Colegio de Auditores o Contadores Públicos de Bolivia

The Colegio de Auditores o Contadores Públicos de Bolivia (CAUB) does not have legal authority to establish a mandatory quality assurance (QA) review system; however, it has undertaken initiatives to support the development and implementation of such a system for its members.

In 2012, CAUB established a voluntary QA review framework and conducted a pilot review with limited participation. It also created a Quality Control Review Committee and developed supporting materials, including a Quality Control Manual. Despite these efforts, the QA review system has not been operationalized, primarily due to limited regulatory support and low participation from firms.

CAUB has continued to engage with key stakeholders—including the Authority for Fiscal and Social Control of Businesses (AEMP), the Financial System Supervisory Authority (ASFI), and the Office of the Comptroller General—to promote the establishment of a mandatory QA review system aligned with SMO 1 requirements. These efforts have contributed to the adoption of ISA and quality control standards for audits of regulated entities under ASFI’s supervision.

To support implementation, CAUB delivers ongoing training and awareness initiatives, including Train-the-Trainers programs across its regional branches and collaboration with the Inter-American Accounting Association to provide capacity-building activities for small- and medium-sized practices. CAUB also disseminates information on quality management standards to its members and stakeholders.

As of 2025, CAUB continues to focus on strengthening awareness and preparing its members for the implementation of the IAASB’s quality management standards.

While CAUB has taken important steps toward establishing a QA review system, further progress is needed to achieve a unified and operational system aligned with SMO 1 requirements at the jurisdiction level.

Current Status: Execute

In accordance with Law No. 3911 of 1957, entry into the accountancy profession requires a university degree in accounting. The Ministry of Education, Ministry of Economy and Public Finance, universities, and regulators share responsibility for establishing initial professional development requirements. However, national requirements do not fully align with the International Education Standards (IES).

The Colegio de Auditores o Contadores Públicos de Bolivia (CAUB) plays a supporting role in promoting the adoption and implementation of IES requirements. CAUB has established cooperation agreements with universities and works with the Executive Committee of the Bolivian University to encourage the incorporation of updated IES into accounting curricula.

As part of a Multilateral Investment Fund (FOMIN) project, CAUB commissioned a review of accounting curricula against IES requirements, resulting in the development of a model curriculum for use by universities. Since 2013, CAUB has continued to engage with universities through meetings, seminars, and conferences aimed at supporting the integration of IES into academic programs.

CAUB has also promoted continuing professional development through training activities, including programs focused on IFRS and ISA. In addition, a voluntary certification framework incorporating elements such as final assessment, practical experience, and CPD was developed; however, implementation of this framework remains limited.

Despite these efforts, progress toward full alignment with IES is constrained by the autonomy of universities in setting curricula and the absence of mandatory national requirements aligned with IES.

CAUB is encouraged to continue its engagement with universities and regulators to support the adoption and implementation of IES requirements and to further develop structured continuing professional development requirements for its members.

Current Status: Execute

The Colegio de Auditores o Contadores Públicos de Bolivia (CAUB) does not have final legal authority for the adoption of auditing standards; however, it plays a central role in the standard-setting process through its National Technical Board of Auditors and Accountants (CTNAC), to which the Authority for Fiscal and Social Control of Businesses (AEMP) has delegated technical standard-setting responsibilities. Standards issued by CTNAC require formal approval by the AEMP through Administrative Resolutions to become legally enforceable.

Through CTNAC, CAUB has led the convergence of national auditing standards with International Standards on Auditing (ISA). In 2015, CTNAC adopted ISA by reference as issued by the IAASB, and in 2021, these standards were approved by the AEMP through Administrative Resolution No. 009/2021. CAUB has supported this process through sustained engagement with regulators and stakeholders.

CAUB continues to promote the implementation of ISA through ongoing professional development activities, including conferences, seminars, and a voluntary certification program. It also disseminates technical materials and guidance to members, universities, and other stakeholders to support the consistent application of auditing standards.

In addition, CAUB engages with regulators, including the AEMP and the Financial System Supervisory Authority (ASFI), to support the consistent application of ISA across the jurisdiction. These efforts have contributed to the adoption of ISA for audits of regulated entities.

At the international level, CAUB participates in the standard-setting process through its involvement with the Inter-American Accounting Association (AIC), including contributing to comment letters on IAASB exposure drafts and supporting regional translation initiatives.

Through these established and ongoing activities, CAUB maintains well-developed processes to support the adoption and implementation of ISA and continues to enhance its contributions in line with SMO 3 requirements.

Current Status: Sustain

In Bolivia, ethical requirements for professional accountants are established in Law No. 3911 of 1957, with additional requirements applied through professional accountancy organizations (PAOs) on a voluntary basis.

The Colegio de Auditores o Contadores Públicos de Bolivia (CAUB) establishes ethical requirements for its members through its Ethics Council, which is responsible for setting, updating, and monitoring compliance with ethical standards. Membership in CAUB is mandatory for statutory auditors and voluntary for other professionals.

CAUB has adopted the International Code of Ethics for Professional Accountants (including International Independence Standards) by reference, as issued by the International Ethics Standards Board for Accountants (IESBA), and maintains ongoing processes to incorporate updates to the Code.

To support implementation, CAUB provides regular training through conferences and seminars, disseminates updates and guidance through its publications and website, and contributes to regional initiatives aimed at developing high-quality Spanish translations of international standards. CAUB also engages with universities to promote the incorporation of ethical requirements into accounting curricula.

CAUB is encouraged to continue promoting the adoption of the latest version of the IESBA Code to other professional accountancy organizations in the jurisdiction and to seek clarification on the version currently being applied.

Current Status: Sustain

Public sector accounting standards in Bolivia are established by the Office of the Comptroller General of the State, which has developed national standards based on a partial accrual framework.

The Colegio de Auditores o Contadores Públicos de Bolivia (CAUB) does not have direct responsibility for the adoption of public sector accounting standards. Within the scope of its mandate, CAUB undertakes activities to promote the adoption and implementation of International Public Sector Accounting Standards (IPSAS).

CAUB has engaged with the Comptroller General and other stakeholders to raise awareness of IPSAS and international developments. In 2017, CAUB signed a cooperation agreement with the Comptroller General to promote IPSAS, support institutional coordination, and strengthen audit practices.

To support implementation, CAUB disseminates IPSAS-related materials and updates to its members, including sharing the Spanish translation of the IPSAS Handbook and other resources issued by the IPSASB.

Given the nature of its mandate and the legal and regulatory framework in Bolivia, CAUB demonstrates ongoing efforts to promote IPSAS and fulfill its SMO 5 obligations.

Current Status: Sustain

The Colegio de Auditores o Contadores Públicos de Bolivia (CAUB) is responsible for establishing and operating an investigative and disciplinary (I&D) system for its members, including statutory auditors on a mandatory basis and other professionals who join on a voluntary basis.

CAUB has established an Ethics Council at the national level and Ethical Tribunals within its nine departmental colegios, which are responsible for investigating and disciplining members.

CAUB has undertaken reforms to strengthen its I&D system. In 2014, it assessed its policies and procedures against the requirements of SMO 6 and identified areas for improvement. A reform project was subsequently approved in 2017, and in 2020, CAUB achieved a key milestone with the approval and legal recognition of its updated statutes and internal regulations through Ministerial Resolution No. 161/20. These reforms were aimed at enhancing alignment with international best practices.

To support implementation, CAUB has conducted training and awareness activities for its members on investigative and disciplinary procedures.

While CAUB reports that its I&D system has been aligned with SMO 6 requirements, further progress is needed to demonstrate consistent implementation and to promote the development of a comprehensive I&D system applicable to all professional accountants in the jurisdiction.

Current Status: Execute

The Authority for Fiscal and Social Control of Businesses (AEMP) is legally responsible for the approval and issuance of accounting standards in Bolivia. The Colegio de Auditores o Contadores Públicos de Bolivia (CAUB), through its National Technical Board of Auditors and Accountants (CTNAC), plays a key technical role in the standard-setting process.

Through CTNAC, CAUB contributed to the adoption of International Financial Reporting Standards (IFRS) and the IFRS for Small- and Medium-sized Entities (IFRS for SMEs), which were issued by CTNAC in 2012 and subsequently approved by the AEMP through Administrative Resolution No. 009/2021. This outcome reflects sustained engagement by CAUB with regulators and stakeholders.

CAUB supports the implementation of IFRS and IFRS for SMEs through ongoing professional development activities, including training programs, conferences, and certification initiatives. It disseminates standards and related materials to members and promotes their incorporation into university curricula.

At the international level, CAUB participates in regional and global standard-setting activities, including contributing to comment letters through the Inter-American Accounting Association and participating in IFRS Foundation Spanish translation initiatives.

Given the nature of its mandate and the legal and regulatory framework in Bolivia, CAUB maintains well-established processes to support the adoption and implementation of IFRS and continues to enhance its activities in line with SMO 7 requirements.

Current Status: Review & Improve