Accounting regulator to hire 80 staff as it adopts new powers
The accounting regulator has kicked off a new recruitment drive as it expands its roles and responsibilities to improve trust and transparency in business.
The Financial Reporting Council (FRC) is looking to fill 80 new openings being created in the 2019-20 financial year, as it transforms into a new regulator with strengthened powers and responsibilities.
The FRC will be known as the Audit, Reporting and Governance, Authority (ARGA) and will exercise greater supervisory powers.
“As the FRC expands in both our remit and size, we are looking for candidates from a range of backgrounds to play a key role in shaping the future of the FRC and in promoting the UK as a great place to do business,” said Jenny Waterman, head of HR at the FRC.
“The FRC is committed to championing equality and diversity across all areas of our work and promotes flexible working to recruit and retain high quality people.”
Earlier this year, the FRC set a budget of £37.8 million for 2019-20 and announced it will focus on hiring additional staff to pursue a change in audit quality and strengthen enforcement.
“The FRC’s plan sets out a clear pathway towards the establishment of an enhanced authority, with stronger powers and greater resources, as quickly and effectively as possible,” said Stephen Haddrill, CEO of the FRC, at the time.
“Ahead of full implementation of the Kingman proposals, the FRC will do all in its power to promote transparency and integrity in business, and improve audit quality, corporate governance and investor stewardship.”
FRC’s overhaul follows wide-ranging and highly critical Kingman review, which made a number of recommendations into the future of the council.
The overhaul will see the FRC transition into a new authority, ARGA, which will be accountable to Parliament, with a new mandate, new clarity of mission, new leadership and new powers.