Measure 31/10/25

AFM fines Forvis Mazars for exam fraud

The Dutch Authority for Financial Markets (AFM) has imposed an administrative fine on Forvis Mazars Accountants N.V. of €446.000 on October 29, 2025 because its system of quality control and business operations failed to prevent exam fraud. Forvis Mazars employees shared exam answers or worked together when making exams. This was unbeknownst to the audit firm. The AFM is of the opinion that this is a serious violation and reason for a fine.

In short

Employees committed exam fraud
Forvis Mazars did not prevent nor detect exam fraud
Exam fraud in the sector is a manifestation of a deeper underlying problem
Fine with simplified procedure

Employees committed exam fraud

The AFM determined that Forvis Mazars did not have specific policies, procedures, measures or controls for taking exams with integrity. Forvis Mazars conducted its own investigation that revealed fraudulent behaviour when making exams by almost 100 of its professionals over the period 2020 until 2023. These professionals shared answers, worked together when making exams or received answers without notifying the firm (speak up). The exam fraud occurred in all layers of the organization, from employee to partner. A proportion of the exams are mandatory to maintain professional knowledge and skills for the certification as an auditor.

Forvis Mazars did not prevent nor detect exam fraud

It is expected from an audit firm that it structures its business operations and system of quality control such that harmful behaviour like this does not occur. However, Forvis Mazars did not prevent nor detect exam fraud within its organisation. For example, Forvis Mazars did not receive any internal notifications from employees. The AFM has concluded that Forvis Mazars failed in its business operations in general and its system of quality control in particular and therefore imposes a fine.

Exam fraud in the sector is a manifestation of a deeper underlying problem

Exam fraud is related to factors such as time pressure, commercial interests, the lack of adequate guidance and incorrect exemplary behaviour. Previously the American regulator PCAOB imposed fines in close collaboration with the AFM on the Big 4-firms for exam fraud.

Fine with simplified procedure

The AFM is of the opinion the violations are serious, especially because, with their audits, audit firms add assurance to the annual reports of companies. Therefore the credibility of an audit firm must be beyond doubt. A fine is therefore appropriate. Fine-reducing circumstances are that internal exams played a relatively small role in the system of quality control at Forvis Mazars. In addition, the audit firm has cooperated with the investigation, Forvis Mazars recognizes the importance of culture and behaviour in relation to exam fraud and is imposing measures to prevent repetition. Forvis Mazars has accepted the fine and the matter has been settled through a simplified procedure. The matter has therefore been closed.