UK's Financial Reporting Council seeks non-executives to AADB
Accountant and two lay members required
11 Dec 2008
The Financial Reporting Council (FRC), the UK's independent regulator for corporate reporting and governance, is seeking to recruit a number of non-executive members to join the Accountancy and Actuarial Discipline Board (AADB).
The AADB is the independent, investigative and disciplinary body for accountants and actuaries in the UK, and its schemes deal with cases of misconduct by accountants, accountancy firms or actuaries which involve important issues of public interest in the UK. The AADB operates and manages an independent investigation and disciplinary scheme for accountants, and another for actuaries:
- for the investigation of public interest cases, and
- for bringing disciplinary proceedings where appropriate.
The managing board consists of lay and professional members, with a lay majority. All of the UK professional bodies for accountants and actuaries participate in the AADB schemes.
The FRC is seeking one accountancy member and two lay members for this board. The managing board's role is:
- to decide whether individual cases should be investigated under one of its schemes
- to keep under review the working of the schemes and the supporting regulations to ensure that they are operating effectively, and
- to publicise its activities and achievements.
Skills and experience
The accountancy member must be a member of one of the following professional bodies - ACCA, ICAEW, CIMA, ICAI, ICAS or CIPFA - and should have demonstrable practical expertise and experience as accountants or auditors in the private, public or voluntary sectors.
Lay members could come from any background but should have demonstrable experience of financial and business matters in the private, public and voluntary sectors. Accountants and actuaries are not eligible to sit as lay members.
Both accountancy and lay members should also be able to demonstrate a record of achievement and personal credibility in their field; and the ability to analyse complex issues, assess reports impartially and reach a considered view on the basis of the information available. Some experience within the regulatory or disciplinary environment would be an advantage.
Appointments will be for an initial period of three years. The anticipated time commitment of board members is approximately 15 days a year. Board members are paid annual fees of £7,500 and reasonable travel expenses.
Further information about the AADB can be found on its website, while specific questions about the role may be addressed to Anna Colban on 020 7492 2451.
To apply, please send a copy of your CV and a covering letter (quoting the reference number aadb/br/1208) by e-mail to email@example.com or by post to:
Financial Reporting Council
London WC2B 4HN
The closing date for applications is Thursday 18 December. Interviews are expected to take place in February 2009.