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PwC Adds Two Independent Directors to its Board

According to the Wall Street Journal, PwC recently added two (2) independent directors to the partnership's governing board, a move that has been encouraged in regulatory circles but is not required in the US.  PwC, which indicated they are adding outside directors as a means to improve governance of the firm (for example, by providing additional perspectives and diversity to the Board), is the first Big 4 accounting firm to do so. 

The article indicated, 'In 2008, a Treasury Department advisory committee on auditing said such a move “could improve investor protection through enhanced audit quality and firm transparency”' and also noted that Steve Harris, a member of the Public Company Accounting Oversight Board, advocated the idea in a speech last month, saying independent directors represent “basic sound governance practice.” 

I applaud the move and am sure others will as well -