It's the lash, the lasso or a blinding surprise as a panel of APRA scrutineers confer with the banking regulator on guidance and sanctions for Commonwealth Bank of Australia.A curb or even suspension on payment of dividends by the bank looks a red hot risk, this outcome being an extreme option unavoidably under debate. CBA paid a full year dividend of A$4.21 last year and the same is widely (if unwisely) forecast for this year.A panel headed by former APRA chief John Laker are in the final throes of composing their final report following six months of intrusive scrutiny of CBA. This report is due by the end of April, or in four weeks' time.Announced in the wake of last year's bombshell allegations from financial intelligence agency AUSTRAC and APRA, a fed-up government decided in August last year to undertake this unprecedented "prudential inquiry" into Commonwealth Bank. Jillian Broadbent, a former BT executive and Graeme Samuel, a former head of the ACCC are the two remaining members of the Laker panel. APRA said at the outset that it intended to make the panel's reports public, and did so with the progress report, released at the beginning of February. Late last week, APRA chief Wayne Byres told a parliamentary hearing "we know everyone will want to see it [the final Laker report], so we intend to release it as quickly as we can".This plants the Laker report's release around the opening session of the banking industry's half year reporting season. ANZ leads off this ritual on Tuesday, May 1.APRA summed up the remit of the Laker panel as: "To identify any shortcomings in the governance, culture and accountability frameworks and practices within CBA, and make recommendations as to how they are promptly and adequately addressed. It would include, at a minimum, considering whether the group's organisational structure, governance, financial objectives, remuneration and accountability frameworks are conflicting with sound risk management and compliance outcomes."Public knowledge of deficiencies at Commonwealth Bank have worsened in recent times, thanks to the work of Hayne royal commission. Revelations at the Hayne commission last month can only heighten anxiety over the lurid detail and the breadth of the questions over the quality of risk (mis)management by Commonwealth Bank that will find its way into the Laker reportThe case study on CBA's subsidiary Aussie Home Loans at the royal commission is the taster of what has to be assumed to be an entrenched, bank-wide problem."On the evidence, it is open to the commissioner to find that the misconduct [by Aussie and CBA] arose not merely because of rogue conduct by individual brokers but because the systems, processes and culture at Aussie Home Loans permitted such misconduct to occur," Rowena Orr, counsel assisting told Kenneth Hayne, the commissioner, late last month.Risk matters at Aussie were identified and reported to the board, with lame follow up.Orr told Hayne that "Aussie Home Loans' risk management systems did not adequately prevent, detect or respond to the fraud; they did not create clear accountabilities