The management fee payable to the partners, through Coöperatie KPMG U.A., is remuneration for professional services performed and entrepreneurial risk. Partners must make their own pension arrangements and pay social security costs from this fee.
The level of the management fees payable to individual partners reflects their roles and specific responsibilities as well as corresponding levels of performance and to a certain extent reflects growth based on seniority in their initial years as partners.
In addition to their management fee, the practice companies of the partners also received expense allowances amounting to a total of EUR 96 (2019/2020: EUR 95), car allowances amounting to EUR 2,059 (2019/2020: EUR 2,198) and interest on financing totalling EUR 4,324 (2019/2020: EUR 4,646). These costs are shown in the statement of profit or loss and other comprehensive income under other expenses and finance expenses, respectively.