FRC appoints David Childs to chair Conduct Committee

News types: Generic Announcement, Staff/Board Announcements

Published: 19 December 2013

PN 113

The Financial Reporting Council (FRC) announces the appointment of David Childs to chair its Conduct Committee. He will take up the position and join the Board of the FRC on 1 May 2014 when the current Chair, Richard Fleck, steps down. Richard Fleck will remain Chairman of the Financial Reporting Review Panel (FRRP) until the end of 2014.

David Childs is Managing Partner of Clifford Chance LLP, heading one of the world's leading law firms. Before taking on the Managing Partner role he specialised in corporate finance work, particularly M&A.

Baroness Hogg, Chairman of the FRC, said,

“I am delighted that David Childs will become the new chair of the Conduct Committee. His experience of the legal issues facing corporate Britain will be invaluable to the vital work of the FRC as it continues to deploy the greater powers it has acquired since reform ever more effectively. I would like to express my thanks to Richard Fleck for his work over a number of years on the Board of the FRC and I am pleased that he will continue to chair the FRRP.”  

David Childs said,

“A strong but fair regulatory approach is critical to fostering investment in the UK’s corporate sector. I look forward to supporting the FRC in its vital role ensuring high standards of professional behaviour are maintained.”  

The FRC’s Conduct Committee is the Board Committee responsible for overseeing the FRC’s Conduct Division in its work promoting high quality corporate reporting. Its responsibilities include overseeing:
  • Monitoring of Recognised Supervisory and Recognised Qualifying Bodies
  • Audit Quality Reviews
  • Corporate Reporting Reviews
  • Professional Discipline

Notes to editors:
  1. The FRC is responsible for promoting high quality corporate governance and reporting to foster investment.  We set the UK Corporate Governance and Stewardship Codes as well as UK standards for accounting, auditing and actuarial work.  We represent UK interests in international standard-setting.  We monitor and take action to promote the quality of corporate reporting and auditing.  We operate independent disciplinary arrangements for accountants and actuaries; and oversee the regulatory activities of the accountancy and actuarial professional bodies.
  2. David Childs has been Managing Partner of Clifford Chance since 2006. He previously held roles as the firm’s Chief Operating Officer and Head of the Corporate Practice, having joined the firm in 1973. David Childs has an LLM from University College London.

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