Nicholson’s tenure at FRC extended

Link; Toughened FRC needs substantial budget to work

Patricia Hewitt, DTI secretary, today announced the re-appointment of Sir Bryan as chairman and the extension of his contract, which was due to end in June 2004.

Hewitt said: ‘Sir Bryan Nicholson has already led the FRC through a period of significant change. His work to implement Derek Higgs’ recommendations on the role of non-executive directors resulted in a revised Combined Code that offers clarity, certainty and a robust framework for corporate governance.

‘I am delighted that Sir Bryan will remain at the helm of the FRC. I have no doubt that he will provide strong leadership and much-needed continuity in this time of change.’

Sir Bryan said he was looking forward to continuing with the work of ‘ensuring the UK’s new framework of financial reporting, accountancy and audit regulation, and corporate governance is robust and of the highest integrity’.

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