Professional Bodies Supervision

News types: Generic Announcement, Staff/Board Announcements

Published: 1 June 2023

The Financial Reporting Council has announced that today the Professional Oversight Team (POT) has been restructured and will be known as the Professional Bodies Supervision (PBS) team going forward. The change reflects an agreement made last year by the Board of the FRC for a new strategy for POT to deepen and strengthen our supervision of the Professional Bodies, building on the existing successful FRC supervision model for audit firms.

The new structure will enhance the leadership and management of PBS and we are pleased to announce the appointment of a new Deputy Director, Dhruve Shah, to support the supervision of the management team. Dhruve joins from the National Audit Office where he has served as key audit partner for the audits of a range of government departments, charities, and international intergovernmental organisations. He will oversee the five teams within PBS, namely:
  • Supervision of Professional Bodies
  • Supervisory Functions
  • Qualification & Learning
  • Quality Assurance & International
  • Operational Assurance

These changes will enable us to prepare for the additional powers that will be established by ARGA to enhance the way FRC oversees the accountancy and actuarial professions.