The Financial Reporting Council (FRC) has announced the appointment of Neil Harris as the FRC’s first director of local audit.
According to the council, Harris will play an “integral role” in establishing a new local audit unit, ahead of the FRC assuming the “systems leader” role for local authority financial reporting and audit, as part of its transition to the Audit, Reporting and Governance Authority (ARGA).
In May 2021, the Government proposed ARGA take on this role in responding to Sir Tony Redmond’s independent review. He will report to Sarah Rapson, the FRC’s executive director of supervision.
Ahead of the FRC becoming the systems leader, the FRC said it continues to work “closely” with the department for levelling up, housing and communities (DLUHC) and other local government stakeholders on next steps.
Rapson said: “Having an effective regulatory framework to sustain high quality, timely and effective financial reporting, governance and audit is of fundamental importance. I am delighted that Neil will be joining the FRC ahead of ARGA becoming the systems seader.
“Neil brings significant local audit experience, and a strong understanding of the complex stakeholder landscape that will be instrumental in addressing many of the Redmond review recommendations.”