Former Virgin Money boss and prominent businesswoman Dame Jayne-Anne Gadhia has been announced as the Government’s pick to chair the UK’s auditing watchdog. <\/p>\n
Business and Trade Secretary Peter Kyle chose her as the preferred candidate for chair of the Financial Reporting Council (FRC), which regulates auditing and accountancy firms. <\/p>\n
If confirmed, she would succeed Sir Jan du Plessis who steps down at the end of September. <\/p>\n
Dame Jayne-Anne was the chief executive of Virgin Money from 2007 until 2018 where she led the acquisition of Northern Rock after it was nationalised during the financial crisis. <\/p>\n
She briefly headed up Salesforce in 2019 before stepping down to focus on growing Snoop, a budgeting app founded by the businesswoman and sold to specialist bank Vanquis in 2023. <\/p>\n
She also holds a series of non-executive roles including within HM Revenue & Customs (HMRC), Shakespeare’s Globe, the Tate and energy supplier Ovo. <\/p>\n
Mr Kyle said Dame Jayne-Anne was “perfectly placed to lead the FRC at this important time and I look forward to working with her to boost confidence in British businesses”. <\/p>\n
Dame Jayne-Anne said she was “honoured to be appointed chair of the FRC at such an important time for the organisation and for the UK economy”. <\/p>\n
The FRC has led major investigations in recent years such as into EY’s auditing of collapsed high street travel agent Thomas Cook, and KPMG’s auditing of collapsed outsourcing firm Carillion. <\/p>\n
It is currently probing PwC over its auditing of WH Smith in the wake of a damaging accounting scandal in the retailer’s US division. <\/p>\n
The appointment also comes after the Government ditched plans in January to establish a new regulator, the Audit, Reporting and Governance Authority, which was set to replace the FRC and have greater powers to tackle poor financial reporting. <\/p>\n
But the FRC says it has transformed significantly under the outgoing chair and become a more focused, transparent and proportionate regulator. <\/p>\n
Dame Jayne-Anne’s appointment will be scrutinised at a Business and Trade Committee session on Tuesday. <\/p>\n","protected":false},"excerpt":{"rendered":"Former Virgin Money boss and prominent businesswoman Dame Jayne-Anne Gadhia has been announced as the Government’s pick to…\n","protected":false},"author":2,"featured_media":82043,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[4],"tags":[36279,36278,36275,36273,36274,36277,36276,2965,5,6,22104],"class_list":["post-82042","post","type-post","status-publish","format-standard","has-post-thumbnail","category-uk","tag-auditing","tag-dame-jayne-anne","tag-dame-jayne-anne-gadhia","tag-financial-reporting-council","tag-frc","tag-jan-du-plessis","tag-outgoing-chair","tag-peter-kyle","tag-uk","tag-united-kingdom","tag-virgin-money"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116912648580778179","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/82042","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=82042"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/82042\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/82043"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=82042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=82042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=82042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}