Independent Professional Academic Board Member - Financial Reporting Advisory Board

Body: Financial Reporting Advisory Board (FRAB)
Appointing Department: HM Treasury
Sectors: Business, Finance & Skills, Education
Location: London - HM Treasury
Skills required: Accountancy
Number of Vacancies: 1
Remuneration: No
Time Requirements: The expected time commitment of the role is to attend 3 regular meetings per year (in March, June and November and usually the third Thursday of the month) plus any additional occasional meetings as needed. Members are also expected to contribute to occasional out of meeting communications on an ad hoc basis throughout the year.

This is not a ministerial appointment.

Campaign Timeline

  • Competition Launched

    07/09/2021

  • Closed for Applications

    05/10/2021

  • Panel Sift

    11/10/2021

  • Final Interview Date

    20/10/2021

  • Announcement

    TBC

Vacancy Description

  1. HM Treasury invites applications for an independent professional academic 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 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.

It includes representatives from the finance and accountancy profession in the private and public sectors, academia and government bodies.

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).

The Role of the FRAB Member

As a member of the Board, we are looking for you to draw on your knowledge, skill set and expertise, to play a full part in the Board’s deliberations on issues of financial reporting practice and principle. In doing so, you will enable the Board to formulate the best possible advice to the Treasury and the other Relevant Authorities on the most appropriate application of financial reporting practice in the public sector.

Person Specification

We would like you to demonstrate the following essential criteria:

  • You are a professional academic (or retired) with relevant accounting or economics experience;
  • 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;
  • Evidence of being a qualified accountant (CCAB or equivalent), with evidence of strong IFRS knowledge and application.

Desirable:

  • An understanding of the UK public spending and reporting environment and importance of FRAB.

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 abilities that generate trust and confidence in others.

HM Treasury has a strong dedication to equality and diversity and applications from people with diverse group of 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.

Additional Information

The appointment will be for a period of 3 years, with a possibility of renewal.

How to Apply

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 at:

FRABsecretariat@hmtreasury.gov.uk

Please also send the following with your application:

  • Completed Disability Confident Scheme, Political Activity and Conflict of Interest questionnaire
  • 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.

Please be aware that HM Treasury may undertake some social media checks and other vetting prior to interview.

The application deadline is 11pm on the 5th October 2021.

Interviews are to be held on 20th October 2021. 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 encouraged to attend the Financial Reporting Advisory Board meeting on Thursday 18th November 2021.

 

Attachments
Diversity-monitoring-form-accessible - New NON OCPA form (1) (1)
Independent professional academic member Board pack - Autumn 2021
Disability Confident-Conflicts-and-Political activity-2020-1 FRAB

This post is NOT regulated by The Commissioner for Public Appointments.

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