Instituto Salvadoreño de Contadores Públicos

In El Salvador, the Oversight Board of the Profession of Public Accounting and Auditing (CVPCPA) and the Superintendent of the Financial System (SSF) are authorized to conduct quality assurance reviews. The Instituto Salvadoreño de Contadores Públicos (ISCP) indicates that it actively supports the operation of the quality assurance review systems in the jurisdiction and educates its members on related requirements. IFAC’s jurisdiction profile for El Salvador also notes that, since 2009, the CVPCPA has operated a quality assurance review system and that CVPCPA adopted the International Standard on Quality Management (ISQM) 1, International Standard on Quality Management (ISQM) 2, and International Standard on Auditing (ISA) 220 (Revised) through Resolution No. 129 of 2022, effective for audits of financial statements for periods beginning on or after January 1, 2023.

The ISCP supports implementation of the two quality assurance review systems by having a representative serve on the CVPCPA Board and by maintaining ongoing communication with the SSF. These mechanisms enable the ISCP to monitor the systems’ operation, promote continued alignment with SMO 1 requirements, and encourage improvements where needed. The ISCP also reports that it has motivated experienced members to act as reviewers, analyzed annual inspection results, and provided training based on inspection findings.

Recent publicly available information also shows continued implementation support activities by the ISCP. In 2026, the institute promoted a seminar on quality management in public accounting firms and additional training on relevant auditing topics, including risk assessment, planning, audit response, and reporting. These activities are consistent with ongoing member support for quality management implementation and audit quality more broadly.

In addition, the ISCP reports that it disseminates information on the quality assurance review systems, works with universities to promote relevant topics in accounting curricula, and has developed a virtual platform that provides professional accountants with tools to maintain high-quality services and raises awareness of the quality assurance systems in the jurisdiction. Overall, the ISCP has demonstrated sustained efforts to support implementation and ongoing improvement of the quality assurance framework.

Current Status: Sustain

In El Salvador, universities and the Oversight Board of the Profession of Public Accounting and Auditing (CVPCPA) have responsibility for implementing initial professional development (IPD) and continuing professional development (CPD) requirements for professional accountants, which are established in the Public Accountant Law, Decree No. 828 of 2000, as amended in 2017. Individuals seeking to obtain a public accountant or auditor license from the CVPCPA must hold a bachelor’s degree in accounting and complete one year of practical experience for public accountants or two years for auditors. To maintain the license, individuals must fulfill annual CPD requirements, which the Instituto Salvadoreño de Contadores Públicos (ISCP) reports are aligned with the revised International Education Standards (IES).

As an entity established by general consensus with voluntary membership, the ISCP does not have authority to directly adopt the IES for its members beyond promoting best practices. Accordingly, its activities focus on supporting the alignment of university curricula and advocating for legal and regulatory reforms that would require the profession in El Salvador to adopt and implement IES requirements as the baseline education framework for all professional accountants.

The ISCP states that it has established a University Exchange Commission responsible for promoting the IES in the jurisdiction and has collaborated with the CVPCPA to reform IPD and CPD requirements. In addition, the ISCP has an Education Standards Committee responsible for monitoring and implementing activities related to SMO 2. The institute has also signed an agreement with the CVPCPA to serve as an authorized CPD provider and continues to provide professional development programs for its members and the wider profession.

Recent publicly available information confirms continued member support activities. The ISCP continues to offer professional seminars and technical training programs, including updates on auditing, ethics, quality management, and professional practice topics, which contribute to the ongoing competence of professional accountants in the jurisdiction. These activities support the implementation of competency-based learning and reinforce the objectives of the revised IES, including professional skepticism and technology-related competencies.

The ISCP’s sustained efforts to support IES implementation through collaboration with regulators, universities, and ongoing professional education are commendable. Overall, the institute continues to demonstrate strong best-endeavor activities in support of SMO 2 requirements.

Current Status: Sustain

The Instituto Salvadoreño de Contadores Públicos (ISCP) is not legally responsible for adopting auditing standards in El Salvador. However, it continues to play an important role in the standard-setting process through its participation in the activities of the Oversight Board of the Profession of Public Accounting and Auditing (CVPCPA) and ongoing communication with the Superintendent of the Financial System (SSF). The ISCP maintains representation on the CVPCPA Board and a permanent communication channel with the SSF, which enables it to support the continued adoption and updating of the International Standards on Auditing (ISA) and related pronouncements in the jurisdiction.

The ISCP reports that it has successfully promoted and recommended the adoption of ISA to both regulators and has established processes to share official Spanish translations and encourage the adoption of updated versions of the standards. Publicly available information confirms that the CVPCPA, through Resolution No. 129 of 2022, adopted the latest suite of international auditing pronouncements, including the International Standard on Quality Management (ISQM) 1, International Standard on Quality Management (ISQM) 2, and International Standard on Auditing (ISA) 220 (Revised), effective for audits of financial statements for periods beginning on or after January 1, 2023. This reflects successful ongoing engagement by the profession in supporting implementation and standard updates.

To support implementation, the ISCP has established a Committee of Professional Standards responsible for monitoring and ensuring fulfillment of SMO 3 requirements. The institute continues to provide training on ISA and related auditing topics through its continuing professional development (CPD) activities and seminars, including the National Convention of Public Accountants and the National Congress of Teachers in Public Accounting and Economic Sciences. Recent training offerings also include seminars on quality management in public accounting firms, audit planning, risk assessment, and reporting, which directly support the effective implementation of ISA and International Auditing and Assurance Standards Board (IAASB) quality management standards.

The ISCP also reports that it actively monitors changes and updates to international standards to ensure timely dissemination of information and awareness of international developments among its members. The institute has demonstrated an ongoing process to maintain fulfillment of SMO 3 obligations and remains committed to continuous improvement.

Current Status: Sustain

In El Salvador, professional accountants are subject to ethical requirements established by the Oversight Board of the Profession of Public Accounting and Auditing (CVPCPA), which has adopted the International Code of Ethics for Professional Accountants (including International Independence Standards) issued by the International Ethics Standards Board for Accountants (IESBA) by reference. The Instituto Salvadoreño de Contadores Públicos (ISCP) is not legally responsible for adopting ethical requirements for its members; however, it continues to play an important role in the standard-setting process by having a representative serve on the CVPCPA Board and by monitoring revisions and updates to promote adoption of the latest version of the IESBA Code.

The ISCP’s advocacy role is evidenced by its efforts to support the return to the IESBA Code after the CVPCPA had temporarily moved away from it. As reported by the ISCP through the International Federation of Accountants (IFAC) member profile, the institute expressed disagreement with the adoption of a separate local code, offered support for the use and distribution of the IESBA Code, and, together with other professional accountancy organizations, persuaded the CVPCPA to withdraw that decision.

The ISCP indicates that it monitors cases of non-compliance with ethical requirements identified by the CVPCPA and has developed training on topics related to ethical standards. The institute also reports that it has signed agreements with universities in El Salvador to disseminate the IESBA Code and encourages universities to incorporate the Code into accounting curricula. Public information on the ISCP website confirms that the institute maintains cooperation agreements with academic institutions, and recent agreements continue to emphasize strengthening professional education and continuing education in line with international standards.

In addition, the ISCP reports that it supports implementation of the IESBA Code by disseminating information, maintaining resources on professional ethics on its website, and conducting activities to promote ethics and professionalism among members. The institute has demonstrated an ongoing process to maintain fulfillment of Statement of Membership Obligation (SMO) 4 and remains committed to continuous improvement.

Current Status: Sustain

The Instituto Salvadoreño de Contadores Públicos (ISCP) is not responsible for setting public sector accounting standards, which are established by the Directorate General of Government Accounting (GOES) within the Ministry of Finance in El Salvador. Nevertheless, the ISCP reports that it actively promotes the adoption and implementation of the International Public Sector Accounting Standards (IPSAS) by maintaining dialogue and collaboration with the GOES on how the institute can best support the government’s reform efforts. Through this engagement, the ISCP shared the official Spanish translations of IPSAS with the GOES for its analysis, which contributed to the subsequent adoption of selected IPSAS in the jurisdiction.

Publicly available information continues to support that El Salvador has adopted certain IPSAS, including IPSAS 1, 2, 12, 14, and 31, while continuing to apply national standards on a partial accrual basis. This indicates ongoing progress in public sector accounting reform and reflects continued engagement by the profession in supporting implementation efforts.

In addition, the ISCP has established a Committee for the Public Sector responsible for monitoring changes to standards and pronouncements issued by the International Public Sector Accounting Standards Board (IPSASB), providing training on public sector accounting standards, and disseminating information among its members. The ISCP also reports that it has signed agreements with universities in El Salvador to disseminate IPSAS and encourage universities to incorporate public sector accounting standards into their curricula.

Recent professional education activities by the ISCP, including seminars and technical updates on accounting standards and public sector reporting topics, further demonstrate ongoing support for members and stakeholders involved in implementation. These activities reinforce the institute’s best-endeavor role in promoting alignment with international public sector standards.

The ISCP has demonstrated an ongoing process to maintain fulfillment of Statement of Membership Obligation (SMO) 5 and remains committed to continuous improvement.

Current Status: Sustain

In El Salvador, the Oversight Board of the Profession of Public Accounting and Auditing (CVPCPA) and the Superintendent of the Financial System (SSF) are responsible for investigating and disciplining professional accountants. The SSF carries out investigation and discipline procedures for auditors of certain regulated entities, while the CVPCPA conducts investigations and issues sanctions for other professionals. As reported by the Instituto Salvadoreño de Contadores Públicos (ISCP) through the International Federation of Accountants (IFAC) member and jurisdiction profiles, the ISCP has assessed the CVPCPA’s investigation and discipline policies and processes against the requirements of Statement of Membership Obligation (SMO) 6 and identified gaps, including the absence of linkage with the results of quality assurance reviews and the lack of non-accountants on the disciplinary committee.

The ISCP reports that it promotes SMO 6 best practices to the CVPCPA by having a representative serve on the CVPCPA Board, which enables the institute to propose improvements and monitor implementation of the CVPCPA’s investigation and discipline system. In addition, the ISCP indicates that it monitors investigation and discipline cases led by the SSF. The institute has also established its own Investigation and Discipline Committee responsible for monitoring the CVPCPA’s disciplinary decisions. When ISCP members are subject to disciplinary findings, the committee may request a corrective action plan to support member education and remediation. Monitoring also enables the ISCP to gather statistical information on cases for its own tracking and reporting purposes.

Recent publicly available information supports that the regulatory framework continues to emphasize professional conduct, complaints, and disciplinary oversight. The CVPCPA has published updated regulatory materials on its website, and its anti-bribery policy identifies formal reporting channels for complaints and protected reporting, which indicates continued institutional attention to compliance and enforcement mechanisms.

The ISCP has demonstrated ongoing best-efforts activities to support fulfillment of SMO 6 despite having no direct legal responsibility for the jurisdictional system.

To further support alignment with SMO 6, the ISCP should continue working with the CVPCPA and the SSF to promote improvements to the jurisdiction-level system, particularly by encouraging formal linkage between quality assurance review findings and investigation and discipline processes, broader public interest input such as participation of non-accountants, and continued strengthening of documented procedures in line with SMO 6 benchmarks.

Current Status: Sustain

It is the responsibility of the Oversight Board of the Profession of Public Accounting and Auditing (CVPCPA) and the Superintendent of the Financial System (SSF) to establish accounting standards for the financial statements of the respective entities under their supervision. The Instituto Salvadoreño de Contadores Públicos (ISCP) indicates that it actively participates in and contributes to the CVPCPA’s standard-setting process and advocates for the adoption and maintenance of International Financial Reporting Standards (IFRS) and the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs). The ISCP has a representative serving on the CVPCPA Board and works closely with the CVPCPA to ensure that the adopted version of IFRS and IFRS for SMEs remains aligned with the latest official Spanish translation.

The ISCP also maintains ongoing dialogue with the SSF, which requires the application of IFRS for listed companies. However, for banks, insurance companies, and pension funds, the SSF has established regulatory accounting requirements that are not aligned with IFRS. In this regard, the ISCP continues to play an important advocacy role in promoting broader alignment of financial reporting requirements across the jurisdiction.

To support implementation, the ISCP has established a Professional Standards Committee responsible for monitoring changes to standards and pronouncements issued by the International Accounting Standards Board (IASB), promoting updates to regulators, and ensuring dissemination and training for its members. The institute continues to provide specialized courses and technical training on IFRS, IFRS for SMEs, and related financial reporting matters, including practical seminars on financial statement preparation, technical updates, and diploma programs. These activities support the effective implementation of financial reporting standards by professional accountants in the jurisdiction.

The ISCP has demonstrated an ongoing process to maintain fulfillment of Statement of Membership Obligation (SMO) 7 through sustained advocacy, technical support, and member training, despite not having direct authority to adopt standards.

Current Status: Sustain