CCPAACanadian-Chinese Professional Accountants Association (CCPAA)

Presented at China International Service Industries Forum on Nov 24, 2009 by Olivia Xie, CA (Canada), CPA (US)

Bridge to Success

www.ccpaa.ca

CCPAA

CCPAA ,,

CCPAA

2009

CCPAA

IPO (Initial Public Offerings) RTO (Reverse Takeover) CPC (Capital Pool Company)

4420(a): 400100: 110: 800: 5: 1,500: 100 (132)

4420(b): 400100: 110: 1,800: 52: 3,000:

4420(c): 400100: 110: 2,000: 5 : 7,500 7,500:

: 5,000 100: 250: 1: 13

: 300100 : 100(10%): 500 : 4: 15,000(/) : 5005,000(8)751 32

5001000

TSX-TSX-VentureCCPAAMajor sectors: miningOil & GasR & D investment Different listing requirements for different sectors, different requirements for same sector, TSX exempt vs. non-exempt in each sector TTSX-VentureTier 1 and tier 2 in each sector

CCPAAAccounting standards :Canadian GAAP US GAAP International Financial Reporting Standards (IFRS)

Auditing standards :Canadian GAAS U.S. GAAS International Standards on Auditing (ISA)

Financial StatementsCCPAAFinancial statements for companies going public in US or Canada::Audited financial statements by auditors registered by PCAOB (US) or CPAB (Canada) Interim period financial statements reviewed by auditorsPro forma financial statements for probable significant transactions, e.g. RTO, Management and CFO are responsible fore preparation of FS

CCPAA

Issuance of auditors opinion SOX 404 regarding internal control is required in US, but not required in Canada Review of listing documents Response to financial questions from underwriters, lawyers, SEC Issuance of comfort letters Issuance of consent letters Material Change or business acquisitions Reports (e.g 8K) National Instruments (NI) 43-101 report of mining companies in Canada

CCPAA

CCPAASOX,

CCPAA

CCPAA

CCPAA2010CFO

201087-2010814-

001-647-8382677philzhang@ccpaa.info www.ccpaa.ca