Skeoch, previously a non-executive director at the FRC, will take on the role while the search continues to find a permanent replacement for former chair Simon Dingemans, who stepped down in May.
As of now, Skeoch will serve as interim chair from 12 October for a period of up to six months.
Currently, Skeoch is chair of the Investment Association, and a member of the Takeover Panel.
He was previously CEO of Standard Life Aberdeen plc and CEO of its asset management business, Aberdeen Standard Investments.
Sharma said: “Keith has a wealth of knowledge and experience in his field, and I am delighted to appoint him as interim chair of the Financial Reporting Council while a permanent replacement is sought.”
Skeoch said: “I am pleased to be re-joining the FRC board as interim chair and am looking forward to working with Sir Jon Thompson, the board and all of the FRC as it enters the next phase of its transformation programme to deliver its ambitious reform agenda.”