In-Country Value (ICV) Audit

An In-Country Value (ICV) audit is a thorough examination of a company’s commitment to maximizing the socioeconomic benefits and contributions it makes within the host country where it operates. The audit assesses the extent to which the company is creating value locally by analyzing various factors such as the employment of local labor, utilization of local goods and services, technology transfer, and overall economic impact. The objective is to ensure that the company aligns its operations with the economic development goals of the host country, fostering local employment opportunities, knowledge transfer, and economic diversification. ICV audits often involve scrutinizing contracts, financial records, and operational practices to measure compliance with local content requirements and ascertain the company’s efforts to build a sustainable and mutually beneficial relationship with the host community and economy.