We maintain constant dialogue with our stakeholders; this helps us understand their needs, build trust and define value creation, as well as identify specific risks and opportunities for our business. We engage with our stakeholders, among others, through regular meetings, conferences, events and surveys.
Defining our stakeholders
To identify our stakeholders, we use a 360-degree definition – i.e., any individual or group affecting our business, operations or performance or who, in turn, may be affected by our activities or decision-making. Using this definition, we recognize six separate stakeholder groups:
Clients (including public, private and volunteer sectors)
Employees (including professionals, graduates and other jobseekers)
Equity partners
Wider society (including NGOs and local community groups)
Regulators, policymakers and other standard setters
Suppliers, business partners, membership associations and other KPMG member firms
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Stakeholder group /methods of engagement |
Principal issues addressed (2022/2023) |
|---|---|
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Clients |
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Client satisfaction surveys (including client care interviews) |
Regulatory changes (including CSRD (new window)) |
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Client events |
Mandatory Firm Rotations (MFRs) |
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Visits by Board members (as part of our Client Connect program) |
ESG/adoption of new digital technologies |
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Regular contact during assurance/advisory engagements |
Price increases in both Assurance/Advisory |
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Roll-out of KPMG Clara (new window) |
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Continued public sector investment in infrastructure, healthcare etc. |
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Employees |
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Annual Global People Survey (supported by multiple pulse surveys) |
Ethical standards and (audit) quality |
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Dialogue with Works Council and KPMG Young Board |
Workload/work-life balance |
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Performance reviews, training, education and awareness programs |
Cost of living and approach to pay |
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Regular internal communications |
Psychological safety (new window) in workplace |
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Careers section on website, in-house days and KPMG events for jobseekers and professionals |
Inclusion, diversity & equity (new window) programs and initiatives |
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Partnerships with universities and business schools |
New career paths (new window) (ESG/digital) |
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Introduction of new target operating models |
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Equity partners |
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Quarterly partner meetings |
Maintaining high standards of ethics/audit quality |
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General shareholder meetings/meetings with Management Board of Coöperatie KPMG U.A. |
Financial performance/rising costs |
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Performance reviews, training, education and awareness programs |
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Global People Survey and pulse surveys |
Introduction of target operating models |
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Skills shortages, recruitment and succession planning |
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Wider society |
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Thought leadership through KPMG Insights, surveys and other publications |
Support for community initiatives |
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Support for community initiatives |
Thought leadership program (including KPMG Insights (new window)) |
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Press releases and engagement with media |
Roll-out of KPMG Impact Plan (new window) |
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Investigation into answer sharing (new window) related to mandatory training tests |
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Regulators, policymakers and other standard setters |
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Inspections by external regulators |
Investigation into answer sharing (new window) related to mandatory training tests, inspection of our system of quality control regarding engagement quality control reviews (EQCR), as well as inspection of the role of the EQCR on four engagements |
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Participation in public conferences, debates and round tables |
Maintaining audit quality and ethical culture |
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Feedback given on proposed legislation and rule changes |
Introduction of ISQM 1 (new window) |
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Quarterly meetings with the Dutch Authority for the Financial Markets (AFM (new window)) |
New EU non-financial reporting requirements (CSRD (new window)) |
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Future of audit (including education) |
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Suppliers, business partners and other KPMG member firms |
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Regular dialogue with other KPMG member firms |
Group projects (including KPMG Clara (new window)) |
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Global projects (including KPMG Clara (new window), Service Now, and Connected (new window), Powered (new window), Trusted (new window)) |
Key alliances (such as Microsoft, SalesForce, SAP and ServiceNow) |
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KPMG representation in professional and industry associations |
Increasing prices for goods and services |
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Regular engagement with suppliers and other business partners during projects |
Use of group resources (e.g. Global Growth Accelerator and KPMG Delivery Network (new window)) |
Membership associations
As part of our stakeholder management, we engage in different membership associations. These include the Confederation of Netherlands Industry and Employers, VNO-NCW (new window); the Dutch network for Sustainably Responsible Organizations, MVO Nederland (new window); UN Global Compact Network Netherlands (new window), a network to promote the sustainability of companies with the aim of improving the lives of future generations; and Anders Reizen (new window) (Travel Differently), a coalition with the aim of reducing business travel emissions with 50% in 2030.