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Deutsche Bank agrees to special audit of risk management systems
[FRANKFURT] Deutsche Bank has agreed to a voluntary special audit of its risk management systems following a settlement with German shareholder lobby group DSW, the lender and the advocacy group said on Thursday.
The special audit will focus on whether Deutsche Bank's control functions can sufficiently detect legal risks that may lead to high provisions, DSW said in a statement on Thursday. "Now we will finally get clarity on how effective the controls of the bank really are," said DSW president Ulrich Hocker.
Deutsche Bank has paid billions of euros to draw a line under its past missteps including alleged rigging of interest rates.