Chair - Financial Reporting Advisory Board
3 months ago
Job summary
HM Treasury is seeking a new Chair of the Financial Reporting Advisory Board (FRAB) as the current Chair�s term comes to an end. The Board plays a key role in developing public sector financial reporting guidance, to help improve the quality of public sector reporting and increase accountability. The Board advises UK public sector accounting standard setters on matters related to financial reporting. Created in 1996, the Board plays a valuable independent role in the accounting standard setting process.
Commitment
FRAB meets three times each year; these meetings are hybrid, although the Chair typically attends in person. Papers for each of these meetings are shared with the Chair and other Board members a week in advance. The number and complexity of issues being discussed mean that each meeting typically requires a two-day time commitment from the Chair. Issues that arise between meetings are sometimes resolved via correspondence or can require the Chair to convene virtual ad hoc meetings of the Board if an urgent decision is required. The Chair also engages on a regular basis with HMT, including to agree the agendas for Board meetings.
Job description
The Chair is expected to contribute to the overall success and effective and efficient operation of the FRAB in the following ways:
Chair and lead the FRAB, ensuring its effectiveness and encouraging contributions from all of its membersEnsuring the FRAB fulfils its remit in accordance with legislation and its Terms of ReferenceEnsuring that the FRAB encourages the highest possible standards in financial reporting by governmentMaintain and build the FRAB�s credibility in its provision of independent advice on financial reporting principles and standards to the relevant authorities, in its reporting to Parliament, and in its dealings with its stakeholders more widely;Ensure the strength and calibre of the FRAB through effective review of its performance and by succession planningEnsure the FRAB maintains excellent relationships with relevant standard setting bodies in the profession, including the Financial Reporting Council, the International Accounting Standards Board, and the International Public Sector Accounting Standards Board.Person specification
It is essential in your supporting statement and at interview that you provide evidence and proven examples against each of the selection criteria of how you meet the requirements of the post. The criteria will be used to assess whether candidates have the required qualities, skills and experience listed below.
We would like you to demonstrate the following essential criteria:
Proven track record of chairing or strong leadership capability at this levelEvidence of strong professional grounding within the accounting and finance professionEvidence of strong communication and presentation skills, including the ability to represent the views of others effectively with a wide range of public and private stakeholdersEvidence that you are a qualified accountant (CCAB or equivalent), with evidence of strong International Financial Reporting Standards knowledge and application.Personal qualities:
Committed and goal focused with the ability to set clear priorities and a strategic directionExcellent interpersonal skills that generate trust and confidence in others.-
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