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The Audit of Derivative Products (DERIV) This one-day course, designed for all auditors, will provide a working definition of "financial instruments." It identifies the typical derivatives (e.g. futures, forwards, options, swaps) and provides illustrations of derivatives and how they are specifically used by various organizations. The course will carefully explore how the auditor approaches the audit of derivatives. Emphasis is placed on authorization controls over the derivatives as well as documentation of derivative product activities. Particular attention is given to proper accounting (trading, fair value hedging, cash flow hedging) as well as required financial statement disclosures for financial instruments and related derivative products. Attendees will become familiar with the ever-increasing use of these products. Additionally, a sound audit approach for providing derivative product audit coverage to these products can be immediately implemented as a result of the course. All auditors whose companies are currently using or considering the use of derivatives should attend this valuable course.
Category: Banking - Auditing |
