The global body for professional accountants

Helen Brand, chief executive of ACCA, said: 'We welcome the appointment of Sir Win Bischoff. His appointment as chairman comes at a time when the FRC is looking to build on the successes of the outgoing chair, Baroness Hogg. The FRC is on the right path to maintaining trust amongst investors in relation to governance, audit and financial reporting activity and ACCA is confident Sir Win Bischoff will continue along that path in his new role. ACCA is keen to continue to work with FRC in that endeavour.

'ACCA thanks Baroness Hogg for putting the investor’s interests at the heart of FRC’s goals. Her leadership in cementing the revised Corporate Governance Code and the updated Stewardship Code are significant FRC achievements during her watch. Perhaps most importantly, Baroness Hogg’s consultative approach has helped to nurture a healthy regulatory landscape.'