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KPMG N.V. Integrated report 2020/2021

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Letter from our CEO

This was the second consecutive ’pandemics year’ that brought enormous challenges upon all of us. It hasn’t been easy, especially for those with fragile health and their environments.

Our business

KPMG N.V. is one of the Netherlands’ leading providers of assurance and advisory services. We are part of the global KPMG network, operating in nearly 150 countries worldwide.

Organisational structure

Assurance covers both audit and non-financial assurance; we audit financial statements, accounts, reports and other regulatory disclosures.

How we assess and maintain quality

Ensuring quality is about more than complying with rules and regulations.

Our quality controls and framework

At KPMG, we have an extensive system of quality controls. These controls apply to all KPMG member firms, ensuring compliance with professional standards, laws and regulations.

Our seven ‘quality drivers’

Our quality framework is built around seven ‘quality drivers’ – these are factors we believe ultimately drive and control quality.

How we manage risk

We use an Enterprise Risk Management (ERM) framework to identify risks. Where possible, we take measures to prevent or mitigate these risks. Ultimately, risk management is the responsibility of our Board of Management.

Risk mitigation and controls

During 2020/2021, none of the risks above had a significant or material impact on our financial performance. See our consolidated financial statements for further disclosures.

Strategy & value creation

We operate in a business environment that is changing rapidly – we are seeing immense social and economic change, due in part to the Covid-19 pandemic.

Public trust

Public trust is the first pillar of our strategy. That is because trust is prerequisite for the growth of our business. Our ambition is to be the most trusted – and most trustworthy – firm in our profession.

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