Our welcome message to the new CEO of the Financial Reporting Council (FRC), Richard Moriarty
ICAS congratulates Richard Moriarty on his appointment as CEO of the Financial Reporting Council (FRC), succeeding Sir Jon Thompson, who has stepped down after being appointed as Chair of HS2.
The appointment was announced by Minister Kevin Hollinrake MP, on behalf of the Department of Business and Trade on 31 July. Mr Moriarty will take up his role at the start of October, with Sarah Rapson taking the role of Acting CEO and Accounting Officer during August and September.
Bruce Cartwright, Chief Executive of the Institute of Chartered Accountants of Scotland (ICAS) said:
“I’m looking forward to working closely with Richard in his role, which he takes on a critical time in building both investor and public confidence in financial and corporate governance. People need to know that they can trust financial services and businesses to do their job well and to uphold the highest ethical standards in all that they do. ICAS has been promoting and upholding ethical leadership since 1854. The Royal Charter which founded us places public interest at the heart of what we do.
“Fair, proportionate and robust regulation has a central role to play in supporting economic growth to the benefit of all stakeholders, including the public.
“The transition from the FRC to the new Audit, Reporting and Governance Authority (ARGA) will be an incredibly important time and we wish Richard all the very best in leading the organisation on its next phase.”
Richard Moriarty takes on the role of CEO of the FRC after 20 years working with various regulatory bodies, most recently as CEO of the Civil Aviation Authority. He has built up extensive experience of the regulatory landscape across a wide range of regulated sectors as well as of economic regulation and competition.