Top job: Richard Moriarty (pictured) has been named as the new chief exec of the Financial Reporting Council
The accounting watchdog has named its new boss. Richard Moriarty will take over from Sir Jon Thompson at the Financial Reporting Council after five years running the Civil Aviation Authority.
But he inherits the role at a time when the FRC is undergoing a major transformation to prevent repeats of scandals such as the collapses of the outsourcer Carillion and retailer BHS.
The watchdog is set to become the Audit, Reporting and Governance Authority, which will have more powers to hold directors to account.
Moriarty has over 20 years of board level experience, but some have questioned his experience in accounting.
Bob Lyddon at Lyddon Consulting said it was an example of the FRC hiring a ‘regulator-crat’ rather than an expert in the field.
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