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Auditing Counterparty Limits and Trading Limits

In: Implementing and Auditing the Internal Control System

Author

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  • Dimitris N. Chorafas

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.

Suggested Citation

  • Dimitris N. Chorafas, 2001. "Auditing Counterparty Limits and Trading Limits," Palgrave Macmillan Books, in: Implementing and Auditing the Internal Control System, chapter 10, pages 235-261, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-59786-0_10
    DOI: 10.1057/9780230597860_10
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