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UK names former GSK CFO to head accountancy regulator

Reuters - UK Focus
Updated

LONDON, July 10 (Reuters) - Britain's government named the former chief financial officer of drugs company GlaxoSmithKline , Simon Dingemans, to head the Financial Reporting Council (FRC), a body in charge of regulating auditors.

Dingemans joined GSK in 2011 from U.S. investment bank Goldman Sachs, and will face a pre-appointment hearing in front of British lawmakers before he formally takes up his role.

Earlier on Wednesday, the FRC said all Britain's leading accounting firms had failed to hit quality targets for auditing company books for the second year in a row, with Grant Thornton and PwC singled out to join KPMG under tougher supervision. (Reporting by David Milliken; editing by Stephen Addison)