Finacial reporting council new head

The Financial Reporting Council (FRC) is a UK-based independent regulator responsible for promoting transparency, accountability, and confidence in corporate reporting. As of 2022, the new head of the FRC is:

  1. Samantha Barrass: She took up the role of Chief Executive of the FRC on January 3, 2022. Barrass has extensive experience in the financial services sector, having worked at the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA), and the Bank of England. She has also held various leadership roles in the private sector, including as a non-executive director at several listed companies.

Prior to her appointment as FRC CEO, Barrass was the FCA's Director of Supervision, where she was responsible for overseeing the supervision of over 50,000 financial services firms. Her expertise in financial regulation, corporate governance, and risk management will be valuable in leading the FRC's efforts to promote high-quality financial reporting and corporate governance practices.

Under Barrass's leadership, the FRC is likely to focus on several key areas, including:

  1. Strengthening corporate governance: The FRC will continue to emphasize the importance of effective corporate governance, including board composition, executive remuneration, and risk management.
  2. Improving financial reporting: The FRC will work to enhance the quality of financial reporting, including the adoption of International Financial Reporting Standards (IFRS) and the development of new reporting requirements.
  3. Enhancing audit quality: The FRC will focus on improving the quality of audits, including the development of new audit standards and the implementation of measures to increase transparency and accountability.
  4. Promoting transparency and accountability: The FRC will continue to promote transparency and accountability in corporate reporting, including the publication of annual reports and accounts, and the provision of information to investors and other stakeholders.

Overall, Samantha Barrass's appointment as FRC CEO brings a wealth of experience and expertise to the role, and she is well-positioned to lead the organization in its efforts to promote high-quality financial reporting and corporate governance practices.