We have been engaged by the directors of International Personal Finance plc (‘the Company’) to perform an independent assurance engagement in respect of selected key performance indicators (hereafter ’Selected Information’) in the International Personal Finance plc Annual Report and Financial Statements for the year ended 31 December 2010.

The Selected Information for the year ended 31 December 2010 subject to limited assurance is presented on the Key Performance Indicators page and marked with . It consists of the following:

• customer numbers;
• customer retention;
• agent numbers;
• agent retention;
• credit exceptions; and
• Customer Service Score.

We also assured the restatement of the 31 December 2009 data for customer retention. This was performed based on new criteria defined. This information can be found on the Key Perfomance Indicators page and marked with .

Assurance work performed

We conducted this limited assurance engagement in accordance with International Standard on Assurance Engagements 3000 (Revised) – ‘Assurance Engagements other than Audits or Reviews of Historical Financial Information’ (‘ISAE 3000’) issued by the International Auditing and Assurance Standards Board.

A limited assurance engagement is substantially less in scope than a reasonable assurance engagement under ISAE 3000. Consequently, the nature, timing and extent of procedures for gathering sufficient appropriate evidence are deliberately limited relative to a reasonable assurance engagement.

Our limited assurance procedures included:

• making enquiries of relevant management of the Company, including the Senior Management Group, and reviewing a sample of relevant management information including reports to the Senior Management Group;
• evaluating the design and implementation of the key processes and controls for managing and reporting the Selected Information, including controls over third party information where applicable;
• limited testing, on a selective basis at central and country level, of the preparation and collation of the Selected Information prepared by the Company;
• reviewing internal audit reports where the terms of reference and / or findings are relevant to the Selected Information; and
• undertaking analytical procedures over the reported data.

Limitations

Non-financial performance information is subject to more inherent limitations than financial information, given the characteristics of the subject matter and the methods used for determining such information. The absence of a significant body of established practice on which to draw allows for the selection of different but acceptable preparation techniques which can result in materially different results and can impact comparability. Furthermore, the nature and methods used to determine such information, as well as the criteria may change over time. It is important to read the Selected Information in the context of the Basis of Preparation at www.ipfin.co.uk/cr/basisofreporting.

The Customer Service Score results rely on information from a customer interview programme; in one country interviews are conducted by a third party organisation. Our assurance work has not included an examination of the interview exercises or the information provided by the customers.

Conclusion

Based on the results of the assurance work performed, nothing has come to our attention that causes us to believe that, for the year ended 31 December 2010, the Selected Information has not been prepared, in all material respects, in accordance with the Company’s Basis of Preparation.

PricewaterhouseCoopers LLP
Chartered Accountants
Edinburgh
2 March 2011

Respective responsibilities of the directors and PricewaterhouseCoopers LLP

The directors are responsible for the preparation of the Selected Information in accordance with the criteria set out in the Company’s ‘Basis of Preparation’ (see www.ipfin.co.uk/cr/basisofreporting), and for the development of the criteria.

Our responsibility is to form a conclusion, based on limited assurance procedures, on whether anything has come to our attention to indicate that the Selected Information has not been prepared, in all material respects, in accordance with the Company’s Basis of Preparation.

This report, including the conclusion, has been prepared for the directors of the Company as a body, to assist the directors in reporting the Company’s performance. We permit the disclosure of this report within the Annual Report and Financial Statements for the year ended 31 December 2010, to enable the directors to demonstrate they have discharged their governance responsibilities by commissioning an independent assurance report in connection with the Selected Information. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the directors as a body and the Company for our work on this report save where terms are expressly agreed and with our prior consent in writing.