1. 2010 ASIA/PACIFIC CONFERENCE Quality Update Simon Riley, Nexia International Technical & Quality Manager

2. Quality Control Reviews (QCR) Why do we have Quality Control Reviews? What purpose do they serve? What does a QCR involve? Scope ISQC 1, under review (what do we mean by “quality”?), limited scope reviews More information: www.nexia.com www.nexia.com/members/audit_quality_review.p hpwww.nexia.com www.nexia.com/members/audit_quality_review.p hp

3. Quality Control Reviews (QCR) Approx 206 firms subject to QCR: currently firms providing audit & assurance services 3-4 year cycle YE 31/10/2010: approx 59 reviews NCA: 9, SA: 6, E: 25, MEA: 8, AP: 11 Cost of each review

4. Quality Control Reviews (QCR) Year-to-date (6 months ended 30 April 2010) we have performed 20 reviews on firms in the following countries: –Australia (5), Bahrain, Gibraltar, Holland (4), Hungary (3), Portugal, Russia (2), Spain (2), Turkey

5. Quality Control Reviews (QCR) Since 1 November 2009, we have also completed 9 reviews of firms in the following countries where the review visit took place in the 2008/09 financial year: –China (2), Hong Kong, Korea, Mongolia, Singapore (2), Switzerland, USA

6. Audit Software – CaseWare Our approach What have we done so far? – Webcast held on 8 Feb... available online at: https://www1.gotomeeting.com/register/219715208 https://www1.gotomeeting.com/register/219715208 What’s in the pipeline? – Global access arrangement – announcement pending – In the meantime, please contact me for more information

7. Independence Our approach What have we done so far? –Independence page on www.nexia.com member’s area http://www.nexia.com/members/independence.phpwww.nexia.com http://www.nexia.com/members/independence.php What’s in the pipeline? –https://nimo.nexia.comhttps://nimo.nexia.com –Guidelines on our approach to independence and request for member firms pending

8. IFRS Learning – Emile Woolf Professionally-recognised qualification in IFRS Regular IFRS updates Online study will become available: –https://clients.emilewoolf.comhttps://clients.emilewoolf.com Study guide (next slide)

9. IFRS Learning – Emile Woolf

10. Other initiatives Audit Manual revision (Audit Guide) Regular IFRS update webcasts Technical assistance Professional publications

11. Thank you!!! Comments... Questions...