There is a price to be paid if the quality of an auditor's work is not good enough. And we all know that that is sometimes the case. We have seen cases where the Disciplinary Board on Auditors (Revisornævnet) has im-  Page 6 of 8  posed fines on auditors for having acted contrary to good auditing practices.
This is a good opportunity for me to explain the policies of the European Central Bank (ECB) and to listen to your concerns and questions. I am looking forward to a fruitful exchange of views today.