ICAEW’s Groom gets watchdog role

Groom, management consultant and former sole practitioner from the Midlands, takes up his new role next to Sir Iain Vallance, president of the Confederation of British Industry and former BT chairman, at the FRC. The Council was set up in the early 1990s in response to widespread abuse of accounting rules.

Groom has written extensively on accountancy, audit and tax and has regularly lectured for the institute. Groom replaces Graham Ward, former ICAEW president and immediate past chairman of the Consultative Committee of Accountancy Bodies.

Sir Bryan Nicholson this month succeeded Sir Sydney Lipworth who was chairman of the FRC since 1994. Sir Bryan has been chairman of Cookson Group plc since 1998 and a non-executive director of Equitas Holdings Ltd since 1996.

The FRC is responsible for promoting good financial reporting and overseeing the Accounting Standards Board, headed by Mary Keegan, and the Financial Reporting Review Panel.


Vallance steps down at BT, but in at FRC

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