CO2 emissions (OJ L 130, 16.05.2023/53/XNUMX, p. XNUMX,)that introduce the obligation of CBAM reports? Our company will verify your business in terms of compliance with CBAM.
Specialists in customs, trade compliance, supply chains and reporting will verify your company's CBAM status. As part of the audit, we will check whether the imported goods qualify for reporting. We can also check whether the reports you have already submitted are correct and make any necessary corrections.
The CBAM audit will also allow you to verify all processes in your company that are related to the carbon border tax. We will check whether the data held by your organization can be used to prepare a CBAM report and estimate the future costs of a border carbon tax. We will also verify the terms of orders with suppliers in terms of the comprehensiveness and efficiency of transferred CBAM-related data.
CBAM audit – what services does it cover?
The purpose of a CBAM audit is to verify your organization's ability to properly collect data and prepare mandatory CBAM reports. As part of this service, we can check already submitted CBAM reports and indicate whether you are properly prepared to submit subsequent reports correctly. For this purpose, we can verify contracts and order templates with your suppliers so that in the future they will provide the data needed to properly prepare CBAM reports. We can also analyze customs, trade and logistics documentation to ensure that the data for the CBAM report is complete.
What do we check as part of the CBAM audit?
- do you have complete data in the appropriate format necessary to complete the CBAM report,
- Have you submitted complete reports?
- did you submit your reports on time,
- have you submitted reports to the appropriate authority,
- do you have the appropriate infrastructure to submit reports,
- in what form you submit reports,
- are your suppliers manufacturers,
- whether the manufacturers of your products are subject to CBAM,
- do producers have the data necessary to submit a report,
- whether you act in accordance with procedures.
You are not sure whether the CBAM report you have already submitted is complete and correctly prepared?
Contact us - we'll check it out!
Why is it worth performing a CBAM audit?
CBAM reporting is mandatory for entities that import certain high-emission goods into the European Union. Failure to fulfill this obligation carries the risk of financial penalties ranging from EUR 10 to EUR 50 per tonne of unreported emissions. Moreover, these penalties may also be imposed on importers in the event of irregularities found in submitted CBAM reports.
The financial penalties do not seem too high, but what becomes more problematic is the increased risk of customs inspections on your imports. It is worth emphasizing that this risk also applies to incorrectly submitted reports, which most often happens when completing the document manually.
What errors do we find during CBAM audits?
Reporting related to the carbon border tax is a relatively new obligation and often causes a number of problems for our clients. During audits, we most often point out the lack of correct customs classification of goods in terms of CBAM and the lack of documentation confirming the origin of the goods. It sometimes happens that the importer does not know about the actual manufacturer and place of production of the goods. Missing contact details of the supplier and manufacturer or the exact factory address are also common. Another problem is insufficient information on emission levels, lack of goods composition, lack of goods quality certificates and lack of authorization for a customs agency.
If you have any doubts about the correctness of the submitted CBAM reports, want to improve the report preparation processes or do not know what data to ask suppliers and manufacturers for, contact us! We will help you streamline all processes related to CBAM reporting.
