27 List of subsidiaries

Unless otherwise stated, the following subsidiaries are wholly owned by KPMG N.V.

KPMG Accountants N.V. Amstelveen
KPMG Advisory N.V. Amstelveen
KPMG Staffing & Facility Services B.V. Amstelveen

During the reporting period, the Group’s 15% interest in KPMG Investments Malta Ltd. was sold.

There have been no other changes in shareholdings.