Partners are responsible for considering various matters at quarterly meetings as specified in the LLP Deed. Partner seminars are held at least twice a year to encourage feedback from all partners on the firm’s strategy. The firm’s constitution is contained in the LLP Deed, which includes the process for the election of the Managing Partner, appointed for a four-year term – they are also able to be re-appointed for a subsequent term.
The firm implemented a new management and governance structure on 1 July 2022. The partners have elected a Leadership Board which comprises the Managing Partner, one elected partner with significant management responsibilities, and three elected partners without significant management responsibilities. Two non-executive members joined the Board in 2022, one of whom primarily focuses on audit quality.
Each member is initially appointed for a three-year term and can be re-appointed. The Leadership Board meet monthly, and their roles include:
- Considering and developing strategy proposals
- Strategic and longer term financial and resource planning
- Ultimate responsibility for the firm’s financial performance and risk management
- Being responsible and accountable for quality and ensuring the firm’s culture and values are appropriate
In addition, the Leadership Board performs an annual review of the effectiveness of the firm’s system of internal control.
The Managing Partner, supported by the Management Team, has the ultimate responsibility for the day-to-day management of the firm. The Managing Partner determines the structure and appointments to the Management Team.
The members of the Leadership Board and the Management Team are set out below: