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ICAEW comment on announcement of new FRC Chief Executive

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Published: 31 Jul 2023

Commenting on today’s announcement that Richard Moriarty will become the new CEO of the Financial Reporting Council, Michael Izza, ICAEW Chief Executive, said: “We welcome the appointment of Richard Moriarty as the new chief executive at the Financial Reporting Council and look forward to working with him.

“It’s more than five years since the collapse of Carillion and although there has been progress on corporate governance reform it has been uneven and remains incomplete. The FRC has done its best with the powers at its disposal, but the primary legislation to set up the new statutory regulator - ARGA - is now long overdue. With his experience at the CAA behind him, we hope that the new chief executive will press for ARGA to be established and then make it the kind of forward-looking improvement regulator the sector needs.

“We would like to thank Sir Jon Thompson for his leadership of the FRC through a period of momentous change for audit, reporting and governance regulation.”

ENDS

Notes to editors:

Contact: ICAEW media office, ruth.pott-negrine@icaew.com or 07557 161315

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