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Financial Reporting Council Independent Review: Costs

Question for Department for Business, Energy and Industrial Strategy

UIN 158766, tabled on 28 June 2018

To ask the Secretary of State for Business, Energy and Industrial Strategy, what estimate he has made of the cost to the public purse of the independent review of the Financial Reporting Council.

Answered on

3 July 2018

Sir John Kingman asked not to receive a fee for his role undertaking the independent Review of the Financial Reporting Council. Members of the Review’s Advisory Group are also not remunerated for their involvement.

The Review’s Secretariat is currently made up of 5.2 full time equivalent civil servants (receiving public sector pay) with the view that this will increase to 6.2 once a vacancy has been filled. The Secretariat also includes one secondee whose salary is met by Legal & General. It is estimated that the costs of the Review will amount to approximately £210,000. This includes forecasted staff costs for the Secretariat, printing and travel and subsistence.

Answered by

Department for Business, Energy and Industrial Strategy
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