FRC appoint new member to the Audit and Assurance Council

News types: Generic Announcement, Staff/Board Announcements

Published: 23 April 2019

The FRC has appointed Richard Lawrence to the Audit & Assurance Council from 1 April 2019.

Richard is a fellow of the Institute of Chartered Accountants in England and Wales, having qualified with PricewaterhouseCoopers. He is currently the Head of Accounting & Valuation Policy at The Royal Bank of Scotland Group plc (RBS), a role he has held since 2017. He has held a number of senior finance roles within RBS, and before that ABN AMRO NV, going back to 2003. Richard sits on a number of industry-focused committees at UK Finance and the ICAEW.

Notes to editors:

  1. The FRC’s mission is to promote transparency and integrity in business.  The FRC sets the UK Corporate Governance and Stewardship Codes and UK standards for accounting and actuarial work; monitors and takes action to promote the quality of corporate reporting; and operates independent enforcement arrangements for accountants and actuaries. As the competent authority for audit in the UK the FRC sets auditing and ethical standards and monitors and enforces audit quality.
  2. The Audit and Assurance Council advises the FRC Executive on the development and maintenance of high quality, effective and proportionate Standards, Guidance, SORPS and Practice Notes for audit and assurance work. In so doing the Council:
  • Provides perspective on the broader landscape affecting the quality of audit and assurance work;
  • Advises on the identification of current, emerging and potential risks to the quality of audit and assurance work and to the FRC’s responsibilities and strategic objectives in connection with audit and assurance matters;
  • Identifies opportunities to promote the quality of audit and assurance work through Standards, Guidance, Practice Notes and Statements of Recommended Practice for audit and assurance work; and
  • Provides advice on audit and assurance matters.

The Council comprises the Chair, who is a non-executive Director of the FRC Board, and up to 14 members. Up to half of the membership shall be practising members of the audit profession

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