Auditing Counterparty Limits and Trading Limits

Dimitris N. Chorafas

Chapter 10 in Implementing and Auditing the Internal Control System, 2001, pp 235-261 from Palgrave Macmillan

Abstract: Abstract Chapter 9 has explained that limits to the line of credit of a counterparty, particularly in connection with loans, are nothing new. Indeed, they constitute one of the earlier and better examples of internal control. What is new is the cross-functional and transborder dimension of credit limits which should characterize their setting and their follow-up. Similarly market limits today have a dynamic structure, leading to the conclusion that both the limits themselves and the way in which they are set and they are observed must be audited.

Keywords: Interest Rate; Risk Premium; Credit Risk; Default Risk; Market Risk (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59786-0_10

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DOI: 10.1057/9780230597860_10

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