As part of the arrangements for restructuring the FRC, which were announced on 29th March last year, it was agreed that the Chairs of all the FRC’s Operating Bodies should formally become executive Directors on the new FRC Board after being confirmed in office (or newly appointed if the existing Chair decided not to continue).

The final step in this process was taken today when the non-executive Directors of the FRC extended the tenure of Richard Fleck as Chair of the APB until the end of his second three year term on 31st March 2010.

The new FRC Board now has its full complement of sixteen members, i.e. the Chair and Deputy Chair, seven other non-executive Directors, the Chief Executive and the Chairs of the six Operating Bodies.

1. The Financial Reporting Council (FRC) is the UK's independent regulator responsible for promoting confidence in corporate reporting and governance.
2. The FRC’s functions are exercised principally by its operating bodies (the Accounting Standards Board, the Auditing Practices Board, the Board for Actuarial Standards, the Financial Reporting Review Panel, the Professional Oversight Board and the Accountancy and Actuarial Discipline Board) and by the Board. The Committee on Corporate Governance assists the Board in its work on corporate governance.
3. Press enquiries should be directed to Ian Rodger, Head of Communications, on tel: 020 7492 2395, mobile: 07900 894 954 or email: i.rodger@frc.org.uk