Rapson succeeds David Rule, who is returning to the Prudential Regulation Authority after the completion of his two year secondment at the FRC.
She will be responsible for the FRC’s audit quality reviews, corporate reporting reviews, audit firm supervision, audit market supervision and professional oversight teams.
Rapson said: “I am very much looking forward to working with Jon and the whole team at the FRC, a key partner organisation of the FCA, as it continues its transformation journey to becoming a new regulator, ARGA.
“The FRC’s work in driving improvements in audit quality and corporate reporting has never been more important for its stakeholders post Brexit and pandemic and I am looking forward to playing my part in its success.”
Sir Jon Thompson, CEO, FRC, added: “Sarah brings a wealth of experience to the FRC which will be invaluable as we transform to ARGA as well as further strengthening cross-regulatory ties. I am very much looking forward to working with her during this important time for the FRC.”