The director of the review board – an arm of the new regulatory regime for the accountancy profession – will not need to be an accountant, according to advertisements seeking candidates placed last week, writes Gavin Hinks. Sydney Treadgold, secretary of the Foundation – the umbrella body under which the Review Board will operate – said deliberations had concluded the new post required other qualities. ‘It’s a different kind of job we are looking at because the director will be looking at the processes of the new boards rather than technical accounting. The key job is to ensure that the public interest has been satisfied,’ he said. However, Treadgold acknowledged a non-accountant may have credibility problems with the profession. ‘That’s a fair comment,’ he said. ‘But by the same token if we get a person whose credibility is already at a high level, those problems, I think, will be overcome.’ Sir John Bourn, chairman of the Review Board and also head of the National Audit Office, will be interviewing candidates for the post which pays a six-figure salary. The Review Board will act as a public interest watchdog to a reshaped Auditing Practices Board, a new Ethics Standard Board and a new Investigation and Discipline Board. The new regulatory structure is designed to be more independent of the profession. The Foundation is chaired by a non-accountant, former Office of Fair Trading chief Lord Borrie QC.
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