Over a century ago, KPMG’s founders (including the Netherlands’ own Piet Klynveld) instilled in our firm a philosophy based on two key principles: building trusted relationships with clients and delivering services of the very highest quality. Today, the world looks very different – but our determination to live up to our founders’ example remains unchanged. Indeed, with technological and (geo)political disruption all around, we believe trust and quality are more relevant than ever.
Leading change, values first
We can look back on a highly successful 2024/2025, built around the theme “Leading Change, Values First!”. Thanks to our agility and resilience in a turbulent environment, we closed the year with excellent results – reaffirming both our value to clients and our societal relevance. Our revenue growth outperformed the market, and both Assurance and Advisory contributed strongly. We executed on our strategic priorities, focused on quality and public trust, the engagement of our people, the high satisfaction of our clients and the digital transformation. As a result, we continue to achieve sustainable financial performance, with a strong, globally aligned investment agenda.
Leading Change. Transformation remained a major topic for all three of our functions: Advisory, Assurance, and Central Services. Digitalization in general, and the rise of artificial intelligence (AI) in particular, accelerated rapidly. We incorporated this into the way we work, the services we offer, and the way we ensure our people are equipped with the right skills and knowledge. Above all, we focused on making KPMG a great place to work – where people feel safe, supported, and comfortable – while fostering high performance and providing plenty of opportunities for growth and development.
Values First. We learn from successes and even more so from mistakes. We use these lessons to drive positive cultural change through our Values First culture program. We focused on two key behaviors: Clarity on Integrity (we do what is right, because we know what is right) and Courage to Address (we address behavior respectfully but firmly, with a sense of responsibility for KPMG).
In 2025/2026, we will embed Values First even deeper into our processes and behaviors. I believe we are steering the right course; indeed, enhanced regulatory supervision was lifted in September, with the regulator acknowledging KPMG’s commitment to preventing answer sharing and similar situations. This only emphasizes our responsibility to continue with our remediation and prevention measures, which include monitoring, horizon scanning, and embedding a speak-up mindset in processes and behaviors. Driven by motivation and conviction, we will continue this journey.
As one of the Big 9 firms in our global network, we carry a responsibility to strengthen KPMG’s impact both in our market and beyond. Our clients deserve the very best of what we as KPMG offer worldwide. That means investing in quality, distinctive expertise, and the integration of AI – while preserving the human factor that makes us unique and trustworthy.
(Em)powered by our people
I am proud that our clients consistently name KPMG as the most personal and people-centric firm among our peers. This was reflected in our 2024/2025 brand campaign, “Het blijft mensenwerk,” which shone a spotlight on the people of KPMG. Through the idea of “mensenwerk” – work done by and for people – we celebrate our unique human strengths, while also acknowledging our vulnerability. After all, our ability to learn and reflect drives our progress. We make a difference through our professionalism, experience, and insight.
With four generations in the workplace, we foster an environment of empathy and belonging, where every individual feels supported and empowered to make an impact. Our strategic focus on inclusion, diversity, and equity, combined with skills-based talent strategies and responsible AI adoption, ensures that progress is always (em)powered by people. Together, we are building a workplace that reflects who we are and where we are heading: purpose driven, inclusive, and ready for the future.
During the year, we made it a priority to put AI in the hands of our people – accelerating adoption through tailored learning programs, leadership pathways, and hands-on training. From our “You can with AI” campaign to the launch of advanced tools like M365 Copilot and KPMG Clara, we have transformed how our teams work, collaborate, and innovate. As roles evolve, we are committed to preparing every employee to adapt and thrive, especially junior professionals whose work is being reshaped by generative AI. With a strong focus on trusted and responsible AI, on training and building critical review and reflection in our workflows, we ensure that technology enhances human judgment, ethics, and impact. And this journey has just begun. I strongly believe that AI is an opportunity to future-proof our profession and empower our people to fulfil our societal role with confidence.
Close to our clients
With the current market and (geo)political volatility, we focus on the quality of our work for our clients – to address the complex transformational challenges each one deals with. By understanding their evolving needs and embedding AI-driven innovation into our services, we help clients navigate transitions and seize new opportunities. We add value for Assurance and Advisory clients by providing the innovative solutions and trusted partnership they need to make well-informed decisions and achieve their own bold goals.
In 2024/2025, we made significant further investments to strengthen both our key propositions and long-term client relationships. We supported organizations undergoing their own digital and AI transformations, often end-to-end. We delivered solutions to clients to accelerate their responsible adoption of AI tools, structuring and protecting data, adopting various enterprise management systems, strengthening cyber resilience, and much more. Leveraging the strengths of the global KPMG network, we also deepened our collaboration with our global technology Alliance partners.
Responsible for something greater
For more than 100 years, society has looked to KPMG to uphold the public interest and drive progress – and we continue to recognize our responsibility to help build a sustainable future. At KPMG, our role is, and will always be, to enhance public trust in organizations and the capital markets by conducting high-quality audits. As an advisor, we increasingly use our solutions and services to help our clients manage the AI and sustainability transitions responsibly. This helps to strengthen society’s trust in processes and outcomes alike.
We cannot fulfil these responsibilities without earning and protecting the trust of our own stakeholders. This requires us to uphold the highest standards as we undertake the very same transformations in which we support our clients: in AI and in the environmental, social, and governance (ESG) domain. In 2024/2025, we advanced our expertise and capabilities in ESG, delivering highly relevant, high-quality services across Assurance and Advisory. We also continued to work toward our own Impact Plan ambitions. By making ESG the watermark underlying everything we do, we contribute to a more environmentally and socially sustainable society.
Navigating disruption: Agile and resilient
In 2025/2026, we mark the start of a new chapter in our strategy, centered on the theme “Navigating Disruption: Agile & Resilient.” With more uncertainty on the horizon, our ongoing investments in our people’s development and our organizational transformations will enable us to continue providing the high standards of quality and integrity that we and our stakeholders expect. We will keep learning, improving, and adding more value, focusing on the agility and resilience we need to navigate disruption in our market.
This would not be possible without the hard work of our people. I want to thank all KPMG colleagues for their flexibility in the face of change, their expertise and commitment in pursuit of quality, and their dedication to upholding our values and ethical culture. I also wish to thank my fellow Board of Management members for the strong collaboration we shared during the year, as well as our Supervisory Board for its insights and contributions. Particular thanks are due to outgoing Chair Bernard Wientjes for resuming his role temporarily and leading the Supervisory Board through a difficult chapter for our firm, and a warm welcome to new Chair Dirk Jan van den Berg and new member Barbara Frohn.
To our clients, thank you for your trust in our firm and our people. We remain committed to living up to this trust by staying close to you, by upholding our values, and, above all, by continuing to put people at the heart of what we do.
Stephanie Hottenhuis
CEO, KPMG N.V.