Governance boards in member ifrms ■ PwC Netherlands has a wholly external oversight All member ifrms are required to have a separate board as required by Dutch legislation local governance body to oversee the performance of the ifrm’s leadership and to provide direction and ■ PwC Italy has an independent director on its audit guidance. While these governance boards have ifrm board traditionally been made up of partners from that ifrm, as with the global board, external people are Transparency increasingly joining these boards or alternatively member ifrms are setting up additional advisory Many PwC member ifrms publish annual transparency bodies made up of external members. We regard reports disclosing information relating to their legal this as good practice and are encouraging its structure and ownership, governance structure, internal wider adoption across the member ifrms in the quality management systems, quality assurance, PwC network. For example, the majority of the 21 education and independence practices, audit revenue, Strategy Council ifrms either have, or are taking and partner remuneration. These reports, many of which are set out in accordance with the requirements steps to have, some form of external oversight, either in the form of external governance board of the relevant local laws and regulations, such as members or advisory bodies: article 13 of the EU regulation No. 537/2014, are designed to give stakeholders insights into key aspects ■ PwC US currently has two external members on of PwC member ifrms, and to aid understanding of its board how PwC member ifrms are organised and deal with key issues such as quality management. To read the ■ PwC UK has ifve independent non-executive transparency reports for PwC member ifrms click here. directors on its Public Interest Body Network standards and policies ■ PwC Canada has four external directors on its board PwC member ifrms agree to abide by certain standards including: ■ PwC Switzerland has a Public Interest Committee consisting of ifve external members Strategy and alignment: Each member ifrm shall implement a strategy which is aligned with the PwC ■ PwC Australia has a three-member external audit network’s strategy and implement the strategic quality advisory board initiatives set out by PwC’s NLT.