The Audit Commission has announced that it has appointed a new chief executive to replace Sir Andrew Foster.

Steve Bundred was confirmed as the new finance watchdog and will take up the position in September.

Bundred, a former chief of Camden Council, is head of the Improvement and Development Agency and a board member of the Higher Education Funding Council.

As chief executive of the Audit Commission, he sits in charge of auditors with jurisdiction over public services accounts.

"We are all delighted that Steve is joining us," said commission chairman James Strachan.

"He has a great track record, with his impressive transformation of Camden and his work in higher education.

"He is that rare combination of a superb intellect and with focused ability to deliver.

"This will serve our cause of improving public services extremely well."