Peru
Methodology
Last updated: 05/2016
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Member Organizations
Member Associate
Legal and Regulatory Environment
The financial reporting framework in Peru is established by the Code of Commerce of 1902 and the Company Law of 1997. The Code of Commerce establishes the obligation for companies to keep books of accounts and provides...
According to Law No. 28951 of 2007, professional accountants in Peru are regulated in each of the Departments, which are regional jurisdictions within the country, by the Departmental Associations of Public Accountants...
No independent audit oversight arrangement exists in Peru. Law No. 28951 of 2007 does, however, authorize the Departmental Associations of Public Accountants to set auditing standards and ethical requirements, carry out...
The Junta de Decanos de Colegios de Contadores Públicos de Perú (JDCCPP) was established by Law No. 25892 of 1992 as an umbrella organization, with mandatory membership, uniting representatives from the 24 Departmental...
No information is available on development projects or initiatives in Peru...
Adoption of International Standards
There is no requirement for quality assurance (QA) reviews for audits of financial statements in Peru. Law No. 28951 authorizes the Departmental Associations of Public Accountants to regulate the auditors and firms in...
Law No. 28951 of 2007 empowers the Departmental Associations of Public Accountants to regulate professional accountants. To practice the profession, individual public accountants must be members of their respective...
Law No. 28951 of 2007 grants authority to the Departmental Associations of Public Accountants to set auditing standards for all audits. The Junta de Decanos de Colegios de Contadores Públicos de Perú (JDCCPP) has...
Law No. 28951 of 2007 grants authority to the Departmental Associations of Public Accountants to set ethical requirements for their members. The Junta de Decanos de Colegios de Contadores Públicos de Perú (JDCCPP) has...
According to Law No. 28708 On the National System of Accounting, the National Direction of Public Accounting (DGCP) under the Ministry of Economy and Finance establishes public sector accounting standards. The DGCP has...
Law No. 28951 of 2007 empowers the Departmental Associations of Public Accountants to investigate and discipline their members. The Law requires the establishment of an Honor Tribunal in each association. Article 10 of...
In accordance with Law No. 28708 of 1987 On the National Accounting System, the Accounting Standards Board (CNC)—which operates under the auspices of the National Direction of Public Accounting (DGCP), which is part of...
Relevant OrganizationsJunta de Decanos de Colegios de Contadores Públicos de Perú (JDCCPP)Consejo Normativo de Contabilidad (MEF)Superintendente de Bancos, Seguros, y AFP (SBS) Superintendencia del Mercado de Valores...
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