Jun 072019

Chair - Endorsement Board - Financial Reporting Council

Recruiter: Odgers Berndtson
Location: London
Salary: £190,000 per annum plus pension for a three year fixed term contact
Posted: 06 Jun 2019
Closes: 06 Jul 2019
Ref: 72769
Job Function: Chair
Industry: Finance, Public, Public
Position Type: Contract

A new United Kingdom Accounting Standards Endorsement Board (UKEB) is being established to serve the UK public interest. It will contribute to the research and development of high-quality international financial reporting standards and their endorsement and adoption for use in the UK.

The new UKEB will influence the development of International Financial Reporting Standards (IFRS), and play a central role in the international debate on developments in financial reporting by entities.

The organisation will be accountable to the Secretary of State for Business, Energy and Industrial Strategy (BEIS) on technical matters, and to the board of the Financial Reporting Council (FRC) on governance and due process. Following an Independent Review commissioned by BEIS, the FRC will be replaced in due course with a new independent regulator and Competent Authority for Audit – the Audit, Reporting and Governance Authority (ARGA).

Key responsibilities and accountabilities

A full time position, the Chair of the UKEB will have full operational responsibility for determining and implementing the strategy and work agenda, including responsibility for the management of the Secretariat.

They will be responsible for:

  • Establishing the UKEB’s credibility, leading the recruitment of its board members and further developing the secretariat, in line with Government guidelines.
  • Leading the UKEB in determining its strategic direction and work agenda, to agreed timescales, and directing and managing the organisation’s activities to ensure they are transparent and operate in the public interest.
  • Promoting the UK’s views on financial reporting and establishing the profile and reputation of the UKEB.
  • Ensuring the UKEB remains independent in its decision-making, and acting as the lead contact for the relationship with the FRC, BEIS and the Secretary of State, and wider stakeholder relationships to include media, politicians and other interested groups.

Key skills and experience

The successful candidate will have knowledge and understanding of the role of accounting in ensuring the seamless operation of capital markets, locally and globally. They will have credibility in financial reporting and accounting standard-setting circles globally, to help ensure the UK is seen as having a strong voice amongst the global standard setting community.

An effective full-time Chair will be expected to demonstrate:

  • A credible contribution in areas relevant to financial reporting accounting and the operation of financial markets.
  • Effective leadership with the ability to represent the UK’s views with credibility and integrity, and to develop an effective Board and provide leadership through periods of significant change.
  • A proven track record of influencing, with excellent communication skills, including the ability to encourage debate and to challenge.

The deadline for application is: Friday 28th June at 23:00.

For further information or to apply, please visit: www.odgers.com/72769

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