Location: London

Programme: Supported Hiring into permanent roles

Start Date: September 2020

Application deadline: 24 May 2020 

Applications are now closed

The Financial Reporting Council (FRC) is excited to partner with Women Returners to launch the FRC Returners Programme, designed to support talented professionals who have taken an extended career break back into the workplace. For the pilot programme, they are offering Supported Hire roles into permanent positions as AQR Inspectors in the Audit Quality Review (AQR) team. 

The FRC understands that returning to work after an extended career break can be challenging, which is why they encourage a strong work-life balance for all staff, promote flexible working and embrace inclusivity.

About the FRC Returners Programme

Programme details:

  • The programme will start in September 2020
  • Successful candidates will be offered permanent contracts
  • Located in FRC’s London offices and working in the London offices of the major UK audit firms
  • Flexible working options are available, including part-time; strong work/life balance ethos 
  • Annual salary will be £85,648 (FTE) with generous employer pension contribution of 10%
  • 30 days annual leave plus bank holidays plus ability to buy extra leave
  • You will receive coaching support from Women Returners to help you transition successfully back in to the workplace
  • You will also receive support from FRC’s internal programme managers and an employee buddy, together with support with updating your skills and knowledge

About the FRC

The FRC is an independent regulator in the UK, responsible for regulating auditors, accountants and actuaries, and setting the UK’s Corporate Governance and Stewardship Codes. They promote transparency and integrity in business. Their work is aimed at investors and others who rely on company reports, audit and high-quality risk management.

The FRC serves the public interest by setting high standards of corporate governance, reporting and audit and by holding to account those responsible for delivering them. As the competent authority for audit in the UK, the FRC sets the UK standards for accounting and actuarial work; monitors and takes action to promote the quality of corporate reporting; and operates independent enforcement arrangements for accountants and actuaries. 

The FRC is committed to promoting equality and diversity in all areas of its work. It is an inclusive employer and values diversity among its employees, supported by its values of being fair and independent. 

The Audit Quality Review (AQR) Team

The FRC is currently undergoing a period of exciting change as it transforms into a fit for purpose, modernday regulator that serves the public interestAs part of this transformation, the AQR team is growing as it prioritises improving audit quality and resilience in the audit market. To support all staff, the FRC is committed to developing their people through training, mentoring and ongoing development.

AQR monitors the quality of listed and major public interest audits undertaken by the major UK audit firms and is a leading international audit regulator, playing a significant role in the promotion and development of audit regulation. Their work covers both inspections of individual audits and reviews of firm-wide arrangements to support audit quality and meet ethical requirements. AQR also periodically undertakes thematic inspections which focus on particular aspects of audit across a sample of audits and firms. 

About the roles

As a member of the AQR team, successful candidates will participate in reviews of the Big 4 and other audit firms dealing with senior partners and staff at those firms.

The role of AQR Inspector provides a unique insight into how the major firms operate and how they are responding to current issues in the profession and the changes in regulatory requirements. Successful candidates will have the satisfaction of being able to influence the practices and procedures of the major audit firms to enhance quality. They will be given responsibility for projects relevant to the regulation of auditors, including: 

  • Leading/ participating in regular meetings and ongoing discussions with audit team members including senior partners for major audits and other projects 
  • Making an assessment of the work carried out on major audits. This includes the appropriateness of judgements made on key audit and accounting issues and the sufficiency and appropriateness of the audit evidence obtained  
  • Communicating findings on the individual audits reviewed to the relevant audit firms and the Audit Committee Chair.  
  • Undertaking firm-wide procedures and thematic inspections. These are wide-ranging in nature and include an assessment of the firms’ processes and audit methodologies and the impact these have on audit quality  
  • Building professional relationships with senior management and engagement teams at the audit firms. [white_space]

Who the FRC is looking for

If you have been a senior audit manager or above in an audit firm with public practice experience and are considering returning to work after an extended career break of at least one year, then the FRC wants to meet you. You should hold an accounting qualification coupled with membership of ICAEW, ACCA, ICAS or ICAI (or equivalent).

You may have taken time out of your career for childcare or eldercare reasons, or to relocate or to work on other opportunities such as volunteering.  During your career break you may have been working on a part-time or freelance basis to fit around your other commitments or you may not have done any paid work for a number of years.

The ideal candidate will have: 

  • Experience of auditing UK listed companies and/ or other major entities 
  • Strong technical auditing and accounting skills (including a good knowledge of IFRS)  
  • Strong analytical skills and the ability to make sound decisions about the significance of issues  
  • Excellent oral communication skills with the confidence and the ability to engage with and, where appropriate, challenge the judgements made by senior partners and engagement teams. The ideal candidate should be able to manage the resolution of sensitive issues and potentially confrontational situations in a constructive and professional manner 
  • Strong written skills with the ability to express issues in a clear, balanced and concise manner 
  • Good level of accuracy and attention to detail.  
  • Effective project management skills with the ability and confidence to lead projects and to work autonomously  
  • Experience of working in highly effective teams and recognises when it is appropriate to consult with /involve others 
  • Strong understanding of the regulatory and audit environment 

Visit the FRC career website and have a look at the video with Andrew Meek (bottom of the page right) to give you a flavour of what the Audit Quality Review team does and insights into the qualities they are looking for.

How to apply

If you meet the eligibility criteria above, please apply by emailing a copy of your CV and covering letter to the FRC Recruitment team at recruitment@frc.org.ukIn the covering letter, please set out, by reference to the person specification above, how you meet the required skillset and confirm that you have the right to work in the UK. 

The closing date for applications is 24 May 2020.

If you have any questions please contact hr@frc.org.uk with ‘FRC Returners Query’ in the subject line .

The FRC believes that equality of opportunity and diversity is important in the work that they do and they are strongly committed to being an inclusive employer. Their values of being fair and independent supports this commitment. They’re a signatory to the Government’s Disability Confident scheme, which means that they guarantee an interview to any disabled candidates entering under the scheme, should they meet the minimum criteria for a role.  

Equal opportunities monitoring is an important means of demonstrating and implementing their commitment to promoting equality of opportunity and diversity. Completing the diversity form will assist the FRC to identify any barriers that prevent access to employment and career development for certain groups of people, and to develop solutions, such as action plans, new policies and practices. The form is completed on a voluntary basis and they strongly encourage all job applicants to complete it.  Complete the Diversity Form here