In response to Sir Christopher Kelly's report, current Co-op Bank chief executive Niall Booker apologised for "past failings" and said it had been "working diligently" to address them.
The bank also revealed it was appointing new auditors, Ernst & Young, ending a 40-year relationship with KPMG amid a regulatory investigation into the Co-op's past accounts in the years leading up to the end of 2012.
More top news
Rain for the northwest, dry and cold elsewhere
Rejecting a showdown with Ed Miliband, David Cameron's terms sent to broadcasters reveal his deep dissatisfaction with the debate proposals.
The owners of what some people claim to be the 'Welsh Holy Grail' are offering a cash reward for the ancient artefact's safe return.