News July 2020 FRC Supervision Division Restructuring and Appointments

FRC Supervision Division Restructuring and Appointments

29 July 2020
Earlier this year, the FRC announced the creation of a new Supervision division. The aims of the new division are to:
- enhance forward-looking supervision of the largest audit firms alongside an expanded programme of audit inspections/file reviews;
- build thematic work across firms, addressing both audit quality and audit market resilience; and
- create audit firm ‘supervisors’, bringing together in one place functions which are currently split across AQR, AFMAS and (in relation to Constructive Engagement) the Case Examiner. 
Implementation of this restructuring programme had been temporarily paused due to COVID-19. Following a rigorous recruitment process the FRC can announce three new senior appointments to take forward this work.

They are:
  • Claire Lindridge has been appointed Director of Audit Market Supervision.  Claire has led the AFMAS team as Acting Director since October 2018 in the latest role of her 14 year career at the FRC.
  • Andrew Meek has been appointed Director of Audit Firm Supervision.  Andrew has led Audit Quality Review as Acting Director since August 2018. He has also been at the FRC for 14 years, most recently as an Inspections Director, prior to the Acting Director role.
  • Anthony Barrett has been appointed Director of Audit Quality Review.  Anthony will join the FRC on 1 October and was previously Assistant Auditor General at the Wales Audit Office.  In that role, Anthony had overall responsibility for leadership and management of the Office, including strategy development and operational delivery of all financial and performance audits for around 800 public bodies. 
The changes will come into effect on the 5th October 2020.