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.
Andrew Tyrie airs views on the Finance Bill, 'Making Tax Policy Better' report, and Brexit
In our latest managing partner Q&A looking towards 2017, CVR Global's Richard Toone talks about recruitment, and the potential threat of competition from the legal sector, as key issues for the firm in the coming year
Deloitte to avoid tendering for government contracts over the next six months, to appease Theresa May following consultant's report that painted a less-than-flattering picture of Brexit plans
In our first Q&A looking towards 2017, Menzies senior partner Julie Adams flags up increasing digitisation, aligned with more hands-on consultative services, as the key mix for her practice