Appointment details

UK Endorsement Board - Chair

Summary

• Organisation: UK Endorsement Board
• Sponsor department: Department for Business and Trade
• Location: London
• Sectors: Finance and Audit
• Skills: Accountancy, Business, Commercial
• Number of vacancies: 1
• Remuneration: £95000 per annum
• Length of term: Fixed term up to 3 years (with possible reappointment for a period of up to 3 years which may be extended in exceptional circumstances for a period of 12 months)
• Application deadline: 11:59pm on 9 December 2024

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Timeline for this appointment

1. Opening date

   11 November 2024

2. Application deadline

   11:59pm on 9 December 2024

3. Sifting date

   16 December 2024

4. Interviews expected to end on

   13 January 2025

Timeline dates are only an estimate and can change

About the appointment

Introduction from the Minister

Dear Candidate

Thank you for your interest in joining the Board of the UK Accounting Standards Endorsement Board (UKEB).

You may already have some understanding of the important work of the UKEB and this pack will tell you more about the purpose and the nature of the role.

The UKEB influences, endorses and adopts new or amended international accounting standards issued by the International Accounting Standards Board for use by UK companies. It also consults publicly with stakeholders that have an interest in financial reporting in the UK so that it can develop and represent evidence-based UK views with the aim of acting as the UK voice on IFRS financial reporting.

The new Chair will have the opportunity to influence the UKEB’s vision and strategy. They will also play a key role in continuing to build the profile of the Board and overseeing connectivity with sustainability reporting standards as they are introduced and engage with the Government's work on the creation of ARGA and the audit reform and corporate governance legislation.  

If you believe you have the experience and qualities we are seeking to contribute to this important organisation, we very much look forward to hearing from you.

We welcome applications from individuals of all backgrounds, including those from under-represented groups.

Justin Madders MP

Minister for Business and Trade

Appointment description

  

The UKEB Board represents the best available combination of technical skills and background experience of relevant business and economic conditions to contribute to the development of high quality, global financial reporting standards.

We are seeking a new Board Chair to lead the Board and the wider organisation as it embarks upon the next phase of its maturity. The Chair is responsible for:

• leading the UKEB Board, ensuring effective strategic planning and execution and robust and transparent decision-making, and that all Board members have the opportunity to contribute their views.
• executive management and leadership of the UKEB Secretariat.
• contributing, at a technical accounting level, to international debate on the development of high-quality international accounting standards, ensuring that UK stakeholders’ views are heard, and encouraging and enabling board members and secretariat to do likewise.
• managing relationships with key stakeholders, including DBT and the Financial Reporting Council (FRC).
• being accountable to the Secretary of State for Business and Trade for the UKEB’s technical decisions, and to the FRC Board for the UKEB’s governance and due process.
• directing and managing the organisation’s activities and ensuring they are transparent and operate in the public interest. This will include chairing public Board meetings.
• setting the culture of the organisation, aligned to the UKEB’s four guiding principles: transparency, accountability, independence and thought leadership.
• ensuring that due process is followed, with wide-ranging consultation to obtain appropriate information to make objective, informed decisions.

Organisation description

About UK Endorsement Board

The UKEB was established to serve the UK public interest, by contributing to the research and development of high-quality international accounting standards suitable for UK adoption. The UKEB is committed to upholding the high quality of IFRS accounting standards and building on the UK’s position as a leading financial centre, guided by the key principles of accountability, independence, transparency and thought leadership.

The UKEB was established in March 2021 and was delegated statutory powers by the Secretary of State for Business, Energy and Industrial Strategy (BEIS) in May 2021. Following the dissolution of BEIS in February 2023, the Secretary of State for Business and Trade now has oversight responsibility in respect of UKEB’s technical work. The Financial Reporting Council has oversight responsibility in respect of UKEB’s governance and due process procedures.

The UKEB is an independent decision-making body. It needs to be driven by a Board which is not only technically strong, but which is credible in accounting standard-setting circles globally and is able to engage effectively with the international accounting community through its Independent Board Members. This is particularly salient in a potentially uncertain economic environment, as is the ability to promote the UK’s views and interests in a global sphere with clarity, integrity and commitment.

The Board is responsible for: 

• influencing the development of IFRS accounting standards. The UKEB will contribute to debates on all IASB projects, consult with UK stakeholders to obtain their views and highlight any concerns to the IASB at every stage of their project, including the development of its agenda and post-implementation reviews.
• following the process for the endorsement and adoption of IFRS accounting standards specified in legislation. The UKEB will decide on whether to adopt IFRS accounting standards for application by UK companies.
• providing thought-leadership. The UKEB will undertake research and contribute to the development of financial reporting internationally. It will also undertake to inform and educate UK and international stakeholders on developments in financial reporting.
• complying, at all times, with the UKEB’s four guiding principles of transparency, accountability, independence and thought leadership.

Board members are subject to the Cabinet Office’s Code of Conduct for Board Members of Public Bodies and the requirement to understand and comply with these principles underpins this process.

https://www.gov.uk/government/publications/board-members-of-public-bodies-code-of-conduct

The UKEB Chair may not be:

• an officer of the accountancy or actuarial professional bodies regulated by the FRC.
• currently employed by the UK government or FCA and PRA.
• currently employed by the FRC or a member of the FRC Board or its committees or advisory panels.
• practicing auditors or a person who is currently:
• carrying out statutory audits;
• holding voting rights in an audit firm;
• a partner or employee of an audit firm; or
• a member of the administrative, management or supervisory body of an audit firm.
• currently personally contracted to provide services to an audit firm.

Board composition

The UK Endorsement Board currently comprises the following individuals:

Pauline Wallace, Executive Chair

Preparers

Phil Aspin, Non-Executive Member

Owen Glaysher, Non-Executive Member

Investors/Users

Edward Knapp, Non-Executive Member

Paul Lee, Non-Executive Member

Liz Murrall, Non-Executive Member

Accounting Firms

Tony Clifford, Non-Executive Member

Giles Mullins, Non-Executive Member

Sandra Thompson, Non-Executive Member

Academics

Amir Amel-Zadeh, Non-Executive Member

Michael Wells, Non-Executive Member

Economist

Robin Cohen, Non-Executive Member

Other

Mike Ashley, Non-Executive Member

Kathryn Coates, Non-Executive Member

The full list of members and their biographies is published at: https://www.endorsement-board.uk/about-us/ukeb-board

Person specification

Essential criteria

• A proven record of excellence in financial reporting and an understanding of the significance of IFRS to the UK capital markets.
• The ability to develop an effective Board and provide leadership through periods of significant change.
• Proven track record of influencing and communication skills, including the ability to encourage debate and challenge, and resolve conflict in a constructive manner.
• An effective leader able to represent the UK’s views with credibility and integrity and clearly articulate the rationale for decisions to a wide range of stakeholders.
• The ability to offer up potential solutions for further debate and to synthesise views in order to come to a decision.

Desirable criteria

• Previous experience of operating at Board level, ideally as a Chair, or equivalent. 

Application and selection process

How to apply

If you wish to apply for this position, please supply the following: 

• Comprehensive CV setting out your career history, with responsibilities and achievements.
• Covering letter (maximum two sides of A4) highlighting your suitability and setting out how you meet the person specification. Please note that the covering letter is an important part of your application and is as much the means by which you will be assessed as your CV. 
• Candidate Self-Declaration Form
• Disability Confident Form
• Diversity Monitoring Form - Your Diversity Monitoring Form will be stored separately from your application and will play no part in the selection process.

The preferred method of application is to submit your application documents online at: https://www.hays.co.uk/job-detail/chair---uk-endorsement-board-london_4625809?q=Chair&applyId=JOB_5272808&jobSource=&isSponsored=Y&specialismId=AccFin&subSpecialismId=SeniorFinanceQualified&jobName=projects%2Fmineral-balm-174308%2Ftenants%2Fab5d683d-f9a5-4b85-bfe0-eb74881e24cf%2Fjobs%2F77368098469880518&lang=en

For more information or to apply, please contact Andrew Timlin (andrew.timlin@hays.com) or Owen Quant (owen.quant@hays.com)

We are committed to ensuring everyone can access our website and application processes. This includes people with sight loss, hearing, mobility and cognitive impairments. Should you require access to these documents in alternative formats, please contact Andrew Timlin (andrew.timlin@hays.co) or Owen Quant (owen.quant@hays.com).

If you unable to apply online please email: Andrew Timlin (andrew.timlin@hays.com) or Owen Quant (owen.quant@hays.com).

The Advisory Assessment Panel reserves the right to only consider applications that contain all of the elements listed above, and that arrive before the published deadline for applications.

Overview of the application process

This role is not regulated by the Office for the Commissioner of Public Appointments (OCPA). The appointment will be made on merit following a fair and open competition process in accordance with the Public Sector Equality Duty (PSED). Ministers are responsible and accountable to Parliament. The final appointment will be made by the Secretary of State. 

The assessment process is conducted via a shortlisting process against the criteria followed by an interview conducted by an Advisory Assessment Panel. The role of the Panel is to decide, objectively, which candidates meet the eligibility criteria for the role. 

If you have applied under the Disability Confident Scheme and meet all the essential criteria, then you will be invited for an interview. 

If invited for interview you will be asked questions about your skills and experience, including asking specific questions about whether you meet the criteria set out for the roles. The Panel will also explore with you any potential conflicts of interest or any other issues arising from your personal and professional history which may impact on an appointment decision. 

We will deal with your application as quickly as possible and will keep you informed at key stages. Please note however, that we are unable to provide detailed feedback on applications at longlist stage. 

Once the decision on the appointment has been made, interviewed candidates will be advised of the outcome of their application, including whom they may approach for feedback. Successful candidates will be issued with their Terms & Conditions and a letter of appointment should they agree to take up the position.

Further information about appointments, including tips on applying for a public or direct appointment, can be found on the Cabinet Office's guidance pages on gov.uk.

Advisory Assessment Panel (AAP)

The Advisory Assessment Panel for this campaign will comprise of: 

• Eoin Parker, Director, Company, Law and Governance, Department for Business and Trade - Panel Chair
• Richard Moriarty, Chief Executive Officer (CEO), Financial Reporting Council (FRC) 
• Kate Mathers, National Audit Office (NAO) - Independent Panel Member (IPM)

Advisory Assessment Panels (AAP) are chosen by ministers to assist them in their decision-making. These include a departmental official and an independent member. For competitions recruiting non-executive members of a board (apart from the Chair), the panel will usually include a representative from the public body concerned.

AAP’s perform a number of functions, including agreeing an assessment strategy with ministers, undertaking sifting, carrying out interviews in line with the advertised criteria and deciding objectively who meets the published selection criteria for the role before recommending to ministers which candidates they find appointable. It is then for the minister to decide who to appoint to the role.

Eligibility criteria

In general, you should have the right to work in the UK to be eligible to apply for a public or non-executive appointment.

There are a small number of specialist roles that are not open to non-British citizens. Any nationality requirements will be specified in the vacancy details.

The Government expects all holders of public office to work to the highest personal and professional standards.

You cannot be considered for a public appointment if:

• you are disqualified from acting as a company director (under the Company Directors Disqualification Act 1986);
• have an unspent conviction on your criminal record;
• your estate has been sequestrated in Scotland or you enter into a debt arrangement programme under Part 1 of the Debt Arrangement and Attachment (Scotland) Act 2002 (asp 17) as the debtor or have, under Scots law, granted a trust deed for creditors.

When you apply, you should declare if:

• you are, or have been, bankrupt or you have made an arrangement with a creditor at any point, including the dates of this.
• you are subject to a current police investigation.

You must inform the Department for Business and Trade, the sponsor department if, during the application process, your circumstances change in respect of any of the above points.

When you apply you should also declare any relevant interests, highlighting any that you think may call into question your ability to properly discharge the responsibilities of the role you are applying for. You should also declare any other matters which may mean you may not be able to meet the requirements of the Code of Conduct of Board Members (see Outside interests and reputational issues section below). 

If you need further advice, please contact either Andrew Timlin (andrew.timlin@hays.com) or Owen Quant (owen.quant@hays.com).

Security clearance

The successful candidate will be required to undertake Baseline Personnel Security Standard (BPSS) checks in line with the Civil Service guidelines. Further information on National Security Vetting can be found on the Gov.uk website here.

Additional information for candidates

Equality and diversity

We encourage applications from talented individuals from all backgrounds and across the whole of the United Kingdom. Boards of public bodies are most effective when they reflect the diversity of views of the society they serve and this is an important part of the Government’s agenda.

We collect data about applicants’ characteristics and backgrounds, including information about people’s educational and professional backgrounds, so that we can make sure we are attracting a broad range of people to these roles and that our selection processes are fair for everyone. Without this information, it makes it difficult to see if our outreach is working, if the application process is having an unfair impact on certain groups and whether changes are making a positive difference.

When you submit your application, your responses will be collected by Hays and shared with the UK Endorsement Board and the Department for Business and Trade. The data is used to produce management information about the diversity of applicants. You can select “prefer not to say” to any question you do not wish to answer. The information you provide will not be seen by the Advisory Assessment Panel who review applications against the advertised criteria and conduct interviews.

Disability confident

We are a member of the Government's Disability Confident scheme. We use the Disability Confident scheme symbol, along with other like-minded employers, to show our commitment to good practice in employing people with a disability. The scheme helps recruit and retain disabled people. 

As part of implementing the scheme, we guarantee an interview for anyone with a disability whose application meets the essential criteria for the role, set out in the advert, and who has asked that their application is considered under the scheme. Indicating that you wish your application to be considered under the scheme will in no way prejudice your application. By 'minimum critiera', we mean that you must provide evidence which demonstrates that you meet the level of competence required under each of the essential criteria, as set out in the job-advert. 

When you apply you will have the opportunity to select if you would like your application considered under this scheme. 

Reasonable adjustments

We are committed to making reasonable adjustments to make sure applicants with disabilities, physical or mental health conditions, or other needs are not substantially disadvantaged when applying for public appointments. This can include changing the recruitment process to enable people who wish to apply to do so.

Some examples of common changes are:

• ensuring that application forms are available in different or accessible formats;
• making adaptations to interview locations;
• allowing candidates to present their skills and experience in a different way;
• giving additional detailed information on the selection / interview process in advance to allow candidates time to prepare themselves;
• allowing support workers, for example sign language interpreters;
• making provision for support animals to attend.

When you apply you will have the opportunity to request reasonable adjustments to the application process.

Principles of public life

The Seven Principles of Public Life (also known as the Nolan Principles) apply to anyone who works as a public office-holder.

1. Selflessness

Holders of public office should act solely in terms of the public interest.

2. Integrity

Holders of public office must avoid placing themselves under any obligation to people or organisations that might try inappropriately to influence them in their work. They should not act or take decisions in order to gain financial or other material benefits for themselves, their family, or their friends. They must declare and resolve any interests and relationships.

3. Objectivity

Holders of public office must act and take decisions impartially, fairly and on merit, using the best evidence and without discrimination or bias.

4. Accountability

Holders of public office are accountable to the public for their decisions and actions and must submit themselves to the scrutiny necessary to ensure this.

5. Openness

Holders of public office should act and take decisions in an open and transparent manner. Information should not be withheld from the public unless there are clear and lawful reasons for so doing.

6. Honesty

Holders of public office should be truthful.

7. Leadership

Holders of public office should exhibit these principles in their own behaviour and treat others with respect. They should actively promote and robustly support the principles and challenge poor behaviour wherever it occurs.

Code of conduct for board members

The Government expects all holders of public office to work to the highest personal and professional standards. In support of this, all non-executive board members of UK public bodies must abide by the principles set out in the Code of Conduct for Board Members of Public Bodies. The Code sets out the standards expected from those who serve on the boards of UK public bodies and will form part of your terms and conditions of appointment.

Management of outside interests and consideration of reputational issues

Holders of public office are expected to adhere and uphold the Seven Principles of Public Life and the Code of Conduct for Board Members of Public Bodies. Before you apply you should consider carefully: 

• any outside interests that you may have, such as shares you may hold in a company providing services to government; 
• any possible reputational issues arising from your past actions or public statements that you have made; 
• and/or - any political roles you hold or political campaigns you have supported; 

which may call into question your ability to do the role you are applying for.

You will need to answer relevant questions in relation to these points when making an application. Many conflicts of interest can be satisfactorily resolved and declaring a potential conflict does not prevent you from being interviewed. If you are shortlisted for an interview, the panel will discuss any potential conflicts with you during that interview, including any proposals you may have to mitigate them and record that in their advice to ministers. Alongside your own declaration, we will conduct appropriate checks, as part of which we will consider anything in the public domain related to your conduct or professional capacity. This may include searches of previous public statements and social media, blogs or any other publicly available information. The successful candidate(s) may be required to give up any conflicting interests and their other business and financial interests may be published in line with organisational policies. 

Status of appointment

As this is an office holder appointment, you will not become a member of the Civil Service. You will not be subject to the provisions of employment law.

Appointment and tenure of office

The UK Endorsement Board Chair shall be appointed by the Secretary of State, following a fair and open recruitment process, for an initial term of up to three years, renewable for a second term of up to three years which may be extended in exceptional circumstances for a period of 12 months. In exceptional circumstances, an interim Chair may be appointed by the Secretary of State for a term of up to 18 months. 

Any re-appointment is subject to satisfactory annual appraisals of performance during the first term in the post.

There is no automatic presumption of reappointment; each case should be considered on its own merits, taking into account a number of factors including, but not restricted to, the diversity of the current board and its balance of skills and experience. In most cases, the total time served in post will not exceed more than two terms. 

Remuneration, allowances and abatement

The salary is £95,000 for 2.5 days per week (or £190,000 pro rata per annum). 

Remuneration for this role is treated as employment income and will be subject to tax and National Insurance contributions, both of which will be deducted at source under PAYE before you are paid.

You can claim reimbursement for reasonable travel and subsistence costs which are properly and necessarily incurred on official business, in line with the travel and subsistence policy and rates for the organisation to which you are applying. However these payments are taxable as earnings and will be subject to tax and national insurance, both of which will be deducted at source under PAYE before you are paid. 

Pension and redundancy

This is an office holder appointment and does not attract any benefits under any Civil Service Pension Scheme. You will not be eligible for redundancy pay as you are not an employee. No other arrangements have been made for compensation upon the end of your term of appointment because an office holder who is appointed for a limited duration would have no expectation of serving beyond that period.

Application feedback

We will notify you of the status of your application. We regret that we are only able to offer detailed feedback to candidates who have been unsuccessful at the interview stage.

How to complain

We aim to process all applications as quickly as possible and to treat all applicants with courtesy.

Please contact the DBT Public Appointments in the first instance if you would like to make a complaint regarding your application at dbtappointments@businessandtrade.gov.uk. They will acknowledge your complaint upon receipt and respond within 15 working days.

Data protection

For details about how the UK Endorsement Board processes personal data, please view its privacy notice. 

The Department for Business and Trade will also have access to your data. You can view their departmental privacy notice. 

The Cabinet Office will use your data in line with our privacy policy.

Contact details

For further information about these roles please contact the recruitment team at Hays who are managing this recruitment - Andrew Timlin  (andrew.timlin@hays.com) or Owen Quant (owen.quant@hays.com)