Long Association Rotation Marisa Orbea IESBA March 2013

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

Long Association Benchmarking Survey • • • 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? Page 2

Long Association Audit Committee Research • 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? Page 3

Long Association Regulator Research • • • 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? Page 4

Long Association Firm Research • 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? Page 5

Long Association Project Timeline Time Activity June 2013 Jurisdiction survey report to IESBA Sept 2013 Report on research to CAG Sept 2013 Report on research to IESBA, with preliminary recommendations Dec 2013 First read of proposed changes to the Code Q 1 2014 Consultation with CAG March 2014 IESBA approval of exposure draft Page 6