The governance structure of PwC Ireland is made up of four main elements; the Managing Partner, the Territory Leadership Team, the Committee of the Board and the Public Interest Board.
The Managing Partner is elected by the partners for a four-year term after which he or she may be re-elected for a further term of four years. Our current Managing Partner is Feargal O’Rourke. He took office in July 2015. He is responsible for the leadership and strategic direction of the Firm and its role in PwC’s global network.
The Territory Leadership Team is responsible for developing and implementing the policies and strategy of the Firm, and for its direction and management. The Territory Leadership Team also takes overall responsibility for the systems of internal control (which include controls relating to quality) and for reviewing and evaluating their effectiveness.
The members of the Territory Leadership Team are appointed by the Firm’s Managing Partner.
The members of the Territory Leadership Team:
The Committee of the Board, which is independent of the TLT, is elected by the partners for a four-year term. The Committee of the Board meets at least four times each year and meetings are attended by the Managing Partner, as an ex officio member. The Committee of the Board provides the Managing Partner with guidance on matters of actual or potential concern to the partners, including national, legal, regulatory and fiscal issues and requirements impacting or potentially impacting the Irish Firm and its business. It is also responsible for overseeing the process for nominating and electing the Managing Partner.
The members of the Committee of the Board:
The Public Interest Board was established in 2013 in accordance with the principles set out in the Irish Audit Firm Governance Code, issued by CARB in June 2012. The PIB’s purpose is to enhance stakeholder confidence in the public interest aspects of the Firm’s activities through the involvement of Independent Non-Executives.
The PIB at present comprises three Independent Non-Executives, the Managing Partner and the Chairman of the Committee of the Board.
The current Independent Non-Executives are:
Terms of reference for the Public Interest Board can be found here.
The PwC Audit Quality and Transparency Report 2014 can be found here.