Look at the attached paper and make correction.
ACC Auditing
Bloomberg online- Business Section: Deutsche Bank mismarked 37 deals said the auditors. Articles dated October 6, 2016.
The 37 deals mismarked by Deutsche Bank were involved in several complex transactions, one of the accounting deals involved the oldest bank in the world.
Deutsche Bank was indicted for colluding with another bank name Banca Monte Dei Paschi Di Siena SpA to conceal lenders' losses by mismarked dozens of transactions of their own books. These transactions were discovered during an audit by the regulators.
Questions:
•How long have they been doing these complex transactions?
•How many unknown have they done? What hidden in the balance sheet?
•How many complex deals they did that the shareholders don't know about?
•If I were the auditors, these would be my questions how many of these loans have you closed? Who authorized them?
•What would be the effect on the balance sheet and the financial statement?
•How effective is the bank's control activities?
•How big will be the risks with these complex transactions?
•What could be done to improve the Design & Implementation of the bank?
The control environment tone of the top was ineffective in Deutsche Bank's case.
Attachment:- Auditing- Bloomberg online- Business Section.rar