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 consist of a fixed part, determined by the Supervisory Board at the beginning of the financial year in accordance with the remuneration policy, plus a fixed expense allowance, and a variable part. The variable part of the remuneration shall not exceed a maximum of 20 percent of the fixed part of the remuneration. Payment thereof is subject to the fulfillment of long term objectives. 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:

Harvey Christophers joined the Executive Board as of January 26, 2024. Harvey Christophers succeeded Rob Bergmans in the role of 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 cumulative amount subscribed was €6,654 (2023: €6,138). For the purposes of these financial statements, a cumulative amount of €5,776 (2023: €5,260) 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 cumulative amount of €838 (2023: €878) 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.