We are pleased to respond to the panel on tax, audit and accounting set up by the Parliamentary Commission on Banking Standards.
While we acknowledge many of the questions are focused solely on shareholder driven, plc banks, we also argue that the consequences of any resulting changes could also – unintentionally - affect mutual deposit takers. In most cases, this would be wholly inappropriate as mutuals have a different capital structure, are risk-averse and enjoy a distinct, co-operative culture.
Given the short response time, our comments are, of necessity, high level and brief. Click below to read our written evidence:
Written evidence to the PCBS panel on tax, audit and accounting
Questions posed by PCBS panel