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June 4, 2019

Wanted – Chair for new UK Accounting Standards Endorsement Board

The UK Department of Business, Energy and Industrial Strategy is seeking to appoint a Chair of the new United Kingdom Accounting Standards Endorsement Board (UKEB) for a three-year fixed term, with the possibility of re-appointment, subject to Ministerial approval.

The new UKEB will serve the UK public interest by contributing to: the research and development of high-quality international financial reporting standards; their endorsement and adoption for use in the UK; and international debate on developments in financial reporting by entities. It will do this by:

  • Providing thought-leadership to research, contribute to and influence the development of financial reporting internationally.
  • Following the process for the endorsement and adoption of IFRS specified in legislation.
  • Adopting, following and representing the guiding principles of transparency, accountability and independence in all its activities.

The UKEB will be accountable to the Secretary of State on technical matters; and to the FRC Board on its Governance and due process procedures. Reports on both will be made to Parliament annually.

The Chair will have full operational responsibility for determining and implementing the UKEB’s strategy and work agenda, including responsibility for the management of the Secretariat.

The Chair of the UKEB will be responsible for the establishment of the UKEB, and maintain the independence of the UKEB from within the FRC and from external stakeholders. Among other role requirements, they will act as the lead contact for the relationship with the FRC, BEIS and the Secretary of State, and wider stakeholder relationships.

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