2013 AGN INTERNATIONAL WORLD CONGRESS AGN INTERNATIONAL ACCOUNTING

2013 AGN INTERNATIONAL WORLD CONGRESS AGN INTERNATIONAL ACCOUNTING &AUDITING COMMITTEE PRESENTED BY LIAM MCQUAID VENICE, ITALY 24 TH SEPTEMBER 2013 1

Introducing Liam Mc. Quaid • Managing Partner – Duignan Carthy O’Neill, Dublin, Ireland • Director – AGN International & AGN Europe • Chair – AGN International Accounting & Auditing Committee (IAAC) • Member of – Financial Reporting Council – Technical Advisory Group • Member of Accounting Committee – Chartered Accountants Ireland 2

AGN INTERNATIONAL ACCOUNTING AND AUDITING COMMITTEE (IAAC) 3

AGN International Accounting & Auditing Committee (IAAC) Overview Background Achievements Future Plans Funding How IAAC can help you Conclusion 4

IAAC Background • Established in September 2011 by AGN International Board • Mission from AGN International Board: IFRS standards: Synopsis of new releases ISA issues: summary of new releases and best practice approach ISQC implementation support Source of information to resolve issues in respect of IFRS, ISA and quality related questions • Creation of training sessions • Liaison with regional structures/Boards on these matters • The final scope to be determined by the committee itself at its first meeting • • 5

IAAC Background cont. Current Committee Members Liam Mc. Quaid Chairman liammcquaid@ dcon. ie Pers Aswani Vice Chairman persaswani@ hazelmsfenton. com Marielos de Rueda Liz Gantnier Anton Kalanov John Nicklas mrueda@ pakyasoc. com lgantnier@ stegman. com kalanov@ interexpertiza. ru jnicklas@ meadenmoore. com Liam Mc. Quaid – Chair Hendang Tanusdjaja kapdhy@ yahoo. com Scott Walters swalters@ daszkalbolton. com 2 year term Pers Aswani – Vice Chair 6

IAAC - Achievements • 2 face-to-face meetings in Prague, Czech Republic (September 2011) and in New Orleans, USA (October 2012) • 7 Teleconference meetings sinception, 2 on Skype • 6 Newsletters issued (English and Spanish) • 4 IFRS Experts interviewed and appointed for IFRS Expert Database • Members advised of IAAC availability to answer IFRS/ISA/Accounting/Audit questions • Approval of Accounting Articles on AGN website 7

IAAC – Achievements cont. … • Global Audit Instructions produced in English and Spanish language • Forum created for discussions about audit and accounting related matters • Webinar on IFRS 13 completed • Webpage on AGN International Website Created • Presentation on IFRS at Asia Pacific 2013 Regional Meeting • Presentation on IFRS/IAAC at 2012 & on IAAC at 2013 AGN World Congress 8

IAAC: Future Plans & Work Programme • IFRS Share Groups • AGN IFRS Global Conference – AGN Members and Non Members • IFRS surveys and client interviews • Staff exchange • IFRS for SME’s considerations • Liaise with AGN International Tax Committee • XBRL • AGN Prize • Social Media • Marketing IAAC 9

IAAC: Future Plans & Work Programme cont. • Continue with 2011 – 2013 Achievements: • Meetings • Newsletter • IFRS Expert Database • Availability to answer member questions • Approval of accounting articles on AGN website • Forum • Webinars 10

IAAC - Funding • IAAC Budget £Stg 10, 000 per annum • One face-to-face meeting costs £Stg 10, 000 in airfares/accommodations • Committee Members receive no remuneration for time 11

How IAAC can help you • Present • Available to answer IFRS/ISA/Accounting/Audit inquiries • Newsletter for distribution • Database of 4 IFRS Experts to consult – seeking more candidates! • Global Audit instructions for AGN Audit Engagement • Forum for Discussions on Audit & Accounting topics • Webinar for training 12

How IAAC can help you cont. • In the Future • IFRS Share Groups • AGN IFRS Global Conference • IFRS Surveys and Client Interviews for client distribution • Staff Exchange 13

IAAC – Conclusion • IAAC is a valuable resource available to AGN members – Please Use It • Share your views and suggestions • IAAC Information on AGN International Website at: http: //www. agn. org/eseries/scriptcontent/international/iaaac/default. cfm “ Learning is the only thing the mind never exhausts, never fears, and never regrets” Leonardo Da Vinci 14

Contact Details Duignan Carthy O’Neill, Chartered Accountants 84 Northumberland Road, Dublin 4, Ireland Contact: Liam Mc. Quaid + 353 1 668 2404 liammcquaid@dcon. ie Web Site: www. dcon. ie 15