During the current year, the management of Hanover Incorporated entered into a futures contract to hedge the price of silver that will be needed for next year's production. The contract, which is held by Hanover's commodity broker, is marketable and exchanged on the CME Globex Exchange. Required: a. Describe the types of controls that should be established by a company that engages in derivative trading. b. List the substantive procedures that the auditors would use to audit this derivative