Head on Accounting and Auditing, Financial Stability Board (FSB).
Richard Thorpe is Financial Stability Board Adviser on Accounting and Auditing, based at the Bank for International Settlements in Basel. He is responsible for accounting, auditing and public disclosure issues and policy. Richard is a UK chartered accountant who has spent over 25 years in financial services regulation. From 1997 to 2012 he was in charge of accounting audit and regulatory reporting policy at the UK Financial Services Authority, covering the banking insurance and securities sectors. During that time he worked on the endorsement of IFRS for use in cross-border offerings in IOSCO; the implementation of IFRS in the EU as a member of CESRfin (now ESMA) and observer at EFRAG; and CESRfin’s assessment of the equivalence of US, Japanese and Canadian GAAP. In prudential regulation, he led the FSA’s work on better engagement with auditors and improved disclosure by banks. He also co-chaired the Basel Committee’s working party that developed an improved definition of regulatory capital under Basel 3, and chaired the IAIS’s subcommittee on accounting and auditing issues. He has been a member for the IASB’s Standards Advisory Council and its Financial Instruments and Insurance Working Groups, and an observer for IOSCO at IFRIC, and was also the FSA observer at the UK Auditing Practices Board.