FRC appoints Claudia Mortimore Interim Executive Counsel
12 September 2017
The Financial Reporting Council (FRC) has appointed Claudia Mortimore as Interim Executive Counsel and Director of Enforcement from 1 November 2017, following the resignation of Gareth Rees QC.
Claudia Mortimore was called to the Bar in 1994. She practised at Red Lion Chambers for 10 years, before working as a prosecutor at both Revenue and Customs Prosecutions Office (RCPO) and the Department for Business. She joined the FRC in 2013.
Notes to editors:
- The Financial Reporting Council (FRC) is the UK’s independent regulator responsible for promoting transparency and integrity in business. The FRC sets the UK Corporate Governance and Stewardship Codes and UK standards for accounting and actuarial work; monitors and takes action to promote the quality of corporate reporting; and operates independent enforcement arrangements for accountants and actuaries. As the Competent Authority for audit in the UK the FRC sets auditing and ethical standards and monitors and enforces audit quality.
In relation to enforcement matters, the FRC is the independent, investigative and disciplinary body for accountants and actuaries in the UK dealing with cases which raise important issues affecting the public interest.
To meet its responsibility as the competent authority in respect of audit enforcement, the FRC operates the Audit Enforcement Procedure. This procedure applies to the investigation and sanctioning of breaches of the various requirements of the statutory auditors of Public Interest Entities (PIEs) and any other cases retained by the FRC including AIM companies with a market capitalisation in excess of €200m. In brief, the stages of the Audit Enforcement Procedure are: