The appointment of Boyle’s successor will have a bearing on everything from
FRC funding to the future of fair value. More significantly, it may well alter
the Council’s strategy of injecting competition into the high-end audit market.
The thinking of the man or woman who takes over is likely to be the single
most important factor in determining whether the likes of Grant Thornton, BDO
Stoy Hayward and Mazars offer a serious challenge to the Big Four.
With Sir Christopher Hogg also due to stand down this year, the new chief
executive will only wield more influence in this debate.
There is no clear front runner to succeed Boyle, although one or two of his
existing lieutenants may fancy their chances.
However, Boyle’s next move may prove significant.
He has enjoyed more than a few rows with the Big Four over audit choice, so
partnership can probably be ruled out.
Given that he joined the FRC after a stint at the Financial Services
Authority, his hunger for regulatory work may well be sated.
So perhaps a return to business beckons. Might there be a current or recently
departed FTSE finance director seeking a job swap? Stranger things have