The FRC is governed by its Board. The Chair and all Board members are appointed by the Department for Business, Energy and Industrial Strategy (BEIS).
Following consultations in 2020, the Board agreed amendments to the FRC's governance structure to enhance the effectiveness, speed and responsiveness of the organisation, while providing clearer lines of accountability and empowering the Executive through the establishment of Board Committees populated solely by Board members. An Advisory Panel and group of Senior Advisors were established to replace the Advisory Councils, Audit Quality Review Committee, Corporate Reporting Review Committee, Case Management Committee and Financial Reporting Review Panel. Relevant procedures were amended to reflect these structural changes.
The Board discharges some of its responsibilities directly and others through its two governance Committees and three regulatory Committees. The three regulatory committees are supported by Senior Advisors.
The Governance Committees
The Regulatory Committees
Panels and Committees maintained pursuant to the FRC's enforcement procedures