PwC UK announces changes to its Public Interest Body

PwC, the professional services firm, has named Philip Rycroft CB as the new chair of its Public Interest Body (PIB), taking over from Dame Fiona Kendrick with effect from 15 August 2023.

Philip Rycroft is a former senior Civil Servant and joined as an Independent Non-Executive (INE) in March 2020 and since November 2020 has also been Chair of PwC’s Audit Oversight Body (AOB).

The PIB, which also includes Suzanne Baxter and Victoria Raffé as INEs, provides challenge and oversight to the firm. With Philip becoming PIB Chair, Caroline Gardner CBE, a current AOB member, will take over from Philip Rycroft as PwC’s AOB Chair. Suzanne Baxter will also become a member of the AOB.

Kevin Ellis, Chairman and Senior Partner of PwC UK, said: 

“I’m delighted to welcome Philip Rycroft as the new chair of our Public Interest Body. He brings valuable experience and insight to this important governance role. We recognise the skills that Philip and the INEs bring and the critical role they play in the effectiveness of the firm’s governance and decision making processes.  

“Thank you to Dame Fiona for all her work chairing the PIB for over the last 4 years. She has made a significant contribution to evolving robust governance practices and ensuring effective transparency across the business at an important time for the firm and the profession. I’d also like to thank her for her constructive challenge and thoughtful advice to the management team.”

Philip Rycroft CB added: 

“Ensuring strong governance and embedding a culture that promotes the firm’s core values and engenders trust is critical to PwC.  Given the ongoing scrutiny of professional services and the role PwC plays in the UK economy it’s vital that we play a proactive role in helping to build trust and confidence in business.”

Caroline Gardner CBE, commented:

"I'm pleased to be Chairing the Audit Oversight Board. Against an uncertain economic backdrop, it's more important than ever that the AOB continues to challenge PwC to deliver high quality audit services delivered for the benefit of the Public Interest." 

Ends

Notes to editors

The Audit Oversight Body (AOB) is a committee of the Public Interest Body (PIB) of PricewaterhouseCoopers LLP (the UK firm). The AOB was established in November 2020 to oversee governance of the firm’s Audit practice with a focus on enhancing transparency and effectiveness.