The City watchdog has contracted the expertise of three large accounting firms to review the disclosures made by the Royal Bank of Scotland and HBOS before the banks 2008 capital raisings. Ernst & Young is to look at the accuracy and completeness of financial disclosures made by HBOS in connection with its capital raisings in 2008. The Financial Services Authority has also asked PricewaterhouseCoopers to look at RBS, while BDO will examine Bradford & Bingley, the FT reported. The reports that emerge from the reviews, which began last April, are unlikely to be made public, sources familiar with the matter said.