Deloitte Ireland Firm Governance has been saved
Deloitte Ireland Firm Governance
- The Chairperson
- The Partnership Council
- The CEO
- The Executive Committee
- The Public Interest Oversight Committee (PIOC)
Deloitte Ireland LLP was an affiliate of Deloitte NWE LLP from 1 June 2018 until 31 May 2019. With effect from 1 June 2019 Deloitte NWE LLP combined with Deloitte Central Mediterranean – covering Italy, Greece and Malta – to become Deloitte North and South Europe (NSE).
Deloitte NSE, and previously, Deloitte NWE, is led by one NSE Executive and one NSE Board.
Deloitte Ireland has its own established governance structure comprised of four main elements:
- The Partnership Council under the leadership of the Chairperson of the Firm
- The Chief Executive Officer (CEO)
- The Executive Committee
- The Public Interest Oversight Committee
The CEO is a member of the NSE Executive Board, as well as the Chairperson, is a member of the NSE Board.
The Chairperson 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.
The Chairperson shall not serve more than two terms and the roles of Chairperson and CEO may not be concurrently held by any one partner. Our Chairperson on 31 May 2019 was Gerry Fitzpatrick, who had served in this office since 1 June 2015. Gerry retired in August and Deirdre Power has been elected the new Chairperson effective 1 June 2019.
The Chairperson is a member of the Deloitte NSE Board.
The Partnership Council
The Partnership Council has a supervisory role on behalf of the partners and is responsible for:
- ensuring equity and fairness between partners • ensuring partner alignment with NSE principles
- conducting soundings to identify candidates for CEO, Chair and membership of the Partnership Council
- ensuring fairness in implementation of NSE policies and strategies by the CEO
- making recommendations to the firm on specific matters reserved for partner approval as set out in the partnership agreement. In 2018 the Council consisted of eight members being the Chairperson and seven other members who transitioned from the previous board structure in place prior to 1 June 2018.
The CEO 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. The CEO shall not serve more than two terms. The CEO at 31 May 2019 was Brendan Jennings, who has served in this role since 1 June 2011. On 1 June 2019 Harry Goddard became the new CEO of Deloitte Ireland. He is responsible to the partners and the Partnership Council for management and operation of all aspects of the business of the Firm within the policy and planning framework determined by the partners. He also is a member of the Deloitte NSE Executive.
The Executive Committee
The Executive Committee is responsible for, and has general authority over, and supervision of, the management of the Firm including the shaping and delivery of strategic plans for the Firm. The Executive Committee is responsible for the implementation of the partnership policies to achieve these plans.
The Executive Committee of the Firm consists of the CEO and nine members appointed by the CEO, who comprise the Business Function Heads, together with the Finance Partner, the Clients and Industries Partner, the Talent Partner, the Risk & Reputation Partner and a Regional Partner.
On the 1 June 2019, alongside the appointment of the new CEO, Harry Goddard, the new Members of the Executive Committee have been appointed:
- Harry Goddard, CEO
- Michael Hartwell (Audit & Assurance)
- Cormac Hughes (Consulting)
- Martin Reilly (Financial Advisory)
- Colm McDonnell (Risk Advisory)
- Lorraine Griffin (Tax)
- Karen Frawley (Clients & Industries)
- Anya Cummins (Deloitte Private)
- David Dalton (Financial Services)
- Cathal Treacy (Regions)
- Kevin Sheehan (Finance)
- Brian Jackson (COO)
- Niamh Geraghty (People and Purpose)
- Glenn Gillard (Risk and Reputation)
The Public Interest Oversight Committee (PIOC)
The Public Interest Oversight Committee was established in 2013 in accordance with the principles set out in the Irish Audit Firm Governance Code, published by the Chartered Accountants Regulatory Board (CARB) in June 2012. The PIOC comprises three independent non-executive members (INEs), together with the CEO and the Head of Audit and Assurance. Appointments of INEs to the committee are for a four-year term, with eligibility for re-appointment. The PIOC meets periodically during the year. The PIOC shall appoint a secretary each year, who shall be entitled to attend meetings of the PIOC but shall not be entitled to vote. The Head of Risk and Reputation, Glenn Gillard, currently acts as secretary.
The current INEs are:-
Questions arising at any meeting of the PIOC shall be decided by a majority vote with only the INEs being entitled to vote.
The PIOC will serve, and seek to safeguard, the public interest by enhancing stakeholder confidence in the public interest aspects of the firm’s decision making relating to its audit and assurance (including risk advisory) services, initiating and encouraging dialogue and feedback from relevant stakeholders relating to the firm's audit and assurance services, and advising the Geography executive on the management of reputational risks relating to the firm's audit and assurance services. In discharging its functions, the PIOC shall have particular regard to the Audit Firm Governance Code. A report from the PIOC is included in the firm's annual Transparency Report.
The firm provides resources sufficient to enable each INE to perform their duties which include where considered appropriate, access to independent professional advice.