Governance at KPMG International

The corporate governance structure at KPMG International is supported by five main bodies.

Global Council - This body focuses on strategy and governance, and performs functions equivalent to a shareholders’ meeting for a public stock corporation. Among other things, the Global Council elects the chairperson of KPMG International for a term of up to four years (renewable for a further four) and approves the appointment of Global Board members, including representatives from 56 member firms of KPMG International, in accordance with Swiss Law (sub-licensees are generally indirectly represented by a member firm). It provides a forum for discussion and communication among member firms.

Global Board - This is the principal governance and oversight body, and is responsible for including and approving strategies, protecting and enhancing the KPMG brand, overseeing management, and approving policies and regulations. It also admits member firms and ratifies the chairperson’s appointment of the members of the Global executive team. Led by the chairperson of KPMG International – who is supported by the Executive Committee – this Board also includes the deputy chairperson of KPMG International and the chairperson of each of the three regions – the Americas; Asia Pacific (ASPAC); and Europe, the Middle East and Africa (EMA) – as well as senior partners from some of the largest member firms, including Brazil, totalling 21 members. The Global Board is supported by Global Committees responsible for implementing action plans that address the strategies determined for each specific business area, namely the: Executive Committee; Governance Committee; Operations Committee; Investments Committee; Quality & Risk Management Committee; and Professional Indemnity Committee.

Global Management Team – This team's responsibilities have been delegated by the Global Board and include working with the Executive Committee to support the execution of the global strategy approved by the Global Board and establishing processes to monitor and ensure compliance with global policies. It is led by the deputy chairperson of KPMG International and includes the global chairperson, the global heads of each practice, the heads of Operations, People, Quality, Risk and Compliance and the General Council.

Global Steering Groups – Global Steering Groups are responsible for supporting and driving the execution of the strategy and business plan in their respective areas (Global Audit, Tax and Advisory Steering Groups and Quality & Risk Management Steering Group), acting under the oversight of the Global Management Team.

Regional Boards – Each region (the Americas, EMA and ASPAC) has a Regional Board comprising a regional chairperson, a COO, a representative from each sub-region, and other members as appropriate. Each Regional Board supports the global strategy and assists in the implementation of KPMG International’s policies and processes with a focus on the needs of their region. David Bunce, the chairman of KPMG in Brazil from 1999 to 2008, was a member of the Regional Board Americas as chairman for South America until 2014.