Functioning of the Supervisory Board

The Supervisory Board is responsible for overseeing and advising the Board of Management, with a view to protecting public interest and creating long-term value for the firm’s stakeholders. This includes advising on Assurance and Advisory businesses (as well as the challenges and opportunities that arise from KPMG being present in both businesses).

The Supervisory Board also advises the Board of Management on KPMG N.V.’s supporting organization, including the internal risk controls in place as part of the firm’s Enterprise Risk Management (ERM) Framework. The Supervisory Board’s responsibilities are set out in KPMG N.V.’s Articles of Association and the Board’s own rules of procedure, available online (new window).[a]

Consultation with internal and external stakeholders

Members of the Supervisory Board regularly meet other internal stakeholders. These stakeholders include Board members at Coöperatie KPMG U.A., equity partners, employees, Young Board Now and representatives from the firm’s Works’ Council. The Board also maintains regular contact with KPMG International, clients, regulators and other external stakeholders. These conversations keep the Supervisory Board informed of developments, and help it constantly assess and review its role within KPMG N.V..

Current Board composition and membership of committees

At the end of 2022/2023, our Supervisory Board comprised six members. Each of these members complied with the profile description set out in the Supervisory Board Rules. Taken together, the Board has considerable expertise in management, finance, IT, risk and compliance, ESG, governance and human resources.

On 25 June 2023, Roger van Boxtel stepped down as Supervisory Board Chair, two years ahead of the end of his mandate. He made the decision to resign after admitting that he had received assistance in completing a training test. On his resignation, Vice-Chair Jolande Sap served as interim Chair with immediate effect, until 18 August 2023 – the end of her second and final mandate as a member of KPMG N.V.’s Supervisory Board. Linda Hovius took over as interim Chair as of the end of the term of Jolande, until 13 September 2023, when Bernard Wientjes was appointed Chair. He was Chairman of the Supervisory Board for 6.5 years between 2015 and 2021 and has now been appointed for a maximum period of 1.5 years. One other new member was appointed to the Supervisory Board during the year: as of 1 September 2023, Sandra Berendsen will further strengthen the Board’s diversity and expertise, particularly in ESG.

Details of Board members, their appointments and committee membership may be found in the table below:

Board independence

All Supervisory Board members qualify as independent under the terms of the Dutch Corporate Governance Code (new window) and Audit Firms Supervision Act (new window) (as well as KPMG N.V.’s own Supervisory Board Rules (new window)). Members’ independence is monitored by the Ethics & Independence unit, part of our Quality and Risk Management function. Supervisory Board members are obligated to notify KPMG N.V.’s Ethics & Independence department of any material change in their positions. Members’ continued independent status is verified at all meetings of the Supervisory Board, and members must inform the Chair of potential conflicts of interest.

• a These rules of procedure are compliant with the Audit Firms Supervision Act (new window) and measures introduced by the Royal Netherlands Institute of Chartered Accountants as part of its 2014 Public Interest Report, as well as the Supervisory Board's 'Toezichtsvisie (new window)'. For more information, please see KPMG's website (new window).