HM Treasury invites applications for an independent member to join the
Financial Reporting Advisory Board, (FRAB).
FRAB is an independent statutory body that provides advice to HM Treasury on
financial reporting policy in the public sector.
We are looking for applications from a senior level of the finance profession.
This is a voluntary role and receives no remuneration however, reasonable
travel expenses are reimbursed.
Board meetings are held three times per year, in March, June and November with
occasional additional meetings as needed.
Role of the Financial Reporting Advisory Board
The role of FRAB, is to ensure that government financial reporting meets the
best possible standards by following International Financial Reporting
Standards (IFRS) as far as possible.
The Board was originally set up in 1996 following the publication of the July
1995 White Paper Better Accounting for Taxpayer s Money where t
government announced its plan to establish the Financial Reporting Advisory
It includes representatives from the finance and accountancy profession in the
private and public sectors, academia and government bodies.
In 2000 the Government Resources and Accounts Act set out that the Treasury
shall consult a group of appropriate people to advise on financial reporting
and standards. This role is fulfilled by FRAB and put the existence of the
Board on to a more formal footing.
The Board considers proposed changes to policy and practice. Where changes to
IFRS are agreed, the Treasury is responsible for publishing them (the relevant
document is the Government Financial Reporting Manual (FReM).
Each year the Board produces a report of their activities throughout the year.
This report is laid before Parliament.
The Role of the FRAB Member
As a Board member, you will be required to contribute to the overall success
and effective and efficient operation of FRAB in the following ways
* By regular attendance at FRAB meetings (typically 3 meetings per year)
and work together with other members to ensure the consistency of Board
* Contribute to discussion on out of meeting issues and provide views on
* Draw on your knowledge, skill-set and expertise, to play a full part in
the Board s deliberations on issues of financial reporting practice a
principle, and in the process of formulating advice to the Relevant
* Be objective when considering accounting issues and points of accounting
* Ensure that for issues under debate by FRAB, express opinions clearly,
supported by reasoned analysis
* Adhere to the FRAB Membership Code of Conduct and declare any personal
conflicts of interest related to issues being considered or subject to
the provision of advice.
FRAB member – person specification
We would like you to demonstrate the following essential criteria:
* Evidence of relevant accounting or other public financial management and
reporting experience at a senior executive level
* Evidence of providing effective leadership in an advisory or senior
management role and participation in the formation of policies and
strategies within a large organisation
* Ability to challenge constructively and influence decision making within
a board setting, and
* Evidence that you are a qualified accountant (CCAB or equivalent), with
evidence of strong IFRS knowledge and application.
In addition, an understanding of the UK public spending and reporting
environment and importance of FRAB is desirable.
You will also have personal qualities that show you are committed, and goal
focused with the ability to set clear priorities subscribing relevantly to
board discussions. You will have excellent interpersonal skills that generate
trust and confidence in others.
HM Treasury has a strong dedication to equality and diversity and applications
from people with diverse backgrounds are encouraged.
We will ensure that individuals with disabilities are provided reasonable
accommodation to participate in the application and interview process, provided
you meet the essential criteria for the post. Please confirm on your
application your eligibility for the guaranteed interview scheme.
If you are interested in applying for the role could you, please send a copy of
your CV and a covering letter (with a maximum of 2 pages) outlining what
interests you about the post and how you meet the relevant person specification
requirements to the Secretary to the Board by email via the button below.
* Completed Disability Confident Scheme, Political Activity and Conflict of
* Completed diversity monitoring form
* Supply details of two referees who may be contacted to provide a
reference or information relating to your application. Details should
include, names, addresses, contact number, email address and occupation.
The application deadline is 11pm Thursday 8th October 2020.
Interviews are to be held on Thursday 22nd October 2020. Please advise on your
application if you unable to attend an interview on this date.
Interviews are expected to take place via a virtual meeting platform and
details of how to access the meeting will be sent to shortlisted candidates.
The successful applicant will be invited to attend the Financial Reporting
Advisory Board meeting on the afternoon of Thursday 19th November 2020.
Show moreShow less
Are you looking to build a career in the project sector and have no or very limited experience? If you...Apply For This Job
No job description is available for this vacancy....Apply For This Job
Due to continued expansion throughout the UK, Aptus Utilities requires two Multi Utility Estimators to join our tendering team, one...Apply For This Job
Think big, create better Are you a Solution Architect passionate about using your skills to make an impact? Are you...Apply For This Job
Seize the emerging possibilities of Analytics, AI and Automation The companies that compete most successfully are those who have data...Apply For This Job