While being a staunch defender of the European Central Bank’s independence whenever necessary, Tommaso never viewed the emergence of an effective economic decision-making structure at European level with trepidation, as a potential threat to the ECB’s independence.
Then I will look at the challenges this situation creates for banking supervisors and the need for regulatory action. Under auditing, I’m going to look at recent developments first, then specific enhancements to the quality of the auditing process that have resulted from these developments, and finally what could be done to improve the process even further. 4.