For example: •  like in the US, to address some obvious conflict of interest, the large auditing firms have ceased to do a variety of non-audit work for their clients;  •  large firms are paying closer attention to corporate governance;  •  they are establishing independent audit committees;  •  boards are having a closer look at company loans to executives; and  •  internal audit departments are being given more recognition and more resources.
As the ECB article stresses, such an attempt would be extremely dangerous given the risk that a concerted effort at stamping out a speculative boom would lead to outsized interest rate hikes and recession. Rather, the extra-action strategy is intended only to provide some limited insurance against the possibility of highly adverse events occurring down the road.