The Financial Reporting Council has reportedly been forced to delay the planned appointment of Keith Skeoch as its new interim chair.
The first announcement of Skeoch’s new role came in August, when it was revealed that he would take up the position after the sudden departure of former head, Simon Dingemans in May.
Skecoh had previously served as boss of investment company Standard Life Aberdeen, and has been a non-executive director of the FRC eight years.
It is believed his appointment must now be approved by the treasury before it can officially go ahead.
Reports suggest Skeoch has been asked to leave the board until the issue is resolved. All information referring to Skeoch has also been removed from the FRC website.
A spokeswoman for the Department for Business, Energy, and Industrial Strategy told Sky News: “The day-to-day running of the Financial Reporting Council remains the responsibility of its CEO Sir Jon Thompson.
“We will announce next steps on recruitment of a new chair in due course.”