The company financial statements have been prepared in accordance with Title 9, Book 2 of the Dutch Civil Code and are presented together with the financial statements of KPMG N.V. Since the figures of KPMG N.V. are included in the consolidated financial statements that form part of these financial statements, the Company’s statement of profit or loss and other comprehensive income has been presented in an abridged form in accordance with Section 402, Part 9, Book 2 of the Dutch Civil Code.
For the valuation of assets and liabilities and in determining the result in its company financial statements, KPMG N.V. has availed itself of the option provided for in Article 362 par. 8, Book 2 of the Dutch Civil Code. This states that policies regarding the valuation of assets and liabilities and the determination of the result of the company financial statements correspond with those applied for the consolidated financial statements, which are prepared in conformity with IFRS as adopted by the European Union (EU-IFRS) and with Part 9 of Book 2 of the Dutch Civil Code. The relevant accounting policies set out in Note 2 Basis of preparation and Note 3 Significant accounting policies to the consolidated financial statements have been applied consistently to all periods accounted for in these company financial statements.
30.2 Accounting policies
Participating interests in group companies
Participating interests in group companies are accounted for in the company financial statements according to the equity method. For further information, please see the basis of consolidation accounting policy in the consolidated financial statements.
Results of participating interests
The share in the result of participating interests consists of the share of the Company in the result of these participating interests. Results on transactions involving the transfer of assets and liabilities between the Company and its participating interests and mutually between participating interests themselves, are eliminated to the extent that they can be considered as not realized.
The terms governing profits of group companies are laid down by contract between KPMG N.V. and its operating companies, which specifies that 97.5% of their revenue – less any amount payable by the relevant companies to KPMG Staffing & Facility Services B.V. for services provided by KPMG Staffing & Facility Services B.V. to the companies concerned, and less expenses that they are required to bear themselves – must be paid to KPMG N.V. for the provision of services by partners and for the provision of Group financing.