There has been a shake-up at the accounting regulator as the chairman of the codes and standards committee of the Financial Reporting Council (FRC), Jim Sutcliffe, has quit due to conflicts of interest.

In mid January, Sutcliffe joined the board of insurance outsourcer Quindell and immediately resigned his position at the regulator. 

He will be replaced by Nick Land, former EY chairman and a director of the FRC. Land is chair of the audit and risk committees at Vodafone Group and Alliance Boots, and former chairman of Ernst & Young LLP, which he left in 2006 after a 36-year career.