BDO Fined €765,000 in Dutch Exam Fraud Scandal as Accounting Industry Oversight Gains Focus

Dutch regulators have imposed a €765,000 fine on accounting firm BDO after discovering widespread exam cheating among hundreds of its employees between 2018 and 2023, raising fresh concerns about integrity controls in the professional services sector.

Background and Context

The Netherlands Authority for the Financial Markets (AFM) investigation revealed that BDO failed to establish adequate safeguards to prevent exam fraud, with employees sharing answers and collaborating on mandatory certification tests across all levels of the organization. The exams are designed to ensure auditors maintain required professional standards and knowledge.

Key Figures and Entities

The AFM found BDO lacked clear policies and procedures to guarantee exam integrity, representing a significant failure in professional oversight. The regulator noted that "auditors add credibility to companies' financial statements, so their integrity must be beyond doubt." BDO conducted its own internal investigation and has accepted the penalty, implementing new measures to prevent future violations.

Legal and Financial Mechanisms

The financial penalty was reduced from initial calculations because BDO had taken remedial steps to address the systemic issues. The Dutch regulator has been conducting broader investigations into professional standards across the accounting industry, with exam fraud emerging as a recurring problem at multiple firms.

International Implications and Policy Response

BDO's case follows similar enforcement actions against other major accounting firms. Earlier in 2025, Forvis Mazars received a €446,000 fine after discovering nearly 100 employees engaged in exam cheating between 2020 and 2023. In the United States, the Public Company Accounting Oversight Board has imposed multi-million-dollar penalties on Deloitte, PwC, EY, and KPMG for similar violations. KPMG previously faced a $25 million penalty for exam fraud, though the firm has since been released from enhanced supervision by Dutch regulators.

Sources

This report draws on regulatory statements from the Netherlands Authority for the Financial Markets (AFM), BDO's internal investigation findings, and reporting by ANP covering enforcement actions against accounting firms in 2025.