Federación Argentina de Consejos Profesionales de Ciencias Económicas

In Argentina, quality assurance arrangements remain differentiated by sector. Audits of entities regulated by the Banco Central de la República Argentina and the Comisión Nacional de Valores are subject to supervisory and review arrangements established by the respective regulators. While both regulators appear to conduct oversight and review activities for external auditors, it remains unclear whether these systems fully incorporate all the requirements and best practices of SMO 1. The position of the Superintendencia de Seguros de la Nación with respect to a comprehensive quality assurance review system for auditors of insurance entities is also not clear.

For audits outside the scope of the financial sector regulators, the provincial professional councils generally defer to the auditing and quality management standards issued by the Federación Argentina de Consejos Profesionales de Ciencias Económicas. At the standard-setting level, the federation has adopted the International Standards on Quality Management 1 and 2 and revised ISA 220 through Circular No. 7. However, a unified, mandatory quality assurance review system covering all such audits has not yet been established across the federated framework.

The Federación Argentina de Consejos Profesionales de Ciencias Económicas, through its Consejo Elaborador de Normas de Contabilidad y de Auditoría, has continued to undertake activities aimed at progressing implementation of a quality assurance review system. These activities have included evaluating the feasibility of a national framework, benchmarking international and regional practices, conducting stakeholder consultations, and providing training and awareness-raising activities on quality management and quality assurance review concepts. The federation has also maintained a dedicated commission to consider the formal development and implementation of a quality assurance review system.

Accordingly, the federation continues to be assessed at Execute, as it is actively progressing work toward fulfillment of its obligations under SMO 1, but a mandatory and operational quality assurance review system aligned with SMO 1 requirements has not yet been fully established.

The Federación Argentina de Consejos Profesionales de Ciencias Económicas should prioritize the development of a clear implementation roadmap and timeline for a unified and mandatory quality assurance review system across the provincial councils, while continuing to engage with the Banco Central de la República Argentina, the Comisión Nacional de Valores, and the Superintendencia de Seguros de la Nación to promote alignment of existing sectoral review systems with SMO 1 best practices.

Current Status: Execute

In Argentina, responsibility for initial and continuing professional development requirements is shared among universities, the provincial professional councils, and sector regulators for specific segments of the profession. Under Law No. 20,488 of 1973, individuals must hold a university degree in public accountancy and register with the professional council of the relevant jurisdiction in order to practice as a professional accountant. Auditors providing services to regulated entities are subject to additional experience and registration requirements established by the Banco Central de la República Argentina, the Comisión Nacional de Valores, and the Superintendencia de Seguros de la Nación.

Given that the Federación Argentina de Consejos Profesionales de Ciencias Económicas does not have direct legal authority to establish jurisdiction-wide educational requirements for entry into the profession, its role under SMO 2 remains focused on promoting alignment with the International Education Standards among the relevant authorities, including universities, the provincial professional councils, and sector regulators.

The Federación Argentina de Consejos Profesionales de Ciencias Económicas has continued to support incorporation of the International Education Standards through advocacy and coordination activities. These include engagement with the Consejo de Decanos de Facultades de Ciencias Económicas to promote supervised professional practice within university curricula, dissemination of the International Education Standards through national and international technical forums, and continued professional development support through its Sistema Federal de Actualización Profesional.

The federation has also historically undertaken comparative analyses of local educational requirements against the International Education Standards and promoted dialogue with academic institutions and regulators regarding possible areas of alignment, including practical experience requirements and continuing professional development.

Accordingly, the federation continues to be assessed at Execute, as it is actively carrying out activities to promote and support alignment with SMO 2 requirements, while formal adoption of the latest International Education Standards requirements at the jurisdiction level remains unclear.

The Federación Argentina de Consejos Profesionales de Ciencias Económicas should continue to update its gap analysis against the latest International Education Standards and develop a structured roadmap with universities, the provincial professional councils, and sector regulators to promote stronger alignment of entry, practical experience, assessment, and continuing professional development requirements with the current standards.

Current Status: Execute

In Argentina, auditing requirements are differentiated by sector. Entities whose securities are publicly traded and regulated by the Comisión Nacional de Valores, as well as other entities subject to statutory audit requirements, are required to apply the International Standards on Auditing through the professional framework established by the Federación Argentina de Consejos Profesionales de Ciencias Económicas. The Banco Central de la República Argentina and the Superintendencia de Seguros de la Nación also establish additional sector-specific audit requirements for entities under their supervision.

At the national professional level, the Federación Argentina de Consejos Profesionales de Ciencias Económicas, through its Consejo Elaborador de Normas de Contabilidad y de Auditoría, issued Technical Resolution No. 32, which adopts the International Standards on Auditing by reference. In accordance with Law No. 20,488 of 1973, each provincial professional council retains legal authority within its jurisdiction; however, in practice, the provincial councils generally adopt and apply the standards issued by the federation.

To support ongoing adoption and implementation, the Federación Argentina de Consejos Profesionales de Ciencias Económicas maintains active technical monitoring of new and revised pronouncements issued by the International Auditing and Assurance Standards Board and updates the national framework through adoption circulars and technical resolutions as needed. The federation also participates in the international standard-setting process through the review of exposure drafts and submission of comments on proposed standards.

To facilitate implementation by members, the federation provides continuing professional development activities, technical implementation guidance, and training sessions on auditing standards, including through its national congresses and other professional forums. It also continues to engage with the Banco Central de la República Argentina and the Superintendencia de Seguros de la Nación regarding sector-specific auditing requirements and possible further alignment with the International Standards on Auditing where feasible.

Accordingly, the Federación Argentina de Consejos Profesionales de Ciencias Económicas maintains well-established ongoing processes to support adoption, implementation, and continuous updating of the International Standards on Auditing and continues to be assessed at Sustain.

Current Status: Sustain

In Argentina, ethical requirements for professional accountants operate within a decentralized framework under Law No. 20,488 of 1973, with the provincial professional councils regulating professional practice within their respective jurisdictions.

At the national professional level, the Federación Argentina de Consejos Profesionales de Ciencias Económicas has established an ongoing framework for adoption and implementation of the International Code of Ethics for Professional Accountants (including International Independence Standards) issued by the International Ethics Standards Board for Accountants. Through Technical Resolution No. 34, the federation adopts the international code by reference and updates it through subsequent technical resolutions and adoption circulars. The current consolidated text reflects amendments through Technical Resolution No. 61, approved on September 26, 2025.

The federation continues to monitor new and revised pronouncements issued by the International Ethics Standards Board for Accountants and incorporates these into the national framework through its established technical standard-setting processes. Where local ethical requirements in force at the provincial level are more restrictive, the stricter provision applies, thereby preserving jurisdiction-specific requirements while maintaining alignment with the international code.

To support implementation, the Federación Argentina de Consejos Profesionales de Ciencias Económicas provides technical guidance, continuing professional development activities, and dissemination of updates on ethical and independence requirements through its national congresses, technical commissions, and professional development channels. The federation also continues to coordinate with the provincial professional councils to promote consistent application of the updated ethical framework across the federated system.

Accordingly, the Federación Argentina de Consejos Profesionales de Ciencias Económicas maintains well-established ongoing processes to support adoption, implementation, and continuous updating of the International Code of Ethics for Professional Accountants (including International Independence Standards) and is assessed at Sustain.

Current Status: Sustain

The Federación Argentina de Consejos Profesionales de Ciencias Económicas does not have legal authority to establish public sector accounting standards in Argentina. Responsibility for public sector financial reporting rests with the Contaduría General de la Nación under Law No. 24,156 of 1992.

Although International Public Sector Accounting Standards have not been formally adopted in Argentina, the Contaduría General de la Nación applies accrual-basis national public sector accounting standards and has undertaken studies and reform initiatives aimed at closer harmonization with the International Public Sector Accounting Standards framework.

Despite its lack of direct authority in this area, the Federación Argentina de Consejos Profesionales de Ciencias Económicas continues to maintain proactive and ongoing best-endeavor activities in support of SMO 5. Through its Consejo Elaborador de Normas de Contabilidad y de Auditoría, the federation has developed technical recommendations and conceptual work relevant to public sector financial reporting, including recommendations aligned with the principles of accrual-basis International Public Sector Accounting Standards.

To further support convergence and implementation, the federation continues to engage with the Contaduría General de la Nación and other public sector stakeholders, disseminates updates and developments issued by the International Public Sector Accounting Standards Board, participates in international standard-setting consultations through comment letters on exposure drafts, and provides professional development and training activities on public sector accounting topics through its national congresses and other technical forums.

Accordingly, the Federación Argentina de Consejos Profesionales de Ciencias Económicas maintains well-established ongoing processes to support adoption and implementation efforts in the public sector within the scope of its mandate and continues to be assessed at Sustain.

Current Status: Sustain

In Argentina, the provincial professional councils are legally responsible for establishing and operating investigative and disciplinary systems for their members within their respective jurisdictions under Law No. 20,488 of 1973. These systems include authority to investigate professional misconduct, apply sanctions, and provide for appeal through the competent judicial tribunals.

The Federación Argentina de Consejos Profesionales de Ciencias Económicas, as the national coordinating body of the federated system, continues to work with the provincial professional councils to promote alignment of their investigative and disciplinary frameworks with the requirements and best practices of SMO 6.

The federation has undertaken comparative reviews of the provincial systems against SMO 6 requirements, including an initial benchmarking exercise in 2012 and an updated review in 2023 aimed at identifying remaining gaps and recommending improvements to strengthen consistency and alignment across jurisdictions.

Given the decentralized regulatory framework in Argentina, implementation of changes remains dependent on the legal and governance arrangements of each provincial council. Depending on the jurisdiction, amendments may require a provincial decree, approval by an assembly of professionals, or resolution of the board of directors of the relevant council.

Accordingly, the Federación Argentina de Consejos Profesionales de Ciencias Económicas is assessed at Review & Improve, reflecting that investigative and disciplinary systems are already established and operational across the provincial councils, and that the federation is actively reviewing those systems and promoting enhancements to improve alignment with SMO 6 requirements.

The Federación Argentina de Consejos Profesionales de Ciencias Económicas should continue to work with the provincial professional councils to develop a more harmonized framework for investigative and disciplinary processes, with particular focus on ensuring alignment with SMO 6 best practices, including consistent initiation procedures, sanctioning mechanisms, public interest transparency, and appeal processes across all jurisdictions.

Current Status: Review & Improve

In Argentina, responsibility for financial reporting standards is shared among the provincial professional councils, the financial sector regulators, and the Federación Argentina de Consejos Profesionales de Ciencias Económicas. For entities outside the financial sector, the provincial professional councils generally adopt and apply the standards issued by the federation, while entities under sectoral supervision are subject to the requirements of the Banco Central de la República Argentina, the Comisión Nacional de Valores, and the Superintendencia de Seguros de la Nación.

Through its Consejo Elaborador de Normas de Contabilidad y de Auditoría, the Federación Argentina de Consejos Profesionales de Ciencias Económicas plays a direct standard-setting role in the adoption and updating of financial reporting standards for application across the provincial professional councils. In this capacity, the federation issued Technical Resolution No. 26, which adopts IFRS Accounting Standards and the IFRS for Small and Medium-sized Entities Accounting Standard by reference and provides an established mechanism for incorporating new and amended standards issued by the International Accounting Standards Board.

The federation continuously monitors pronouncements issued by the International Accounting Standards Board and updates the national framework through technical resolutions and adoption circulars. It also participates actively in regional and international standard-setting processes, including through the Group of Latin American Accounting Standard Setters, and contributes to International Accounting Standards Board consultations and exposure drafts.

To support implementation, the federation disseminates updates to the standards, issues implementation guidance, provides continuing professional development activities, and promotes incorporation of IFRS Accounting Standards into university curricula and professional training programs.

The Federación Argentina de Consejos Profesionales de Ciencias Económicas also continues to engage with sector regulators to promote convergence and consistency of financial reporting requirements across the jurisdiction, including in areas where direct regulatory authority rests with the Banco Central de la República Argentina and the Superintendencia de Seguros de la Nación.

Accordingly, the federation maintains well-established ongoing processes to fulfill its shared responsibilities under SMO 7 and continues to be assessed at Sustain.

Current Status: Sustain