1. Page 1 Long Association (Rotation) Marisa Orbea IESBA March 2013 New York, USA

2. Page 2 Partner rotation provisions in a wide range of jurisdictions. Survey distributed to two of the large firms’ networks. 90 responses received to date. Significant resources and time needed to analyze. Analysis to the Board at its June 2013 meeting. Any comments on the jurisdiction survey? Benchmarking Survey Long Association

3. Page 3 Electronic Survey proposed. To identify factors used to evaluate the objectivity of the auditor. Possible review of guidance provided by their representative bodies or regulators. Does IESBA support the proposed research and any comments on proposed survey questions? Audit Committee Research Long Association

4. Page 4 Included in benchmarking survey questions. IESBA Consultative Advisory Group (CAG) IESBA-National Standard Setters (NSS) liaison group. Inspection and other reports by IFIAR members. Does IESBA support the proposed research? Regulator Research Long Association

5. Page 5 Invite views of the larger firms through the members of the IESBA Obtain views of a sample of SMPs through the IFAC SMP Committee. Does IESBA support the proposed research of firms’ views? Firm Research Long Association

6. Page 6 Project Timeline Long Association TimeActivity June 2013Jurisdiction survey report to IESBA Sept 2013Report on research to CAG Sept 2013 Report on research to IESBA, with preliminary recommendations Dec 2013First read of proposed changes to the Code Q1 2014Consultation with CAG March 2014IESBA approval of exposure draft