Buenos Aires 2006 Executive Director’s Report

Quality will ensure growth in: Turnover Referrals Credibility

We have proof that our strategy is working …….

Membership USA – LarsonAllen – Gordy Viere Three other firms are keen; in discussions with two others Turnover of nearly US$ 400 million Meeting in November of all USA members

Nexia Nederland Two new members Over 500 staff + partners Rank 7 th Constant Scholten and Willem Smeets

Congratulations – Danish merger Mortensen & Beierholm

Poland Mirek Kośmider – PROAUDIT – Krackow QCR by Germany New office in Warsaw

Italy Studio Associato – tax AudiRevi - audit

UK Scrutton Bland Largest independent providers of financial services in E Anglia Offers both traditional accountancy services and more innovative business advisory and development services Also Independent Financial Advisers and Insurance Brokers

Japan Tokyo Hokuto & Co.merged with Serizawa & Co.. New name - Gyosei & Co Gyosei means 'look up at the stars in the night sky' Ranked 8 th 110 total staff by end of 2006

PRC Beijing - Yongtuo Beijing CPAs 6 partners, over 200 staff and a turnover in excess of RMB 50m. Has licence to audit listed companies in China Also been registered with the PCAOB

Russia Nexia CIS is the exclusive representative of Nexia International in Russia and CIS countries Set up by Nexia Pacioli Ltd. – member since 1996 Coverage extends over 10 cities Three new companies planning to join

Austria Major alliance 10 or more offices Presentation on 23 rd November Would rank 7th

Central America/ Caribbean Panama British Virgin Islands Nevis

Ranking 8 th in Europe 7 th in Asia Pacific

Tax Conference Geneva Two day format Success

Farewell Reinhard Scholz Jon Wiggen

Thanks Larry Chastang Gareth Pearce Smith & Williamson hosting meetings Secretariat