Functioning of the Supervisory Board

KPMG N.V.’s 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 N.V. being active in both markets).

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.[1]

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 members, 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 2023/2024, the Supervisory Board comprised five members. Each of these members complied with the profile description set out in the Supervisory Board Rules. As a whole, the Board has considerable expertise in management, finance, information technology (IT), risk and compliance, environment, social, and governance (ESG) matters, and human resources.

On July 31, 2024, Gosse Boon, Chair of the Audit & Risk Committee, completed his second and final term. In addition, on August 31, 2024, Claartje Bulten's mandate on the Supervisory Board came to an end. One new member was appointed during the year: on August 1, 2024, Pascal Visée joined the Supervisory Board, strengthening its expertise as Chair of the Audit & Risk Committee. There is currently one vacancy on the Supervisory Board for a member of the Audit & Risk Committee, with an appointment to be made as soon as possible.

Details of Board members, their appointments, and their committee membership are presented in the following table.

Board independence

All Supervisory Board members qualify as independent under the terms of the Dutch Corporate Governance Code and Audit Firms Supervision Act (as well as KPMG N.V.’s own Supervisory Board Rules). Members’ independence is monitored by the Ethics & Independence unit, part of KPMG N.V.’s 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.