The Institute of Chartered Accountants in England and Wales (ICAEW) regulatory board has appointed Philip Nicol-Gent as its new chair.

The ICAEW Regulatory Board (IRB) is an independent board responsible for oversight of the regulatory and disciplinary work undertaken by ICAEW’s Professional Standards Department, to ensure it is carried out in the public interest.

Nicol-Gent will begin his role with immediate effect following the resignation of Jenny Watson CBE, who has stepped down for unforeseen personal reasons after just two months in post.

The appointment of Nicol-Gent was approved by the Regulatory and Conduct Appointments Committee.

Commenting on his appointment, Nicol-Gent said: “I am looking forward to my time as Chair of the IRB. The public interest has been at the heart of the Board’s deliberations. As changes across the accountancy sector unfold over the coming months, we will make sure the IRB plays a central role and ensures that the public interest is reflected in that work.”

Outgoing chair of the IRB Jenny Watson said: “I’m sorry to have had to stand aside from this role but delighted to hear that the Regulatory and Conduct Appointments Committee has asked Philip to succeed me. I know he will do an excellent job and I send him and the IRB my good wishes for the future.”