These bodies are responsible for advising the FRC Board on financial reporting standards, monitoring international financial reporting developments while also providing strategic input and thought leadership in the field of financial reporting.

The new appointees bring a wide range of experience and perspectives, including investor, corporate and adviser views.

The new Accounting Council members are:

• Michael Gallagher, CFO of Toronto and Falcon Oil & Gas; 
• Mark Smith, independent financial reporting consultant; and
• Jeremy Townsend, CFO and chief information officer at Rentokil Initial.

The new Audit & Assurance Council members are:

• Maggie McGhee, director general responsible for financial audit, National Audit Office;
• Jane Fuller, fellow of the CFA Society of the UK and chair of its financial reporting and analysis committee;
• Robert Hingley, former director general of the Takeover Panel and, following the merger of ABI’s Investment Affairs with the IMA, consultant to the enlarged Investment Association; and
• Conall O'Halloran, head of audit for KPMG in Ireland, and audit partner in a number of listed and large privately owned entities.

In addition, the FRC has appointed Liz Murrall to its codes and standards committee. She is already a member of the Accounting Council.

Stephen Haddrill, CEO of the FRC said: ‘We are delighted to welcome all the new members to the Accounting Council and the Audit and Assurance Council. Each of these councils has an integral role within the FRC in upholding high quality corporate governance and reporting to foster investment.’