Suffield joins FRC from the National Audit Office (NAO) with a brief to head up its AQR work monitoring the quality of UK audit firms’ with a particular focus on audit quality and standards at public interest and large AIM entities across the FTSE 350.

The FRC has been reshuffling its top team in moves designed to improve its governance and oversight in light of new responsibilities following the introduction of the EU Audit Directive in the UK and to meet the targets and objectives set out in its 2016/19 strategy.

Suffield, who joins the FRC in July, is currently a lead director at the NAO where he is joint head of the compliance and quality unit with responsibility for audit quality arrangements. He has been at the NAO since 1995 but has a background in audit. He trained at Coopers & Lybrand (now PwC) which he joined in 1988.

Melanie McLaren, the FRC’s executive director, audit said: ‘Mike’s experience and knowledge of audit quality issues together with his keen eye on the public interest mean he is well placed to lead our AQR activities as our responsibilities in this area develop.

‘The FRC’s target is for 90% of FTSE 350 audits to require no more than limited improvements by 2019. Mike will be instrumental in achieving this outcome, which is core to our mission to foster investment. New audit inspection rules due in June 2016 mean the FRC will monitor the work of a larger number of audit firms with public interest entity clients.’

McLaren, who previously headed up codes and standards, took on the role as executive director of audit at the end of last year.

At the same time, Paul George moved from being executive director of conduct to become executive director of governance and corporate reporting, with a remit to drive activity around the regulator’s new responsibilities as the UK’s competent authority following changes to audit rules due to come into force from 17 June 2016, which will extend its audit inspection remit.