New FRAB chair selected

KATHRYN Cearns has been appointed as the chair of the Financial Reporting Advisory Board (FRAB). Presently, Cearns is a consultant accountant at Herbert Smith LLP and chairs the ICAEW Financial Reporting Committee.

Prior to this, Cearns served as project director to the UK Accounting Standards Board and as a member of the UK Accounting Standards Boar Urgent Issues Task Force. Cearns’ chairmanship will take effect from 4 June. Elwyn Eilledge CBE, chairman to the board since its inception in 1996, will step down.