The Dutch Authority for the Financial Markets imposed a EUR 446,000 fine on Forvis Mazars Accountants N.V. after concluding that its quality management system and business operations did not prevent exam fraud within the firm. Staff shared answers, took exams together or received answers without reporting it, and the firm did not detect the misconduct. The AFM found that Forvis Mazars lacked specific policies, procedures, measures and safeguards to ensure exams were taken with integrity and received no internal reports about the behaviour. Forvis Mazars’ own investigation identified nearly 100 professionals involved in exam fraud between 2020 and 2023 across all levels, from junior staff to partners, including exams that are required to maintain knowledge and skills for certification as a statutory auditor. The AFM also pointed to sector-wide drivers such as time pressure, commercial interests, inadequate management and poor tone from the top, noting earlier exam-fraud fines imposed by the US Public Company Accounting Oversight Board in close cooperation with the AFM on Big Four firms. The case was resolved via a simplified settlement after Forvis Mazars accepted the fine; the AFM cited mitigating factors including the relatively limited role of internal tests in the firm’s quality system, the firm’s cooperation and measures taken to prevent recurrence, and treated the matter as concluded.
Dutch Authority for the Financial Markets 2025-10-31
Dutch Authority for the Financial Markets fines Forvis Mazars Accountants EUR 446,000 for quality control failures that enabled exam fraud
The Dutch Authority for the Financial Markets fined Forvis Mazars Accountants N.V. EUR 446,000 for failing to prevent exam fraud within the firm. Nearly 100 professionals were involved in misconduct from 2020 to 2023, with deficiencies in policies and safeguards identified. The case was settled after Forvis Mazars accepted the fine, with mitigating factors considered by the AFM.