The Treasury Committee has slammed the FOS's internal review plans, suggesting the institution was ticking boxes rather than conducting a thorough review into the outcomes of cases.
A letter to Committee chair Nicky Morgan (pictured) from Financial Ombudsman Service (FOS) chief executive Caroline Wayman set out the institution's plans to conduct an internal review after the controversial ‘Dispatches' programme exposed apparent misdoings earlier this year. Wayman said the review would comprise two stages, the first of which would entail a sample review exercise to check against the "relevant controls and standards", which would be carried out by internal auditor Deloitte. The second stage, she added, would comprise a further review of any case found not to have...
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