Remuneration Report

Across KPMG N.V., we have a clear, consistent approach to remuneration. Our people are entitled to both a fixed salary and performance-related variable pay. In determining variable pay, we consider several criteria. Of these, the most important is quality. As a matter of policy, professionals who underperform on quality are not eligible for variable pay. However, we do reward those who go beyond the original scope of their roles and/or have a positive impact on their team and the company as a whole.

For all our people, performance is assessed against pre-agreed annual goals, which are linked to KPMG N.V.’s business plan, culture, values and behaviors. Performance is graded; we use these grades – plus an individual’s potential career path – to determine remuneration. As a company, we regularly benchmark our remuneration against peers to ensure we remain competitive.

For engagement leaders – i.e., those leading audits or advisory projects with clients – performance scores are determined using standardized quality and risk metrics (including the results of external reviews and internal monitoring programs, “leading by example”, and timely completion of training).


Our equity partners do not receive salary and have a different remuneration structure. Each year, they receive a share of profits, which is also adjusted for performance (starting with quality). In 2022/2023, partners received an average profit-share of EUR 457,000, a decrease of 39% compared with the previous year (EUR 752,000). This was predominantly caused by the PCAOB penalty and the costs of the investigation into answer sharing (new window). Pay for partners is determined by two factors: the company’s profit for the year and personal performance. Management monitors closely any partners scoring 4 or 5 (the two lowest grades). For these, individual improvement plans are put in place. This process is overseen by the Supervisory Board. Equity partners – in both Assurance and Advisory – are subject to clawbacks; this allows the firm to recover part of their annual management fees in the case of “demonstrably culpable conduct”. As such, clawbacks were also part of the (financial) sanctions imposed following the investigation into answer sharing. A deferred profit-sharing scheme is also in place for assurance partners (in line with measure 3.5, published by the Royal Netherlands Institute for Chartered Accountants).

Board of Management

Members of the Board of Management receive fixed compensation. They are not eligible for variable pay. Equity partners serving as members of the Board of Management are also excluded from profit sharing. The remuneration for Board of Management members is determined at the beginning of each year by the Supervisory Board, based on levels of partner pay over the past three years (so-called rolling mechanism), market trends and professional responsibility. This is done in order to focus remuneration on the longer term performance of the firm. The CEO – as non-equity partner – is in specific circumstances eligible for a termination payment and receives retirement benefits as participant of the pension scheme agreement. When evaluating the performance of members of the Board of Management, the Supervisory Board takes into account personal performance, as well as members’ approach to long-term KPIs in areas such as quality, public trust, client satisfaction, people management and sustainable business growth.

For this current year the remuneration of the Board of Management does not reflect the PCAOB penalty and the costs of the investigation into answer sharing (new window). By way of the rolling mechanism, these costs will be reflected in the Board remuneration in the coming three fiscal years accordingly. Please refer to our Financial Statements (new window) for details of the Board of Management’s annual remuneration.

Supervisory Board

Members of the Supervisory Board receive fixed annual fees. They received a total remuneration of EUR 461,000 (2021/2022: EUR 320,000). Remuneration (in EUR) for 2022/2023 can be specified as follows:

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