The FRC has revealed a series of appointments and restructuring of its newly-created Supervision Division, including that Claire Lindridge will take up the role of director of Audit Market Supervision.
Lindridge has led the AFMAS team as acting director since October 2018 in the latest role of her 14 year career at the FRC.
In addition, Andrew Meek has been appointed director of Audit Firm Supervision, having led the Audit Quality Review as acting director since August 2018. He has also been at the FRC for 14 years, most recently as an inspections director, prior to the acting director role.
Anthony Barrett has also been appointed as the director of Audit Quality Review. He will join the FRC on 1 October and was previously assistant auditor general at the Wales Audit Office.
In that role, Barrett had overall responsibility for leadership and management of the office, including strategy development and operational delivery of all financial and performance audits for around 800 public bodies.
Earlier this year, the FRC announced the creation of a new Supervision division with the aims of:
– Enhancing forward-looking supervision of the largest audit firms alongside an expanded programme of audit inspections/file reviews;
– Building thematic work across firms, addressing both audit quality and audit market resilience; and
– Creating audit firm ‘supervisors’, bringing together in one place functions which are currently split across AQR, AFMAS and (in relation to Constructive Engagement) the Case Examiner.
Implementation of this restructuring programme had been temporarily paused due to Covid-19.
The changes will come into effect on the 5 October 2020.