Aqr Inspection Leader - Insurance
CurrentAs the UK’s independent audit regulator, the FRC’s Audit Quality Review (AQR) reviews and reports on the quality of audit work carried out by the major audit firms in the UK.James is currently responsible for the FRC's insurance work-stream including the review of listed and unlisted insurers. Prior to this, James managed the AQR’s annual inspections of Deloitte for five years and of PwC for four years. While at the FRC, he has overseen the review of over 160 PIE audits and carried out four FTSE100 reviews jointly with PCAOB. Prior to joining the FRC, James was a partner for 17 years providing audit and business advisory services to a broad spectrum of insurance clients at Lloyd’s, in the London Market and abroad. He also undertook numerous investigations, dispute resolution and expert assignments including:• For Lloyd’s, carried out the Syndicate 604 Loss Review; investigated the accounting systems of Lloyd’s brokers; acted for Lloyd’s at the time of the Lloyd’s litigation; responsible for a significant segment of the Reconstruction and Renewal Project prior to the establishment of Equitas; and project-managed the key action steps required to prepare the Lloyd’s market for the regulatory regime affecting insurance intermediaries from January 2005.• For the PIA, responsible for an investigation into the sufficiency of the remedial action being taken by a major listed financial intermediary in connection with its accounting for client money;• For a Big 4 accounting firm, acted as expert in its successful defence against allegations of defective audit work concerning a highly complex reinsurance program;• For an international oil group, carried out a highly significant fraud investigation into its UK insurance subsidiary; and• For various insurers, carried out an investigation into the accounting systems of HS Weavers and provided expert reports in the recovery of amounts due from reinsurers whose involvement spanned a period of over twenty years.
