Financial Reporting Council
Forensic Accountant
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About the FRC
The Financial Reporting Council (FRC) mission is to serve the public interest by setting high standards of corporate governance, reporting and audit and holding to account those responsible for delivering them. We are the UK Competent Authority for audit. We also set the UK Corporate Governance and Stewardship Codes as well as UK standards for accounting, auditing and actuarial work, and monitor and take action to promote the quality of corporate reporting and operate independent enforcement arrangements for accountants and actuaries. Further information about our role can be found at www.frc.org.uk.
The FRC’s Enforcement Division
The FRC’s Enforcement Division is the independent disciplinary body for the accountancy and actuarial professions in the UK. It undertakes complex professional disciplinary investigations and prosecutions in cases involving accountants, accountancy firms and actuaries which raise important issues affecting the public interest in the UK.
Many of the investigations are large, complex, and high-profile and our cases regularly require liaison with other investigators including the Serious Fraud Office, the Financial Conduct Authority, the Insolvency Service, and the Pensions Regulator. Examples of our recent case outcomes can be found here.
More information on the work of the Division can be found in our Annual Enforcement Review.
The Role
The role involves assisting in the investigation of breaches of regulations and potential misconduct on the part of accountants, accountancy firms or actuaries.
Responsibilities
Casework:
- Working with minimal supervision as the most senior financial investigator on small and medium sized complex investigations, and supporting Senior Forensic Accountants on the largest and most complex investigations.
- Determining the avenues of enquiry; using expertise to identify sources of evidence and requesting provision of documentation and information. On larger cases, working with Senior Forensic Accountants in undertaking these tasks.
- Using forensic skills to determine the approach to the review and analysis of all material obtained, including prior experience in the use of electronic review platforms.
- Undertaking personally significant or complex areas of an investigation.
- Identifying and working with internal experts to clarify relevant accounting, audit, actuarial or professional standards, and ensuring the case team has a thorough understanding of technical issues.
- Exercising moderate to high degree of judgement in different areas of casework, including identifying and prioritising key issues, and considering issues which have an impact beyond the immediate case.
- Preparing and conducting disciplinary interviews with subject partners and external lawyers. On larger cases, working with Senior Forensic Accountants in undertaking these tasks.
- Preparing an objective report of investigation findings to form the basis of instructions to the expert and external counsel and of further action on the case. On larger cases, working with Senior Forensic Accountants in undertaking these tasks.
- Agreeing and meeting deadlines for investigation work and working with the case lawyer to meet deadlines for the case as a whole.
- Working with the case lawyer in liaising with other regulators in sharing information.
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Other accountabilities:
- Identifying areas where processes and best practice for investigations can be improved and developed and working with Senior Forensic Accountants, Director of Forensic Accounting and Enforcement Division management in agreeing and implementing these.
- Managing own time efficiently and prioritising tasks across multiple cases and non-casework as necessary.
- Liaising with the wider FRC in sharing relevant information on Enforcement and investigative issues.
- Working with the Director of Forensic Accounting to recruit forensic accountants.
- Working with the Director of Forensic Accounting in the coaching and development of forensic accountants in technical matters and forensic skills.
- Moderate degree of involvement in broader divisional management, such as leading or supporting additional projects within the Enforcement Division and/or supporting projects or groups with the wider FRC.
The Person
The role requires a very high degree of specialist skill and expertise. Individuals holding this position are expected to operate with minimal supervision on small and medium sized complex cases; support Senior Forensic Accountants on the largest and most complex cases; exercise a moderate degree of judgement in different areas of casework; and take sole responsibility for the accuracy and quality of the work product.
Ideal Candidate Attributes:
- Qualified accountant with significant experience and expertise in forensic investigation (indicatively, 6-12 years of directly relevant experience).
- Expertise in conducting, or leading individual workstreams of, complex financial investigations involving review and analysis of high volumes of material and complex financial data.
- Skilled in identifying sources of evidence and determining the approach to the review of material, including experience in the use of electronic review platforms.
- Skilled in planning and conducting technical interviews of senior individuals.
- Skilled in being able to marshal unfamiliar and complex financial concepts and expertise (written and oral) in communicating the results of investigation to a non-accounting audience.
- Good understanding of the requirements of a regulatory disciplinary process.
- Good understanding of audit.
- Experience of and skill in staff supervision, coaching and development on technical matters and forensic skills.
- Expertise in being able to identify and prioritise key issues, and recognise valuable lines of enquiry.
- Ability to remain calm and act in a professional manner at all times.
- Determination and self-motivation to pursue complex and difficult cases, and ability to prioritise tasks across multiple cases.
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The Forensic Accountant Level 4 position at the FRC is one which develops over time with increasing levels of responsibility in the handling of cases, and involvement in larger and more complex cases commensurate with the individual’s increasing experience and skill.
In terms of forensic accounting and investigation issues, the Forensic Accountant is the member of the case team with the greatest expertise on small and medium sized complex cases and will take responsibility for the investigation work, including management of any junior investigative and support resource assigned to the case. On the largest and most complex cases, the Forensic Accountant will be expected to be a valuable sounding board for the Senior Forensic Accountant and Director of Forensic Accounting.
Application Process
Please apply by uploading a copy of your CV and covering letter as a single document upload. In the covering letter, please set out, by reference to the person specification above, how you meet the required skillset.
Rewards and Benefits
The FRC offers remuneration packages, including:
- 30 days annual leave
- Ability to buy extra leave
- Generous employer pension contribution of 10%
- Staff Employee Assistance Programme including confidential counselling and work life services
- Opportunity to save at least 25% on the purchase of a new bike through the Cycle to work scheme
The FRC has a strong work/life balance ethos.
Equality and Diversity
The FRC believes that equality of opportunity and diversity is important in the work that we do and we are strongly committed to being an inclusive employer. Our values of being fair and independent supports this commitment. Equal opportunities monitoring is an important means of demonstrating and implementing our commitment to promoting equality of opportunity and diversity. Completing our 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 FRC operates a hybrid working arrangement, with an expectation that 40% per month of a person's working time will be located at one of our offices, with precise arrangements to be agreed between the employee and the line manager.
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