Dame Jayne-Anne Gadhia, who is set to become the next chair of the Financial Reporting Council (FRC) in September, sits on the board of Innovo Group, a company currently under criminal investigation in the UAE.
The government named Dame Jayne-Anne as the incoming chair last month. She was appointed as a director to the real estate development firm Innovo Group on 1 January 2026.
Innovo Group disclosed at the High Court in June that individuals and entities associated with it are under criminal investigation in the UAE. Dame Jayne-Anne Gadhia is not the subject of any legal proceedings.
The Parliamentary business and trade committee had questioned Dame Jayne-Anne about her workload, as she holds seven other board and chair positions in addition to the FRC role. The committee concluded she had the necessary competence and qualifications but did not explicitly recommend her.
Dame Jayne-Anne stated that the matters referred to substantially predate her appointment to the Innovo board and that her directorship was fully disclosed during the FRC appointment process. An FRC spokesperson said her external appointments and interests have been appropriately disclosed.