The Financial Services Authority is conducting an internal report into the lessons that should be learned following its former assessments of Northern Rock.
The FSA admitted mistakes were made on its behalf, among them were that full reviews only took place once every three years with chief executive of the FSA, Hector Sants, saying this is way too long.
Sants commissioned Rosemary Hilary, the director of internal audit to conduct the review between the the dates of January 2005 and August 2007.
Bob Bennett the former finance director at Northern Rock has said that the management was partially to blame for its fate.
Hilary will present the report to the FSA board on Thursday with comparisons from other 'high-impact firms'.
The FSA is to regulate the Newcastle based lender even though it has now been nationalised.
Further Reading
Northern Rock failure cast its shadow over entire audit system
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