The current Chief Executive Officer (CEO) of the Financial Reporting Council (FRC) is Richard Moriarty.
Understanding the FRC and its Leadership
The Financial Reporting Council (FRC) is the UK's independent regulator responsible for promoting transparency and integrity in business. Its primary functions include setting corporate governance and stewardship codes, setting standards for accounting and auditing, and monitoring and enforcing the quality of corporate reporting. The CEO plays a pivotal role in leading the organization to achieve these objectives.
Richard Moriarty: FRC's Chief Executive Officer
Richard Moriarty took on the leadership role as CEO of the FRC, bringing extensive experience from both the public and private sectors. His tenure has seen the FRC continue its crucial work in overseeing UK corporate governance, audit, and actuarial standards, contributing to public confidence in financial reporting. His strategic direction helps the FRC adapt to evolving economic landscapes and regulatory demands, ensuring the UK maintains high standards of financial oversight. As of recent updates, he has been in this role for some time, leading significant initiatives and discussions, as highlighted by a "one year on" conversation in October 2024.
Key Leadership Role:
| Role | Name | Organization | Focus Area |
|---|---|---|---|
| Chief Executive Officer | Richard Moriarty | Financial Reporting Council | Strategic direction, operational oversight, stakeholder engagement |
The FRC's Mandate
The FRC's work is critical for maintaining investor confidence and the overall health of the UK's financial markets. Its responsibilities include:
- Setting Standards: Developing and maintaining accounting, auditing, and actuarial standards.
- Monitoring and Enforcement: Overseeing the quality of audit and corporate reporting, and taking action where standards are not met.
- Corporate Governance: Promoting high standards of corporate governance through the UK Corporate Governance Code.
- Stewardship: Encouraging effective engagement between investors and companies through the Stewardship Code.
Richard Moriarty's leadership ensures these vital functions are carried out effectively, guiding the FRC through its mission to serve the public interest by promoting good corporate governance and reporting.
