The Financial Reporting Council (FRC) is responsible for the regulation of UK statutory auditors and audit firms and for monitoring developments in the market. We aim, through our supervision and oversight, to develop a fair, evidence-based and comprehensive view of these firms, to judge whether they are being run in a manner that enhances audit quality and supports the resilience of individual firms and the wider audit market. We adopt a forward-looking supervisory approach to audit firms, and we hold firms to account for making the changes needed to safeguard and improve audit quality. Further information about the role of the FRC can be found at
www.frc.org.uk . Audit Market Supervision (AMS) takes a cross-market approach to areas of importance to audit quality and firm resilience, assessing the effectiveness of the audit firms’ arrangements in the following areas: - Audit quality management arrangements - Governance and leadership - Values and culture - Risk and resilience - Operational separation Staff have a range of backgrounds (governance, culture, risk management, internal audit, regulation, and audit) representing the broad subject matter within the team’s remit. The AMS Head of Governance is seeking to appoint a Project Director to lead on the team’s work assessing and monitoring the governance of large audit firms, including the changes arising from the implementation of Operational Separation of the four largest audit firms. This is an exciting opportunity to work within a developing area of audit market supervision and shape the future development of the audit profession. The role will also allow the successful individual to input into strategic decisions on the nature of our supervision approach as we develop it. The role will report into the AMS Head of Governance and Audit Committee Supervision. The Role: The role involves developing and delivering projects relating to the Audit Firm Governance Code and contributing to the management of the AMS relationships with the firms. This will include: Leading projects assessing the quality of the implementation of the Audit Firm Governance Code at larger audit firms; Identifying key findings from our monitoring activities and presenting effectively (both in writing and orally) to the large audit firms to achieve change; Assessing the effectiveness of the governance aspects of the Operational Separation of largest audit firms; Engaging with senior leadership and Independent Non-Executives of the largest audit firms; and Leading policy initiatives connected to the design and application of the Audit Firm Governance Code. Contributing to the effective management of the Audit Market Supervision team. In due course there may be opportunities to contribute to the development and implementation of the FRC’s supervision of the new Minimum Standard for Audit Committees in the FTSE 350s. The Person: We are seeking an individual with a degree and/or professional qualification and experience of working in professional services or a regulatory field, or with experience in governance at large companies or other entities. The ideal candidates will have: Chartered Governance Professional qualification (or similar). Experience in regulation or supervision in audit, accountancy, law, corporates or another sector. Broad understanding of the role of governance and experience of how good governance arrangements are implemented. Understanding of the purpose and execution of audit (as regulator, management or auditor). Excellent written and oral communication skills, including drafting reports. Effective project and time management skills to complete work within the timetable set. The role is based in our Birmingham Office. The post holder should be able to work flexibly to support the team’s activities and also contribute to FRC-wide initiatives as necessary.
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www.frc.org.uk . Audit Market Supervision (AMS) takes a cross-market approach to areas of importance to audit quality and firm resilience, assessing the effectiveness of the audit firms’ arrangements in the following areas: - Audit quality management arrangements - Governance and leadership - Values and culture - Risk and resilience - Operational separation Staff have a range of backgrounds (governance, culture, risk management, internal audit, regulation, and audit) representing the broad subject matter within the team’s remit. The AMS Head of Governance is seeking to appoint a Project Director to lead on the team’s work assessing and monitoring the governance of large audit firms, including the changes arising from the implementation of Operational Separation of the four largest audit firms. This is an exciting opportunity to work within a developing area of audit market supervision and shape the future development of the audit profession. The role will also allow the successful individual to input into strategic decisions on the nature of our supervision approach as we develop it. The role will report into the AMS Head of Governance and Audit Committee Supervision. The Role: The role involves developing and delivering projects relating to the Audit Firm Governance Code and contributing to the management of the AMS relationships with the firms. This will include: Leading projects assessing the quality of the implementation of the Audit Firm Governance Code at larger audit firms; Identifying key findings from our monitoring activities and presenting effectively (both in writing and orally) to the large audit firms to achieve change; Assessing the effectiveness of the governance aspects of the Operational Separation of largest audit firms; Engaging with senior leadership and Independent Non-Executives of the largest audit firms; and Leading policy initiatives connected to the design and application of the Audit Firm Governance Code. Contributing to the effective management of the Audit Market Supervision team. In due course there may be opportunities to contribute to the development and implementation of the FRC’s supervision of the new Minimum Standard for Audit Committees in the FTSE 350s. The Person: We are seeking an individual with a degree and/or professional qualification and experience of working in professional services or a regulatory field, or with experience in governance at large companies or other entities. The ideal candidates will have: Chartered Governance Professional qualification (or similar). Experience in regulation or supervision in audit, accountancy, law, corporates or another sector. Broad understanding of the role of governance and experience of how good governance arrangements are implemented. Understanding of the purpose and execution of audit (as regulator, management or auditor). Excellent written and oral communication skills, including drafting reports. Effective project and time management skills to complete work within the timetable set. The role is based in our Birmingham Office. The post holder should be able to work flexibly to support the team’s activities and also contribute to FRC-wide initiatives as necessary.
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