Hitchins was previously a partner at PwC for 26 years but retired in 2014. He specialised in bank auditing and advisory services and also led the PwC network’s global IFRS technical group.

He has also served as a member of the FCA practitioner and markets practitioner panels and as chairman of the ICAEW’s banking committee. He is currently the chair of the audit committee at Aldermore Group PLC.

David Childs, chair of the FRC’s Conduct Committee said: ‘John’s lengthy experience, knowledge of the profession and pragmatic approach, will help the panel continue to delivery high quality work and appropriate judgements. I am very grateful to Ian Wright, who stepped down as Deputy Chairman, for his excellent work over many years and I wish him well for the future.’

Hitchins takes over from Ian Wright who was also previously former director of corporate reporting at FRC.

As deputy chair, Hitchin’s will also be a member of the Corporate Reporting Review Committee, which has an active role in helping to ensure that the delivery of financial information by public and large private companies complies with relevant reporting requirements.