International Standards Committee Update BKR International Worldwide Meeting 22 October 2013 The Shelbourne Hotel, Dublin, Ireland Jason CrostonSRJ Brisbane Australia

International Standards Committee Update JASON CROSTON (CHAIR – ASIA PACIFIC) FRANCISCO PERDOMO (AMERICAS) ANNE MOUHSSINE (EMEA) RETIRED DURING THE YEAR: SCOTT BATES (AMERICAS) SRJ Chartered Accountants Brisbane, Australia PSV & Co San Juan, Peurto Rico Exponens Paris, France Cornwell Jackson Dallas, Texas, USA

The activities of the ISC have reduced considerably since becoming an Association to ensure we are not perceived as a Network. The International and Regional Standards Committee have the following Charter: –To assist with reviewing prospective members –To provide updates on changes to ethical, audit, accounting and other standards –To provide assistance as requested by member firms to comply with standards –To prepare a calendar of training events at a regional level for members to attend as part of regional conferences or other specified training events –To review and approve mission statements prepared by the regional standards committees BKR International Standards Committee Charter

Regional Committees EMEA ANNE MOUHSSINE (CHAIR) PASCAL BEJON AHMED FOUAD ELWATAN WERNER KLEINSCHMIDT Exponens Paris, France SFC – Societe Francilienne Conseil, France Fouard Elwatan, Egypt Logista, South Africa Ulrich Viefers (Germany) now attends EGIAN meetings with Stephen Hamlet and assists with the EGIAN focus group for SMPs and SMEs

Regional Committees EMEA During the year the EMEA regional committee has undertaken the following: Held successful Audit Meeting in Amsterdam in November 2012 (70% of responses scored either Excellent or Above Average). Maintained documentation in the resources and EGIAN section of the EMEA website including current papers from a number of European bodies such as FEE(Federation of European Accountants) on the latest EC proposals on Audit policy and regulation. Participated in the quarterly Accounting and Audit Update Newsletter. Planning the 2013 Audit Meeting which will be held in November also in Amsterdam.

Regional Committees AMERICAS FRANCISCO PERDOMO (CHAIR) MANUEL RANGEL, JR ED SCHENKEIN LYNN WESTERGARD PSV & Co San Juan, Puerto Rico CPC Rangel, S.C. Mexico City, Mexico Stark Schenkein LLP Denver, Colarado, USA Schmidt Westergard & Company PLLC Phoneix, Arizona, USA

Regional Committees AMERICAS During the year the Americas regional committee: Completed 11 peer review reports on a voluntary basis. Held an Accounting and Audit training session at the Americas regional meeting. These are held at each meeting.

JASON CROSTON (Chair) NICK SELF KEITH SO TIM PARTRIDGE Regional Committees ASIA PACIFIC SRJ Chartered Accountants Brisbane, Australia Walker Wayland Auckland Ltd, Auckland, New Zealand East Asia Sentinel Limited Hong Kong, China AMD Chartered Accountants Bunbury, Australia

During the year the Asia Pacific regional committee has undertaken the following: Participated in the quarterly Accounting and Audit Update Newsletter. Presented a training session at the 2013 Asia Pacific Region Conference in Penang Malaysia on professional scepticism. Annual training day held in Melbourne Australia for members in Australia and New Zealand in February 2012 via Walker Wayland. Planned for March 2013 in Brisbane, Australia. Invitation extends to all members in the Asia Pacific Region. Created a database of quality control contacts in each firm to facilitate improved future communication Completed a survey of members to assess training needs. Regional Committees ASIA PACIFIC

Key results of survey: A mix of in person and webinar training preferred which is targeted at Partner and Manager level staff. Preferred location was at the annual conference each year with a format of 2 x 2 hour formal sessions and 1 x 2 hour discussion forum. Suggested topics included Quality Standards, IASs, IFRS and Forensic Audit. Feedback on Quarterly Audit and Accounting Update averaged at 7 out of 10. Regional Committees ASIA PACIFIC

International Standards Committee