Appointment of the skilled person



When the PRA is contracting directly with a skilled person it will itself appoint the skilled person. Where it is considered appropriate for a firm to contract with a skilled person, the PRA may nominate the skilled person or where the firm is asked to propose a skilled person, the PRA will direct the firm to the skilled persons in the relevant lot(s) on the Panel and ask the firm to submit a shortlist of nominees for the PRA to approve. Where the firm is contracting with a skilled person, it remains a firm’s responsibility to assess the individual appropriateness of the skilled person.



To enable the PRA to use its power to appoint a skilled person in line with the European Procurement Directive and the Public Contracts Regulation 2006, a panel of skilled persons (‘the Panel’) has been developed for use by the PRA.


Where the PRA is contracting directly with the skilled person, the PRA will conduct a tender process, where appropriate, to identify the most suitable skilled person. This will include the considerations detailed below. 

Skills, resources and conflicts of interest 


When considering whether to nominate, approve or appoint a skilled person, the PRA will consider the circumstances of the case, including whether the proposed skilled person appears to have:

  1. (i) the necessary skills and any relevant specialised knowledge: relating to the business model of the firm and the particular subject matter area;
  2. (ii) sufficient resources: to complete the report or collect or update the information within the time expected by the PRA;
  3. (iii) any professional difficulty, potential conflict of interest, or insufficient detachment: such matters would include:
    1. a. matters already reported on by the skilled person (for example, on the financial statements of a firm or in relation to their systems and controls);
    2. b. matters that are likely to be contentious and may result in disciplinary or other enforcement action against a firm, its management, shareholders or controllers; or
    3. c. matters that the skilled person has been involved in, in another capacity (for example, when a skilled person has been involved in developing an information system it may not be appropriate for them to provide a subsequent opinion on the adequacy of the system).