Five years in FRC hotseat enough for Boyle

Paul Boyle, FRC chief executive

Paul Boyle is stepping down as CEO of the Financial Reporting Council after five years heading up the accountancy watchdog.

Boyle will remain in post until a successor has been appointed.

He will probably be best remembered for a review into the UK audit industry which called for the Big-Four dominated market to be opened up to more competition and for firms to be subject to corporate governance rules.

FRC chairman Sir Christopher Hogg said that Boyle had boosted the credibility of the FRC in the UK and abroad.

‘I am sorry that he will be leaving but I have long been aware that it was likely that he would want to move on after a five-year tenure and that remains the position,’ Sir Christopher said.