Question to the Department for Business, Energy and Industrial Strategy:

To ask Her Majesty's Government when the members of the UK International Financial Reporting Standards Endorsement Board will be announced.

The UK Endorsement Board for international accounting standards is currently being established. It will consist of between 11 and 13 Board members plus the Chair. The Chair will be appointed by my rt. hon. Friend the Secretary of State, following the public appointments process, while the remaining Board members will be appointed by the Chair from a short list provided by the FRC Nominations Committee. The Committee will be required to follow the recommendations on diversity made in the Independent Review of the FRC and the Secretary of State will retain a veto over any of the appointments. All posts will follow an open and transparent recruitment process.

Preliminary work for appointing the Chair and Board members has begun. We expect a Chair to be in place by the end of 2019, with an announcement shortly before. The remaining Board members are expected to be announced in early 2020.