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September 4, 2012

FRC appoints inaugural chairs to advisory bodies

Following the reform of the UK Financial Reporting Council (FRC) in July, the regulator has appointed Olivia Dickson, Nick Land and Roger Marshall as chairs of its three newly established advisory bodies.

Dickson will chair the Actuarial Council, Land will chair the Audit and Assurance Council and Marshall will chair the Accounting Council.

The Actuarial Council aims to promote high quality actuarial practice and the integrity, competence and transparency of the actuarial profession for the benefit of all those who rely on actuarial advice.

The FRC said the first appointees to the Actuarial Council are expected to play an active role in shaping the way in which the council operates and in particular developing how it engages with stakeholders, the FRC Executive and the FRC Board and its Committees.

The Audit and Assurance Council considers and advises the FRC Board and the Codes and Standards Committee on audit and assurance matters, while the Accounting Council provides strategic input and thought leadership, both in the field of accounting and financial reporting and in the work-plan of the FRC as a whole.

FRC chairman Baroness Sarah Hogg said in establishing the bodies the FRC “has made important appointments that will command respect for the quality, range and objectivity of their input”.

“Each Council will make a strong contribution to our input to Europe and international, as well as domestic policy-making. I look forward to working with each Council,” Hogg added.

The regulator also said all the members of each council have “deep expertise in their respective fields” and will provide it with both “technical knowledge and a wide understanding of the key issues it faces”.

 

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