Transformation on cards for FRC

News Article - 18 October 2007
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The Financial Reporting Council (FRC) is undergoing a period of transformation, according to its chairman.

Sir Christopher Hogg said the independent regulator is now "transforming itself, on process and on time".

His comments came upon the announcement of the non-executive directors of the new FRC board.

Sir Christopher, who along with the present chief executive Paul Boyle will join the seven new non-executive directors and deputy chair Baroness Sarah Hogg, thanked the existing board and council for their "many and substantial contributions" to the regulator.

The new board comes into force on November 1st and is set to expand to 16 members over the coming months, the FRC has said.

Meanwhile, the International Accounting Standards Board has appointed the former Dutch deputy prime minister and finance minister Gerrit Zalm as its chairman of trustees.

Mr Zalm will commence his three-year term on January 1st next year, heading up the organisation's oversight body.

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