ID Theft Red Flags Compliance Will Impact Examinations for Years to Come. Some think this will have a minor impact based upon the assumption that much of what’s needed is already in place and simply needs to be coordinated better. Others think it will require some effort upfront, including strengthening related control activities and creation of appropriate documentation (a.k.a. policies and procedures) Personally, I think this is going to have a dramatic impact on the institutions we work with; only it will take time for events to unfold.”]