Contents:

List of panels List of contributors What is Risk? – A Discussion for Internal Auditors Robert P. Sullivan of PricewaterhouseCoopers What are Derivatives? – A Comparison of Instruments and their Risks for the Internal Audit Team Don M. Chance of Virginia Tech Auditing the Mark-to-Market and Risk Management of Derivatives Marcus Blackburn of the NatWest Group Auditing Quantitative Techniques and Model Risk in Derivatives Businesses Peter Stockwell, Peter Parapoulis, Marcos Protopapas and Atul Patel of Bankers Trust Credit Risk and Derivatives – Key Concepts and Approaches for the Internal Auditor Stephen Doherty of Credit Lyonnais Operational Risk Management and Measurement in Financial Institutions Robert Jameson of Risk Publications Regulatory Considerations of Derivatives and Risk Management – A Trans-Global Review for Internal Auditors Roger G. Coffin of PricewaterhouseCoopers Strategic Sourcing of Audit Functions – An Aid to Decision Making Richard Anderson of PricewaterhouseCoopers Corporations and Derivatives: A Case Study of The Boots Company plc Margaret Monckton of The Boots Company plc Glossary Bibliography