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Interim chair of UK’s FRC appointed

The UK’s secretary for business, Alok Sharma, has appointed Keith Skeoch as the interim chair of the Financial Reporting Council (FRC). He has been appointed, effective 12 October 2020, for a period up to six months.

Skeoch, who has previously served as a non-executive director at the FRC, will fulfil the responsibilities of the role while the recruitment process is carried out to find a permanent replacement for former chair Simon Dingemans, who stepped down in May this year.

He started his career in the UK Government Economic Service before moving into financial services where he became firstly chief economist and then managing director of International Equities.

Commenting on his appointment, Skeoch said: “I am delighted to re-join the FRC Board as Interim Chair. I am looking forward to working with Sir Jon Thompson, the Board and the whole of the FRC to continue to deliver all of the elements of the transformation agenda, as well as improving trust and confidence in corporate reporting, the quality of audit, and promoting high quality stewardship. The FRC’s remit and reach are ever more important given the challenging backdrop all of our stakeholders are operating in currently and I feel honoured to be leading the organisation during this time.”

FRC CEO Jon Thomspon said: “I am very pleased that Keith has been appointed by the Secretary of State as the Interim Chair of the FRC. Keith is well known to the Board given his previous tenure as a non-executive and I know he has contributed a great deal already to the FRC’s ambitious audit reform programme and will now lead the FRC as we transform into ARGA. I look forward to working with him and the rest of the Board as the FRC continues to deliver against its strategic objectives and work in the public interest towards maintaining trust in corporate reporting and meaningful audit reform.”

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