Inherent Risk And Audit Procedures For CBA And JB Hi-fi
Inherent Risk
Justification
Assertion and Ledger Accounts Impacted
Audit Procedure
1)Handling derivative instruments and carrying derivative valuation adjustments of CBA involves inherent risk
As per annual report of FY 2017, CBIs trading income is registered to be $1149 million that is due to desirable derivative valuation adjustments. Complex transactions in the financial service segment with exposur…
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