The Board of the Financial Reporting Council (FRC) is made up of non-executive and executive directors and is collectively responsible for the long-term success of the FRC. All Board Members are appointed by the Secretary of State for Business, Energy & Industrial Strategy (BEIS).
The Board’s role is to provide strategic leadership of the FRC within a framework of prudent and effective controls which enables risk to be assessed and managed. The Board sets the FRC’s strategic aims, ensures that the necessary financial and human resources are in place for the FRC to meet its objectives and reviews management performance.
The Board also sets the FRC’s values and culture and ensures that its obligations to its stakeholders and others are understood and met. All directors must act in what they consider to be the best interests of the FRC, consistent with their statutory duties.
The Board comprises the Chairman, the Chief Executive as an Executive Director, the Chair of the Regulatory Standard & Codes Committee, the Chair of the Conduct Committee and other non-executive directors.
Read the FRC Non-Executive Board Member terms of appointment (PDF).