FRC
|
Annual Report and Financial S
tatements 2020/21
56
Sir Jonathan Thompson
Chief Executive Ocer
and Accounting Ocer
Appointed October 2019
Sir Jon is
CEO and Accounting
Ocer.
He leads the Executive team and is
responsible for implementation of the
agreed strategy. As
Accounting Ocer
he ensures the FRC is run in accordance
with the Framework Agreement agreed
with BEIS, the requirements of the
Managing Public Money principles as
well as any additional instructions and
guidance issued from time to time by
BEIS, HM T
reasury and the Cabinet
Oce, while maintaining
the FRC’s
position as an independent regulator.
Experience
Prior to joining the FRC, Jon was the
CEO of HMRC, the UK tax authority,
collecting more than £625bn, employing
more than 65,000 people and driving
reform of the UK tax system. Before
HMRC, Jon was P
ermanent Secretary of
the Ministry of Defence, jointly leading
the £36bn organisation with the Chief
of Defence S
ta. Jon has had
a lengthy
nance career including
as Director
General, Finance at the MoD, Director
General, Corporate Services at the
Department for Education and Finance
Director of Ofsted. Before joining the
civil service in 2004 Jon held a number
of corporate services
and nance roles
in the public and corporate sectors.
Mark Babington
Executive Director,
Appointed July 2020
Mark leads the FRC’s T
echnical and
Public P
olicy Division covering audit,
corporate reporting, corporate
governance and stewardship, actuarial
and the FRC Lab. The Division also
includes the FRC’s S
takeholder
Engagement T
eam. Prior to joining the
Executive Committee, Mark led the FRC’s
UK Audit P
olicy Programme and work
to support the reform of international
standard setting for auditors by global
regulatory authorities. He represents
the UK on the National S
tandard Setters
liaison groups for the IAASB, and the
IESBA, and has served on the IASB’s
Accounting S
tandards Advisory Forum.
Experience
Before joining the FRC, Mark was a
Director at the
UK National Audit
Oce,
Leading the audits of a number of major
government departments. For
ve
years, Mark was a member of the UK
Government’s counter-fraud taskforce.
He is a former Chair of the International
Colleges of Auditors of several European
defence-related organisations. Mark
is an Independent Governor, Board
Member and Chair of the Audit and
Risk Committee of the W
estminster
Foundation for Democracy, which is the
UK public body dedicated to supporting
democracy around the world.