Discover the Terms of Reference for our Management Board

Terms of Reference

Membership

The Committee shall comprise of:

• Chairman – as elected by the partnership
• Vice Chairman – as elected by the partnership
• 3 other members – as elected by the partnership
• 2 additional members -selected by the Managing Partner (as detailed below)

The Chairman may appoint (if necessary) 2 additional members to join the MB which brings certain skillsets to complement the MB with the strategic direction of the firm.

The selected members of the MB shall be appointed annually or as agreed with the Managing Partner.

The elected member of the MB are appointed by the partnership in accordance with Schedule 8 of the LLP agreement.

The Secretary to the MB shall act as Secretary to the Committee and provide support as required.

Meetings and attendance

The MB shall meet monthly. Further meetings may be called by any member of the MB if required.

The quorum for meetings of the MB shall be two thirds of its members.

Notice of each meeting confirming the venue, time, and date, together with an agenda of items to be discussed, shall be made available to each member of the Committee in sufficient time to enable consideration of the issues.

Supporting papers will be made available in electronic form to Committee members.

Meetings can be held physically or virtually.

Only members of the MB have the right to attend meetings. Other guests (both internal and external to the Firm) may attend by invitation of the Managing Partner.

Decisions shall be reached by a simple majority, with the Managing Partner having the casting vote. Resolutions may be made at a meeting verbally, in writing or electronically.

Roles and responsibilities

The MB’s core responsibilities are:

• ensuring the Firm operates within the Principles as set out in the Firm’s LLP agreement
• assessing and controlling risk, including protecting the goodwill and reputation of the Firm
• developing and implementing the Firm’s strategy driving financial and operational management that delivers a profitable and sustainable firm
• ensuring the Firm complies with all relevant professional, regulatory, reporting, legal and ethical obligations ensuring quality is at the heart of everything undertaken by the Firm
• fostering an inclusive culture underpinned by our STAR values for everyone at the Firm

In carrying out its responsibilities, the MB will consider the Firm’s obligations and commitments as a member firm of the Baker Tilly network.

Reporting

Minutes of the MB shall be made available to the Oversight Committee.

The Managing Partner shall report to the Oversight Committee following the meeting of the MB.

These terms of reference shall be made available to all partners and published on the firm’s external website as required by the Regulator.

The Oversight Committee shall ensure it reviews the effectiveness annually as part of the wider self-appraisal process conducted by the Oversight Committee, including a review of its composition and these terms of reference.

Review and evaluation

MB members are subject to a yearly performance evaluation (which shall include their performance on the MB) which is reported to the Oversight Committee. The MB will regularly review its own performance, constitution, and its Terms of Reference to ensure it is operating at maximum effectiveness.