Technical Advisor, Audit Policy (Technical Standards)
The Financial Reporting Council (FRC) is responsible for promoting transparency and integrity in business. We are the UK Competent Authority for audit and set the UK Corporate Governance and Stewardship Codes as well as UK standards for accounting, auditing and actuarial work. We monitor and take action to promote the quality of corporate reporting and operate independent enforcement arrangements for accountants and actuaries. Further information about the role of the FRC can be found at www.frc.org.uk.
The Audit and Assurance Policy Team is responsible for the development of audit-related policy. This includes: the development of technical standards and guidance; consistent interpretation and application of standards; leading the FRC’s contribution to international standard setting; commissioning reports and research; and providing input to ensure that the UK capital market, and the users of financial statements are supported by the provision of high-quality audit and assurance. The team’s work requires considerable stakeholder engagement, including with investors and other users of financial statements, professional bodies and audit firms, other regulatory authorities both in the UK and internationally and international and other national standard setters. It also means working closely with other teams across the FRC including policy teams on corporate reporting and corporate governance and also with audit quality monitoring, oversight and enforcement.
The Technical Director of Audit Policy at the Financial Reporting Council (FRC), has been appointed as a member of the International Auditing and Assurance Standards Board (IAASB) with effect from 1 January 2020. In supporting the Audit and Assurance Policy Team in the development of audit related policy, the Technical Advisor will support the Technical Director in the role as a member of the IAASB, including attending the meetings of the IAASB, Task Forces developing new or revised IAASB pronouncements, Working Groups considering other IAASB proposals, and meetings of other related groups. The Technical Advisor will also participate in audit policy team projects.
The role involves providing support to the Technical Director in relation to the role as an IAASB Board Member including:
- Attending meetings of the IAASB with the Technical Director.
- Providing support for Task Force meetings, Consultative Advisory Group meetings and National Standard Setter meetings as considered appropriate by the Technical Director.
- Providing support through:
- Developing background analysis in preparation for meetings, including reviewing and commenting on meeting papers and performing outreach;
- Understanding and responding to other IAASB member views;
- Making comprehensive records of discussions at meetings and preparing meeting notes;
- Drafting responses to correspondence and papers relating to the IAASB member’s role.
- Undertaking international outreach activities related to the IAASB and its activities.
- Undertaking outreach on IAASB activities in the UK, including maintaining a strong stakeholder network and developing a good, current understanding of their views (and rationales) regarding key IAASB projects and proposals.
- Co-operation and liaison with other members of the Audit Policy Team and other relevant teams at the FRC to ensure that the FRC view is fully informed and that FRC views and perspectives are appropriately reflected in the IAASB related activities undertaken;
- Participating in audit policy team projects as appropriate. including managing, and contributing to, A&A team projects (e.g. the development of new or revised standards and guidance material) from inception to completion. Including managing working parties and writing documents to a standard suitable for publication.
A CCAB qualification as well as experience working with and drafting technical audit-related standards and guidance are required. The ideal candidates will have:
- Significant audit experience.
- Experience in developing policy or developing and drafting technical material (standards and/ or guidance).
- Specialised knowledge of assigned areas, including international developments in those areas, and the work of the International Audit-Related Standard Setting Boards.
- Understanding of the commercial, regulatory and other external influences on audit to support the setting of high-quality standards and guidance.
The role is based in our Central London Office. The post holder should be able to work flexibly to support the team’s activities and also provide cover within the FRC as necessary.
Rewards and benefits
- The FRC offers competitive remuneration packages, including 30 days annual leave plus ability to buy extra leave
- The FRC has a strong work/ life balance ethos.
The FRC believes that equality of opportunity and diversity is important in the work that we do and we are strongly committed to being an inclusive employer. Our values of being fair and independent supports this commitment. We're a signatory to the Government's Disability Confident scheme, which means that we guarantee an interview to any disabled candidates entering under the scheme, should they meet the minimum criteria for a role.
Equal opportunities monitoring is an important means of demonstrating and implementing our commitment to promoting equality of opportunity and diversity. Completing our diversity form will assist the FRC to identify any barriers that prevent access to employment and career development for certain groups of people, and to develop solutions, such as action plans, new policies and practices. The form is completed on a voluntary basis and we strongly encourage all job applicants to complete it.
Please apply by emailing a copy of your CV and covering letter to the FRC Recruitment team at email@example.com. In the covering letter, please.set out, by reference to the person specification above, how you meet the required skillset
- confirm that you have the right to work in the UK
- confirm your current package and benefits, and
- tell us where you heard about this job