1. Buenos Aires 2006 Executive Director’s Report

2. Quality will ensure growth in: Turnover Referrals Credibility

3. We have proof that our strategy is working …….

4. 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

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

6. Congratulations – Danish merger Mortensen & Beierholm

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

8. Italy Studio Associato – tax AudiRevi - audit

9. 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

10. 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

11. 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

12. 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

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

14. Central America/ Caribbean Panama British Virgin Islands Nevis

15. Ranking 8 th in Europe 7 th in Asia Pacific

16. Tax Conference Geneva Two day format Success

17. Farewell Reinhard Scholz Jon Wiggen

18. Thanks Larry Chastang Gareth Pearce Smith & Williamson hosting meetings Secretariat