Difference between revisions of "Financial Reporting Council"
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| − | The '''Financial Reporting Council''' (FRC) is the UK’s independent regulator responsible for | + | The '''Financial Reporting Council''' (FRC) is the UK’s independent regulator responsible and standard-setter responsible for corporate governance and financial reporting as well as the audit, accounting and actuarial professions. |
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| + | ==Background== | ||
| + | The FRC's functions are exercised principally by its operating bodies (the Accounting Standards Board, the Auditing Practices Board, the Board for Actuarial Standards, the Financial Reporting Review Panel, the Professional Oversight Board and the Accountancy and Actuarial Discipline Board) and by the FRC Board. The Committee on Corporate Governance assists the Board in its work on Corporate Governance. <ref name="FRC"> [http://www.frc.org.uk/press/pub2265.html FRC announces appointment of Peter Montagnon as Senior Investment Advisor], 21 April 2010, accessed 15 May 2012 </ref> | ||
==People== | ==People== | ||
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==Notes== | ==Notes== | ||
<references/> | <references/> | ||
| − | [[Category:Financial sector lobbying]] | + | [[Category:Financial sector lobbying]][[Category:Revolving Door]] |
Revision as of 15:38, 15 May 2012
The Financial Reporting Council (FRC) is the UK’s independent regulator responsible and standard-setter responsible for corporate governance and financial reporting as well as the audit, accounting and actuarial professions.
Contents
Background
The FRC's functions are exercised principally by its operating bodies (the Accounting Standards Board, the Auditing Practices Board, the Board for Actuarial Standards, the Financial Reporting Review Panel, the Professional Oversight Board and the Accountancy and Actuarial Discipline Board) and by the FRC Board. The Committee on Corporate Governance assists the Board in its work on Corporate Governance. [1]
People
FRC Council
The membership of the Council includes wide and balanced representation at the highest levels from the business, investor, professional and other communities interested in corporate reporting and governance.
Chair
- Baroness Hogg - Chair since May 2010. She is Senior Independent Director of BG Group plc, Lead Independent Director of HM Treasury, a Director of the John Lewis Partnership and Chairman of Frontier Economics, a Member of the Takeover Panel, Senior Advisor to the Financial Services Authority and a member of the Prime Minister's Business Ambassador Network. [2]
- Sir Christopher Hogg Past Chair
Deputy Chair
- Glen Moreno since November 2010, replaced Barbara Thomas Judge
Chief Executive
- Stephen Haddrill, since November 2009 when he left his role as Director General of the ABI. Replaced Paul Doyle.
Staff
- Peter Montagnon - Senior Investment Advisor. Joined in April 2010 from the Association of British Insurers, where he was Director of Investment Affairs. Prior to joining the ABI in 2000, Peter worked at the Financial Times, where his assignments included a spell as Head of Lex. He is a member of the European Corporate Governance Forum, a past Chairman of the International Corporate Governance Network and a visiting professor at the Cass Business School.[1]
- Jon Hooper - press
- Chris Hodge - Head of Corporate Governance
Council Members
- Charles Allen-Jones, Formerly Senior Partner, Linklaters
- John Alty * Director General, Fair Markets, Department of Trade and Industry
- Sir Victor Blank * Chairman, GUS plc and Chairman of Trinity Mirror plc
- Sir John Bourn KCB (ex officio) * Chair, Professional Oversight Board
- Tim Breedon, Group Chief Executive, Legal and General
- Sir David Clementi * Chairman, Prudential plc
- Sir Don Cruickshank * Chairman of Formscape Group Ltd and Clinovia Ltd. Non Executive Director of Qualcomm Inc.
- Paul Druckman * Chairman, Clear Group. Past Chairman of the Consultative Committee of Accountancy Bodies. Past President of the Institute of Chartered Accountants in England and Wales
- Richard Fleck (ex-officio) * Chair, Auditing Practices Board
- Mike Fogden CB (ex-officio) * Chair, Accountancy Investigation and Discipline Board
- Sir Christopher Gent * Chairman, GlaxoSmithKline plc
- Baroness Sarah Hogg * Chairman, 3i plc
- Douglas Kerr * Group Finance Director, CPL Industries Ltd
- Bill Knight (ex-officio) * Chair, Financial Reporting Review Panel
Ian Mackintosh (ex-officio) * Chair, Accounting Standards Board
- Sir George Mathewson CBE * Chairman, The Royal Bank of Scotland Group plc
- Colin Perry Chairman, LTE Scientific Ltd
- Ian Robertson Group Chief Executive, Wilson Bowden Plc and Past President of ICAS
- Hector Sants Managing Director, Deposit Takers & Markets Directorate, Financial Services Authority
- Paul Seymour (ex-officio) Chair, Board for Actuarial Standards
- Vincent Sheridan Chief Executive, VHI Healthcare
- Sir John Sunderland President of the CBI and Chairman, Cadbury Schweppes
- Ed Sweeney Joint Deputy General Secretary, Amicus
- Rosemary Thorne Finance Director, Ladbrokes
- Lindsay Tomlinson Managing Director and Vice-Chairman, Barclays Global Investors, Europe
- Graham Ward CBE Senior Partner, Global Energy and Utilities, PricewaterhouseCoopers
- Tony Watson Chief Executive, Hermes Pensions Management
Observers
Richard Dyson * Deputy Chairman, CCAB, Deputy President ICAEW Dr Clive Grace * CCAB, CIPFA representative Mary Keegan * Managing Director, Government Financial Management at HM Treasury
Secretary
Lobbyists
Internal
Notes
- ↑ 1.0 1.1 FRC announces appointment of Peter Montagnon as Senior Investment Advisor, 21 April 2010, accessed 15 May 2012
- ↑ FRC, Board, accessed 15 May 2012
