ICAEW’s Groom gets watchdog role

ICAEW's Groom gets watchdog role

The Financial Reporting Council, the UK's accounting rules watchdog, has named ICAEW president Michael Groom as the second of its two new deputy chairmen.

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.

Links

Vallance steps down at BT, but in at FRC

www.frc.org.uk

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource