As a result of our prior year findings the firm revised and reissued its policy and mandatory guidance in relation to the signing and dating of audit reports and we observed an overall improvement in this area.
That said, today's banking White Paper from the Treasury, which translates Vickers into firmpolicy, contains all sorts of other measures to limit the exposure of taxpayers to our banks - such as ring-fencing retail operations, so-called resolution procedures for breaking up banks in a crisis, and forcing banks to hold more debt able to absorb the losses that are generated when things go horribly wrong.