Skip to article navigation Skip to content

28 Collaboration agreements and related parties

A page refresh occures when a subject is selected.

Skip article navigation.

28.1 Collaboration agreements

Meijburg & Co.

In the Netherlands, the Group collaborates with an independent firm of tax consultants, Meijburg & Co. The financial figures of this firm are not included in the consolidated financial statements of KPMG N.V.

KPMG International

KPMG N.V., registered with the trade register in the Netherlands, is a subsidiary of Coöperatie KPMG U.A. and a member firm of the KPMG network of independent member firms affiliated with KPMG International. As a result of this affiliation, the Group collaborates closely with other KPMG member firms.

28.2 Related parties

28.2.1 Parent company

Coöperatie KPMG U.A. holds the shares in KPMG N.V. The members of the Cooperative are the practice companies owned by partners. Under these agreements, the services of the partners are made available to the Cooperative, which in turn makes these services of the partners available to KPMG N.V. and its subsidiaries.

Transactions between the Group and Coöperatie KPMG U.A. during 2020/2021 can be specified as follows:

EUR 000

2020/2021

2019/2020

Management fees

-110,215

-60,884

Interest paid to Coöperatie KPMG U.A.

-4,324

-4,646

Repayment of share premium

-1,510

-1,870

As at 30 September 2021 the following positions relate to Coöperatie KPMG U.A.:

EUR 000

30 September 2021

30 September 2020

Loans received from Coöperatie KPMG U.A.

141,598

93,876

28.2.2 Key management

Board of Management

As at 30 September 2021, 3 members of the board of management (2019/2020: 3 members) indirectly hold 2% (2019/2020: 2%) of shares in the Group in aggregate.

Compensation of the Group’s key management includes management fees, salaries, non-cash benefits and contributions to a post-employment defined contribution plan. Compensation can be specified as follows:

EUR 000 (if applicable)

S. Hottenhuis

R.P. Kreukniet

M. Hogeboom

E. Herrie

Total

 

2020/2021

      

FTEs (pro rata)

1.0

1.0

1.0

1.0

4.0

 
       

Management fees

719

719

719

2,157

 

Short-term employee benefits

823

823

 

Post-employment benefits

25

25

 

Other short-term benefits

13

14

11

15

53

 

Total

861

733

730

734

3,058

 
       
 

S. Hottenhuis

R.P. Kreukniet

E. Eeftink

M. Hogeboom

E. Herrie

Total

2019/2020

      

FTEs (pro rata)

1.0

1.0

0.3

0.7

0.2

3.2

       

Management fees

665

166

499

115

1,445

Short-term employee benefits

764

764

Post-employment benefits

23

23

Other short-term benefits

16

17

5

9

5

52

Total

803

682

171

508

120

2,284

In 2019/2020, the Board of Management requested that the Supervisory Board reduce their remuneration (and that of former board members in 2019/2020) over the last two ‘Covid quarters’ of 2019/2020, by 15%. The reason was to demonstrate their solidarity with all those working at KPMG. To this end, the reduced amount was added to the budget for variable pay for employees.

In addition, the Group has the following outstanding balances in the form of equity and loans payable to the Board of Management:

EUR 000

S. Hottenhuis

R.P. Kreukniet

M. Hogeboom

E. Herrie

Total

30 September 2021

     

Equity contribution in Coöperatie KPMG U.A. by key management

180

180

180

540

Loans payable to key management

50*

740

632

767

2,189

Interest on loans

3

32

38

29

102

      
      
 

S. Hottenhuis

R.P. Kreukniet

M. Hogeboom

E. Herrie

Total

30 September 2020

     

Equity contribution in Coöperatie KPMG U.A. by key management

180

180

180

540

Loans payable to key management

50*

570

809

652

2,081

Interest on loans

4

30

27

5

66

*Relates to employee bonds.

Supervisory board

Supervisory board members received a total remuneration of EUR 361 (2019/2020: EUR 289). Remuneration can be specified as follows:

EUR 000 (if applicable)

B.E.M. Wientjes

G. Boon

R. van Boxtel

H.J. van Doren-malen

J.C.M. Sap

R.A. Steen-voorden

C. Bulten

Total

2020/2021

        

FTEs (pro rata)

1.0

1.0

0.3

0.9

1.0

0.9

1.0

6.1

Short-term benefits

72

58

18

53

58

50

55

364

         
 

B.E.M. Wientjes

G. Boon

H.J. van Doren-malen

L.J. Griffith

J.C.M. Sap

R.A. Steen-voorden

C. Bulten

Total

2019/2020

        

FTEs (pro rata)

1.0

1.0

1.0

0.2

1.0

1.0

0.1

5.3

Short-term benefits

67

53

53

8

53

51

4

289

In 2019/2020, all members agreed to a pay cut of 15% over the last two quarters of 2019/2020 in line with the Board of Management, as outlined above. The aim was to demonstrate their solidarity with all employees working at KPMG. The total amount of this combined pay cut of both the Supervisory Board and the Board of Management, wasprovided to all employees through the regular variable pay process.

28.2.3 Equity accounted investees

The following amounts relate to equity accounted investees:

EUR 000

30 September 2021

30 September 2020

Trade receivables

256

211

As at 30 September 2021, the equity accounted investee is classified as held for sale.