When auditing financial hedges,the auditor should understand the product,identify relevant risks and controls,and understand the appropriate accounting.

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Quizplus · Accepted Answer

This statement is true. When auditing financial hedges, it is important for the auditor to have a good understanding of the product, identify the relevant risks and controls, and understand the appropriate accounting treatment. This will ensure that the financial statements are fairly presented and in compliance with accounting standards.

When Auditing Financial Hedges,the Auditor Should Understand the Product,identify Relevant