Nicholson takes doomed Foundation chair
Lord Gordon Borrie is to be replaced by Sir Bryan Nicholson as chairman of the Accountancy Foundation during the transition period as it is incorporated into the beefed-up Financial Reporting Council.
Link: DTI to delegate powers
Nicholson will hold the role in addition to his current chairing of the FRC from the 31 March. Borrie is understood to be retiring after helping to establish the independent regulatory regime for the accounting profession.
The decision will also mean that Borrie will now no longer hold a position on the implementation committee, which was established to smooth the process of the FRC subsuming the Foundation.
Borrie had previously been critical of the help he had received from the ICAEW in setting up the Foundation’s investigation and discipline board.