Senior Inspector ISAC1 and ISQM1

Job Title: Senior Inspector ISAC1 and ISQM1
Contract Type: Permanent
Location: Unknown
Salary: 92920
Reference: AMSSI
Contact Name: Lisa Newland
Contact Email:
Job Published: December 15, 2020 14:30

Job Description

The Financial Reporting Council (FRC)’s mission is to serve the public interest by setting high standards of corporate governance, reporting and audit and holding to account those responsible for delivering themWe are the UK Competent Authority for audit.  We also set the UK Corporate Governance and Stewardship Codes as well as UK standards for accounting, auditing and actuarial work, and monitor and take action to promote the quality of corporate reporting and operate independent enforcement arrangements for accountants and actuaries. Further information about our role can be found at
The AMS team supervises the audit market, focusing on the largest firms, in the following areas:
  • leadership and governance;
  • values and behaviours;
  • business models and financial soundness;
  • risk management and control; and
  • evidence on audit quality.
The AMS Director is seeking to appoint a senior inspector to lead individual tranches of firmwide and thematic review work at the largest firms and to perform some inspection work directly in areas of heightened complexity. This exciting opportunity will also allow the individual to input into strategic decisions on the nature of our firmwide procedures as we adapt our inspection approach to reflect changes in the relevant requirements (notably the move from ISQC 1 to ISQM 1). The role will report into the AMS Inspection Leader for firmwide and thematic review work.    
The Role:
The role involves:
  • leading individual tranches of firm-wide and thematic review work, with the assistance of other inspection team members.
  • performing inspection work in areas of heightened complexity.
  • communicating results of inspection work to the firms and, in some circumstances, through public reporting.
  • contributing to the management of the AMS relationships with the firms.
The Person:
A degree and/or professional qualification, as well as experience working in professional services, risk management or a regulatory field are required. The ideal candidates will have:
  • Chartered Accountant qualification (or similar) 
  • Significant experience at senior manager level or above in the audit profession in the audits of listed and other public interest entities, or a similar level role within the central functions of an audit firm. Or significant prior experience in audit regulation.      
  • Strong technical auditing and accounting skills
  • Strong written and oral communication skills, including drafting action plans and public reports.
  • Ability to challenge the quality of firmwide policies and procedures at the audit firms. 
Effective project and time management skills to complete inspection work within the timetable set.
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 contribute to FRC-wide initiatives as necessary.
Rewards and benefits
  • The FRC offers competitive remuneration packages, including 30 days annual leave plus ability to buy extra leave.
  • Generous employer pension contribution of 10%.
  • Staff Employee Assistance Programme including confidential counselling and work life services.
  • Values in Practice Scheme, rewarding performance against our values and behaviours.
  • The FRC offers staff the opportunity to save at least 25% on the purchase of a new bike through the Cycle to work scheme.
  • 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.

Complete the Diversity Form here

Please apply by emailing a copy of your CV and covering letter to the FRC Recruitment team at 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
  • tell us where you heard about this job

Please note that we can only accept applicants who have the right to work in the UK.


Note to agencies:

FRC has a commitment to building relationships directly with candidates and only engages with agencies who are on our preferred supplier list to support us in sourcing quality candidates. We do not accept speculative CV’s from agencies that are not on our preferred supplier list. Any speculative or unsolicited CVs which are submitted without FRC instruction will be deleted and will not considered as an introduction.