Technical & Quality Director
|Job Title:||Technical & Quality Director|
|Salary:||£102,424 p.a (FTC to December 2020)|
|Contact Name:||Lisa Newland|
|Job Published:||February 17, 2020 10:11|
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 Quality Review team (AQR) monitors the quality of listed and major public interest audits undertaken by the major UK audit firms and is a leading international audit regulator, playing a significant role globally in the promotion and development of audit regulation.
AQR inspection work covers both reviews of individual audits and reviews of firm-wide arrangements to support audit quality and ensure ethical requirements are met. AQR also undertakes thematic inspections, focusing on particular aspects of audit across a sample of audits and firms. In accordance with the FRC’s transparency objective, significant elements of AQR’s inspection work is published and of particular public interest. As a member of the AQR team, successful candidates will supervise and participate in inspection activity and the preparation of high quality reporting to stakeholders and the public.
This is an exciting time to work at the FRC as we respond to the government-led reviews of the audit market, enhance our effectiveness and transition to a stronger regulator.
The role provides a unique insight into how the major firms operate and how they are responding to current issues in the profession and the changes in regulatory requirements. Successful candidates will have the satisfaction of being able to influence the practices and procedures of the major audit firms to enhance quality. They will be given responsibility for significant elements of projects relevant to the regulation of auditors and accountants, including:
- Leading the AQR’s technical and quality team
- Supervision, coaching and oversight of the technical and quality team
- Providing high quality support and guidance on technical and reporting matters to AQR and other FRC teams as appropriate
- Leading quality reviews and contributing to the assessment of the work carried out on major audits. This includes challenging the appropriateness of judgements made on key audit and accounting issues in a confident and balanced manner
- Developing summaries and insights arising and communicating these both within the FRC and externally
- Building constructive and professional relationships with senior management at the audit firms and other regulators
- Active involvement in cross-FRC initiatives and working with other FRC teams as appropriate
An accounting qualification coupled with membership of ICAEW, ACCA, ICAS or ICAI (or equivalent) are required. Significant and senior experience in leading and undertaking audit inspections or leading a quality function is essential, with experience working in a regulatory environment or large audit firm required.
The ideal candidate will have:
- Significant experience at a senior level in audit technical and regulatory roles, including in relation to audit inspections
- Exceptional knowledge of current auditing and ethical requirements
- Strong understanding of the regulatory and audit environment
- Excellent oral communication and written skills with the ability to express issues in a clear, balanced and concise manner
- Strong leadership and team working skills with the confidence and the ability to engage with and, where appropriate, challenge the judgements made
- Substantial experience of auditing UK listed companies and / or other major entities and undertaking quality control reviews within a professional / regulatory environment and dealing effectively with other senior staff
- Experience at managing the resolution of sensitive issues and potentially confrontational situations in a constructive and professional manner
- Ability to liaise effectively with the FRC Board and committees
- Excellent attention to detail and accuracy
The role is based in our central London office. Flexible working arrangements will be considered, including occasional working from home where practicable.
Rewards and benefits
- The FRC offers competitive remuneration packages, with benefits including 30 days annual leave plus the 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 firstname.lastname@example.org. 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
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