As part of the Regulatory Standards Division, assist in delivering the FRC objective of setting high standards in corporate reporting. This will involve working with the Director of Accounting and Reporting Policy, Senior Project Directors (or equivalents) and other Project Directors in the team to deliver projects in line with our annual strategy and plan.
Delivering allocated projects that fall into the following categories:
(i) issuing and maintaining financial reporting standards in the UK (and Republic of Ireland), including liaison with sector-specific SORP-making bodies;
(ii) issuing and maintaining guidance on non-financial reporting in the UK;
(iii) policy development work in relation to non-financial reporting in the UK
(iv) issuing and maintaining other relevant corporate reporting requirements or guidance in the UK;
(v) within the FRC’s remit, monitoring and influencing international corporate reporting developments either directly or working with other international standard setters and similar bodies (including IASB, IFASS and others), except that in relation to IFRS this has largely been transferred to the UK Endorsement Board;
(vi) research aimed at understanding current practice and influencing future developments in corporate reporting; and
(vii) undertaking due process reviews of the UK Endorsement Board; and
(viii) supporting the UK Sustainability Disclosure TAC as part of its secretariat.
In all cases, engaging with stakeholders to obtain their input on projects
Key Responsibilities
To deliver allocated projects (including influencing activities and issuing FRC pronouncements):
* perform research on studies, standards, reports and guidance available on the subject matter and related to the project, including from other standard setters;
* develop a proposed project timetable with key milestones;
* gather evidence and assess stakeholders’ views on the project, using formal and informal means as appropriate and at varying stages of the project;
* assess proposals from other standard setters and similar bodies and interact as appropriate with staff of those bodies to understand the proposals and share our views;
* prepare high-quality papers and other documents on time, and taking account of the views and advice of more senior staff;
* present papers and other documents (eg consultation documents, draft response letters, draft FRC pronouncements) to the FRC’s advisory groups including, project specific advisory groups, UK GAAP TAG (as appropriate) or the UK Sustainability Disclosure TAC proposing solutions/responses;
* prepare an impact assessment when relevant;
* in liaison with others, arrange for publication of documents when appropriate.
Participate as a member or observer in relevant working parties, including, when relevant, liaison with SORP-making bodies.
Provide presentations to stakeholders, draft articles for FRC and external publications.
Skills &Experience
* Educated to degree level (or equivalent, such as a Level 7 Apprenticeship), with a professional or post-degree qualification and significant post-qualification experience. An accountancy qualification is desirable and, if wishing to specialise in projects related to UK and Ireland accounting standards, is required.
* The ability to deliver own projects as part of a wider team with common goals, utilising input from wider team members when appropriate.
* The ability to present to the FRC’s advisory groups (as appropriate).
* The ability to represent the FRC at working groups.
* To develop an effective relationship with the FRC’s advisory groups etc, to present confidently in these situations on the views the group might form, outlining possible options and risks.
* To develop effective external relationships with other stakeholders with an interest in corporate reporting.
* To deliver own projects, and identify internal synergies with other FRC teams.
At least one of:
* Experience in technical accounting work or standard-setting or the ability to demonstrate a clear interest in these activities.
* Experience of the technical requirements or guidance in relation to wider corporate reporting, or the ability to demonstrate a clear interest in wider corporate reporting.
* May have experience of public benefit entities.
Generic skills:
* Ability to effectively manage a number of concurrent projects.
* Superior written and communication skills.
* Ability to create and maintain key external relationships.
* Ability to interact effectively and respectfully with stakeholders.
* Ability to analyse competing positions and develop practical solutions.
* Ability to work as part of a team and deliver to tight deadlines.
* Computer literate and competent in the use of Word.
* Committed to the objectives and regulatory principles of the FRC and to standard-setting and regulatory policy in the public interest.
Technical skills:
* Experience in technical accounting work or standard-setting or the ability to demonstrate a clear interest in these activities.
* Experience of the technical requirements or guidance in relation to wider corporate reporting, or the ability to demonstrate a clear interest in wider corporate reporting.
* Excellent understanding of the accounting and reporting regulatory framework in the United Kingdom.
* Appreciation of relevant international accounting and regulatory frameworks.
* Work as part of a team in dealings (technical and other) with significant external parties (both national and international) on behalf of the FRC, leading discussions with peers.
Able to work independently, with limited supervision to meet agreed project deliverables within agreed timetables, whilst keeping more senior staff updated.
A confident and articulate communicator that is able to assimilate, evaluate and develop recommendations to advisory groups.
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