As our world changes, so do the needs of our clients and other stakeholders. With our business model and strategy, we anticipate and respond to these developments as well as creating value for the organizations and people we reach through our solutions and services. For more information on our stakeholder groups, see Stakeholder engagement (new window).
Our business model
Value creation
From our business activities, we create value for our clients, our partners and employees, as well as for wider society.
Value
creation
Knowledge and skills
To carry out our work, we rely on the knowledge, skills and expertise of our people.
Knowledge
and skills
Our businesses
Most of our revenue comes in fees from our two main businesses: Assurance and Advisory.
Our
businesses
Thought leadership
We share our knowledge and expertise on important economic, social and environmental issues.
Thought
leadership
Global network
In doing our work, we can draw on the resources and know-how of the global KPMG network.
Global
network
Digital technologies
We increasingly use data, new digital technologies, and AI to support our work.
Digital
technologies
Quality
We use a robust system of quality management to ensure our work meets the highest possible standards.
Quality
How we create value
Through our business activities, we create value for our stakeholders, including wider society. In particular, our assurance work helps build trust in financial markets and supports economic growth. With our advisory work, meanwhile, we improve our clients’ management of important ESG issues, strategy challenges, and digital transformations – all while helping them navigate today’s fast-changing business environment.
Our value creation model shows how we create different types of value for different stakeholders through our work.
Spotlight on audit quality
Quality is more than a component of our business model; it is a cornerstone of everything we do at KPMG N.V. In the same way, audit has always been a central pillar of our work (indeed, the K in our name is derived from the Klynveld Kraayenhof & Co auditing firm, one of KPMG’s founding organizations). As such, the importance we place on audit quality cannot be overstated. Only by delivering the highest-quality audits can investors and society place their trust in the financial reporting on which the capital markets rely.
We define audit quality as the outcome when audits are executed consistently, in line with the requirements and intent of applicable professional standards, and within a strong system of quality management. All our activities are undertaken in an environment of objectivity, independence, ethics, and integrity.
We are committed to continuously evolving our approach to quality. This includes harnessing technology to deliver high-quality audit services and empowering our people with the conditions and tools they need to consistently deliver high-quality work.
We use audit quality indicators (AQIs) to monitor our quality. In 2023/2024, the AQIs showed that both senior involvement and the deployment of specialists in PIE engagements, such as forensic and sustainability experts, are above target: the hours spent by partners on PIE engagements was 8% (target: 7%), and the hours spent by IT and other specialists on PIE engagements was 18% (target: >9%). We are also ahead of target with respect to the number of training hours per audit professional (212 hours, target: 160 hours). In terms of the results of our internal inspections, we still have work to do: we scored 94% compliant[1], whereas we strive for a score of 100%.
For more information, see Public trust (new window) and the Governance chapter of our sustainability statement, where audit quality – including our performance on all our AQIs – is addressed as a material topic for our business.
Our strategy
Our Trust & Growth strategy is founded on five focus areas: public trust, clients, people, digital & innovation, and financial strength. It is our roadmap for achieving our ambition of ensuring KPMG N.V. is the go-to firm in the Netherlands for assurance and advisory services. Our strategy recognizes several priority sectors (new window): financial services; infrastructure, government, and healthcare; consumer and retail; energy and natural resources; and technology, media, and telecommunications. Within these sectors, we focus on larger mid-market and international (listed) clients.
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Focus area |
Ambition |
Priorities in 2023/2024 |
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To be the most trusted and trustworthy professional services firm. |
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We want to be recognized as a leading brand in the Dutch market, known for outstanding (audit) quality and the digital and ESG transitions, resulting in trust, societal awareness, and talent attraction. |
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For clients to choose us and remain loyal to us. |
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We aim to be the preferred supplier for our managed accounts and to be recognized as a thought leader within our priority sectors. |
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To offer the best human experience and help others succeed. |
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We want our people to be proud to work for us and to be able to thrive, develop their careers, and deliver value to clients and society. |
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To be recognized as a genuinely client-centric, innovative, and digitally enabled company. |
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We aim to continue digitalizing our services (together with our Alliance partners) to improve our impact for clients; increase the AI and digital skills of our people; and strengthen our technology backbone to optimize Business Services operations. |
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To deliver profitable growth, sustainable in the long term. |
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Our goal is to continue to pursue sustainable and profitable growth, above the market average. |
We continued to bring Trust & Growth to life throughout 2023/2024, under the theme “Transform. Courageously.” This theme reflected the need to look closely and critically at our organization, to take decisive action to do better, and to maintain the trust of our clients, wider society, and other stakeholders. Trust is a prerequisite for delivering profitable and sustainable growth for our firm, which in turn is essential for us to positively contribute to the key transformations taking place in our world, such as digitalization, the advancement of social equality, and the shift to sustainable economies.
Trust & Growth is based on our multidisciplinary business model, combining Assurance and Advisory and enabled by Business Services. We believe this model keeps us resilient and able to respond to changing and emerging challenges. It also helps us to invest in our people and processes, innovate for the benefit of our stakeholders, and attract and retain talent – all of which are essential for successfully executing our strategy.
Our culture is another key enabler of Trust & Growth, as well as a key differentiator for KPMG N.V. in our market. Specifically, we focus on creating a safe working environment in which our people feel included, can speak their minds, and are encouraged to ask questions and experiment without fear of failure or reproval. Caring for everyone’s well-being is a precondition for ensuring our people’s motivation, high performance, and innovation and, ultimately, for achieving our ambitions.
Progress on our strategy
For the story of our progress on our Trust & Growth strategy, ambitions, and priorities in 2023/2024, please see the Performance and progress (new window) chapters of this management review. Further information can be found in the Environment (new window), Social (new window), and Governance (new window) chapters of our sustainability statement.
In line with the collective strategy set out by KPMG International, the 2024/2025 financial year marks the start of the next three-year phase of our strategy: Trust & Growth 3.0. This refreshed strategy will build on the strong foundations put in place over the past six years, enabling us to fulfil our potential as a force for better. We believe this next chapter will help us deliver on our purpose of inspiring confidence and empowering change, always led by our strong values.