Pkf International Limited Is Named Amongst the First Full Members of the Forum of Firms After Meeting International Quality and Ethics Requirements

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Contacts: Eric Tait - 0044 (0) 20 7065 0105 [email protected]

PKF INTERNATIONAL LIMITED IS NAMED AMONGST THE FIRST FULL MEMBERS OF THE FORUM OF FIRMS AFTER MEETING INTERNATIONAL QUALITY AND ETHICS REQUIREMENTS.

24 January 2008 – PKF International today announced that it has been named one of the first full members of the Forum of Firms. The Forum of Firms, formally established in 2002, is an association of international networks of accounting firms. These firms perform audits of financial statements that are or may used across national borders. The Forum’s goal is to promote consistent and high quality standards of financial reporting and auditing practices worldwide.

In order to achieve full membership status PKF International had to commit to meet the Forum’s membership obligations, which require members to: • Maintain appropriate quality control standards in accordance with International

Standards on Quality Control issued by the International Auditing and Assurance

Standards Board (IAASB) in addition to relevant national quality control standards

and conduct, to the extent not prohibited by national regulation, regular globally

coordinated internal quality assurance reviews;

• Have policies and methodologies for the conduct of transnational audits that are

based, to the extent practicable, on ISAs issued by the IAASB; and

• Have policies and methodologies that conform to the IFAC Code of Ethics for

Professional Accountants and national codes of ethics.

“In the light of the globalisation of business and capital flows, the public interest can only be served through globally consistent and high quality standards in auditing. PKF International is proud to be amongst the first group of members of the Forum of Firms.” said Wolfgang Hoffman, Chairman of the Board of PKF International. “This is a demonstration of our commitment to quality and high standards in international auditing,”

The Forum of Firms conducts its business through its executive arm, the Transnational Auditors Committee (TAC), which is also a committee of the International Federation of Accountants (IFAC) – Theo Vermaak, a member of the PKF International Professional Standards Committee is a member of the TAC.

As of January 2008, of the 21 Forum members, 17 are full members and four are provisional members, a full list is attached.

About PKF International PKF International is among the top international advisory organisations, measured by turnover and quality with over 200 legally independent member firms located in 119 countries and an annual turnover of $1.7 billion. Our member firms share a commitment to providing clients with high quality, partner-led services that are tailored to meet each client’s own specific requirements.

The membership base of PKF International has remained solid since the association was formed in 1969. Added to the sustained growth in the number of PKF member firms, this solidity has provided the foundations for the global sharing of expertise, experience and skills and the development of services that meet the evolving needs of all types of client, from the individual entrepreneur up to the transnational company. The international services provided by member firms include:

- Assurance & Advisory - Insolvency – Corporate & Personal - Financial Planning - Taxation - Corporate Finance - Forensic - Management Consultancy - IT Consultancy

Such a close network of member firms, each firmly established and respected in its own country, enables member firms to provide a global perspective whilst delivering services with a local focus.

Full Members

Baker Tilly International BDO International Constantin Associates Deloitte Touche Tohmatsu Ernst & Young Global Limited Grant Thornton International HLB International Horwath International Association INPACT Audit KPMG International Mazars PKF International PricewaterhouseCoopers International RSM International Limited Russell Bedford International Talal Abu-Ghazaleh International UHY International

Provisional Members

IEC JHI Moore Stephens International Polaris International