6. Governance and related parties

6.1 Key management remuneration

The members of the Executive Board and the Supervisory Board are the key management of the Group. The remuneration of members of the Executive Board comprises a fixed compensation plus a fixed expense allowance, and a long term bonus. As of June 1, 2017 the members of the Executive Board receive a fixed annual compensation plus fixed expense allowance. For the NSE business all Executive Board members have been involved and contributed in their respective capacity to various management work streams for NSE.

Total remuneration of the members of the Executive Board in the year under review was as follows:

Dagmar Enklaar and Rob Bergmans joined the Executive Board as of June 1. Dagmar Enklaar succeeded Oscar Snijders in the role of Chief Operating Officer (COO), and Rob Bergmans took over the role of Liesbeth Mol as Chief People & Quality Officer (CPQO).

The members of the Supervisory Board were remunerated only short-term benefits as follows:

6.2 Related party transactions

Trading transactions

Balances and transactions between the Company and its subsidiaries, which are related parties of the Company, have been eliminated on consolidation and are not disclosed in this note. All transactions were made on terms equivalent to those that prevail in arm’s length. Please refer to notes 1, 3.4, 4 and 5 for details on transactions of the Group and the Group’s shareholder. We also refer to note 1 regarding international relationships of Deloitte Holding B.V.

Deloitte NSE Investments Limited (“DNSEI”)

The Group subscribed to different classes of non-voting redeemable shares in Deloitte NSE Investments Limited (“DNSEI”), an NSE group entity set up to hold NSE group investments in strategic projects. The total amount subscribed was €6,138 (2022: €5,024). For the purposes of these financial statements, an amount of €5,260 (2022: €3,844) is accounted for as a deemed distribution and movement in net fair value on investments in equity instruments classified as at fair value through OCI to Deloitte NSE LLP. The remaining amount of €878 (2022: €1,180) is the fair value of this equity investment. See note 4.5 Investments

6.3 Fees paid to the independent auditor

The independent auditor’s fee included in the office costs can be specified as follows:

The independent auditor’s fee is based on the agreed upon fees for the audit and other engagements for the year under review and any additional fees for out of scope work regarding the prior year.