The UK Department for Business, Enterprise and Regulatory Reform (BERR) published the following press notice this morning.

Gareth Thomas, Parliamentary Under Secretary of State for Trade and Consumer Affairs, has announced today, that he is extending the term of Sir Christopher Hogg as Chair of the Financial Reporting Council by one year.

Gareth Thomas said: "Sir Christopher has done much good work as Chair of the FRC, in particular in putting in place new governance arrangements for the FRC. I have asked him to stay on for an additional year to ensure that the changes are fully bedded down.”

Sir Christopher Hogg’s term as Chair was due to expire on 31 December 2008, but will be extended to 31 December 2009.

1. The Financial Reporting Council (FRC) is the UK's independent regulator responsible for promoting confidence in corporate reporting and governance.
2. The FRC's functions are exercised principally by its operating bodies (the Accounting Standards Board, the Auditing Practices Board, the Board for Actuarial Standards, the Financial Reporting Review Panel, the Professional Oversight Board and the Accountancy & Actuarial Discipline Board) and by the Board. The Committee on Corporate Governance assists the Board in its work on corporate governance.
3. Under the FRC’s new governance arrangements agreed last year, the Chair and Deputy Chair of the FRC Board are appointed by the Government. All other directors are appointed by the FRC Board.
4. All media enquiries should be addressed to Ian Rodger, Head of Communications, +44 (0)20 7492 2395 or email at: i.rodger@frc.org.uk