1. BoA Chairman Joel L. Tan-Torres QAR Roadmap for Implementation

2. Milestones towards QAR Implementation ✓L✓L ifting the court injunction ✓C✓C ontinuing dialogue with stakeholders ✓R✓R eforming the regulatory framework ✓A✓A dopting interim measures ✓F✓F ull implementation of QAR ✓C✓C oordinating with other regulators

3. Lifting the Court Injunction ✓ Conduct final consultation with stakeholders ✓ Submit revised QAR resolution to PRC for approval ✓ Submit approved QAR resolution to RTC Caloocan and request for lifting of injunction ✓ TIME TABLE: May to July 2015

4. Milestones towards QAR Implementation ✓L✓L ifting the court injunction ✓C✓C ontinuing dialogue with stakeholders ✓R✓R eforming the regulatory framework ✓A✓A dopting interim measures ✓F✓F ull implementation of QAR ✓C✓C oordinating with other regulators

5. Continuing Dialogue with Stakeholders ✓ Issues ◉ QAR audit program ◉ Type of review/inspection Peer Contracted Permanent ◉ QA approaches and requirements for practitioners ◉ Governance issues ◉ Training of QA reviewers

6. EXPANDING HORIZONS Continuing Dialogue with Stakeholders ✓ Conduct information awareness campaign ✓ TIME TABLE: May to August 2015 QAR

7. Milestones towards QAR Implementation ✓L✓L ifting the court injunction ✓C✓C ontinuing dialogue with stakeholders ✓R✓R eforming the regulatory framework ✓A✓A dopting interim measures ✓F✓F ull implementation of QAR ✓C✓C oordinating with other regulators

8. Reforming the Regulatory Framework ✓ Coordinate with BIR and SEC in revising the audit threshold via joint IRR ✓ Utilize audit survey results to support the action ✓ Conduct information awareness campaign ✓ TIME TABLE: May to August 2015

9. Milestones towards QAR Implementation ✓L✓L ifting the court injunction ✓C✓C ontinuing dialogue with stakeholders ✓R✓R eforming the regulatory framework ✓A✓A dopting interim measures ✓F✓F ull implementation of QAR ✓C✓C oordinating with other regulators

10. Adopting Interim Measures ✓ Prescribe BoA resolution requiring practitioners to provide QAR reports ✓ Develop the Risk Based Red Flag System ✓ Develop benchmarks ✓ Conduct information awareness campaign ✓ TIME TABLE: July to December 2015

11. Milestones towards QAR Implementation ✓L✓L ifting the court injunction ✓C✓C ontinuing dialogue with stakeholders ✓R✓R eforming the regulatory framework ✓A✓A dopting interim measures ✓F✓F ull implementation of QAR ✓C✓C oordinating with other regulators

12. Full Implementation of QAR ✓ Collect fees together with accreditation renewal or applications ✓ Finalize the QAR audit program for QA reviewers ✓ Complete the organization and the core staffing ✓ Implement training program for reviewers

13. EXPANDING HORIZONS Full Implementation of QAR ✓ Conduct QAR on red flagged cases ✓ Conduct information awareness campaign ✓ TIME TABLE: July 2015 to June 2016

14. Milestones towards QAR Implementation ✓L✓L ifting the court injunction ✓C✓C ontinuing dialogue with stakeholders ✓R✓R eforming the regulatory framework ✓A✓A dopting interim measures ✓F✓F ull implementation of QAR ✓C✓C oordinating with other regulators

15. EXPANDING HORIZONS Coordinating with Other Regulators ✓ Finalize MOAs with SEC and BIR on implementation requirements ✓ Conduct information awareness campaign ✓ TIME TABLE: July 2015 to June 2016

16. Milestones towards QAR Implementation ✓ Lifting the court injunction ✓ Continuing dialogue with stakeholders ✓ Reforming the regulatory framework ✓ Adopting interim measures ✓ Full implementation of QAR ✓ Coordinating with other regulators