Paul George will become the Executive Director of Corporate Reporting and Governance and Melanie McLaren will become the Executive Director of Audit.  Both will continue to be members of the FRC Board.

Gareth Rees QC, will lead the Enforcement Division of the FRC’s Executive Counsel and join the Executive Committee.

Anne McArthur will continue as General Counsel and Company Secretary leading the Governance and Legal Team and a member of the Executive Committee.

The FRC will also introduce a new role of Executive Director Strategy and Resources.  It says that this will “ensure the FRC has the resources and processes to support the three year strategy and meet its new responsibilities as the UK’s competent authority, its funding needs and the Government’s deregulatory challenge”. 

The FRC says that the new divisional structure will “bring together responsibilities and harness resources to achieve the FRC’s objectives of; ensuring recent change is embedded to deliver high quality corporate reporting, raising audit quality by making a success of EU legislation on audit, promoting best practice and an ‘improvement culture’, deregulation and better regulation, [and] holding people to account”.

The press release is available on the FRC website.