Junta de Decanos de Colegios de Contadores Públicos del Perú

The Board of Deans of Associations of Public Accountants of Peru (JDCCPP) supports the development of a quality assurance (QA) review framework in the jurisdiction in coordination with the departmental associations of public accountants. In 2024, the JDCCPP approved the 2021 international quality management standards, including International Standard on Quality Management 1, International Standard on Quality Management 2, and International Standard on Auditing 220 (Revised), and has undertaken activities to support their implementation by members, including dissemination of standards and technical guidance.

The JDCCPP has also continued efforts to establish a QA review system, including planning for a phased approach beginning with a voluntary program, and engaging with departmental associations to promote consistent application of quality management requirements. However, no jurisdiction-wide QA review system has yet been demonstrated as fully established and operational for all mandatory audits. Existing QA-related oversight conducted by the Superintendence of Securities Markets (SMV) and the Superintendence of Banking, Insurance, and Private Pension Fund Administrators (SBS) applies only to regulated entities and does not constitute a unified system aligned with SMO 1.

Accordingly, while the JDCCPP is actively supporting implementation of quality management standards and promoting alignment across the profession, the jurisdiction-level QA framework remains under development SMO 1 fulfillment is therefore assessed as Execute.

To further align with SMO 1, the JDCCPP should prioritize the implementation of a jurisdiction-wide QA review system covering all mandatory audits and continue to support members through practical guidance and training on quality management standards.

Current Status: Execute

The Board of Deans of Associations of Public Accountants of Peru (JDCCPP) supports the implementation of international education requirements through its national standard-setting, certification, and coordination functions. In 2021, the JDCCPP approved the 2019 International Education Standards as part of its regulatory timetable and has continued to reference them in its professional modernization activities. The JDCCPP is also responsible for national certification and recertification of public accountants and maintains a continuing professional development framework for those participating in that system.

Since the previous assessment, the JDCCPP has continued to develop its competency-based approach. In 2024, it approved a national competency standard for the general accountant profile, which supports its certification framework. The JDCCPP also maintains regulations for certification and recertification and has a statutory role in advising on university accounting curricula, which supports alignment between academic preparation and professional competence requirements.

At the jurisdiction level, however, initial professional development and continuing professional development requirements remain only partially aligned with the International Education Standards because a university accounting degree and registration with a departmental association continue to be the principal entry requirements for public accountants, and mandatory continuing professional development is not required for all professional accountants in Peru.

Accordingly, the JDCCPP has moved beyond a planning stage by adopting the 2019 International Education Standards, maintaining a national certification and recertification framework, and advancing competency-based standards. SMO 2 fulfillment is therefore assessed as Execute.

To further align with SMO 2, the JDCCPP should continue working with universities, regulators, and departmental associations to promote jurisdiction-wide requirements for practical experience, competence assessment, and mandatory continuing professional development for all professional accountants.

Current Status: Execute

The Board of Deans of Associations of Public Accountants of Peru (JDCCPP) continues to lead adoption and implementation of international auditing standards in Peru through its national technical commissions and resolutions, which are subsequently adopted by the departmental associations of public accountants. In 2024, the JDCCPP approved the 2021 international auditing pronouncements, including the International Standards on Auditing, and also approved the International Standard on Auditing for Audits of Financial Statements of Less Complex Entities.

The JDCCPP has continued to support implementation through dissemination of updated standards, issuance of application guidance, and professional education activities. Its published materials include implementation guidance on auditor reporting standards and technical resources to support application of the standards in practice. Recent institutional events and public communications also indicate continued outreach to the profession on developments in auditing standards and implementation challenges.

At the jurisdiction level, International Standards on Auditing remain partially adopted because the version in force is not the latest in effect at the time of the assessment. Nevertheless, the JDCCPP has maintained an active process to monitor changes in international standards, adopt updated pronouncements, and support member implementation. SMO 3 fulfillment is therefore assessed as Review & Improve.

To further align with SMO 3, the JDCCPP should continue accelerating the adoption of the latest International Standards on Auditing and expand practical implementation support to members, particularly in relation to newly revised standards and quality management requirements.

Current Status: Review & Improve

The Board of Deans of Associations of Public Accountants of Peru (JDCCPP) continues to support the adoption and implementation of international ethical requirements through its national technical commissions, regulatory timetable, and member communications. In 2024, the JDCCPP brought into force the 2021 edition of the International Code of Ethics for Professional Accountants (including International Independence Standards) and disseminated related updates to the profession. It also maintains a national Code of Ethics for Peruvian professional accountants that expressly complements the international Code where national provisions are needed.

Since the previous assessment, the JDCCPP has also continued its implementation work through IFAC-related special committees, including a dedicated committee for the Code, and through ethics-related training and professional outreach. Public information further indicates that the JDCCPP subsequently approved the 2024 edition of the international Code, demonstrating continued efforts to keep ethical requirements updated and to promote alignment with international standards.

At the jurisdiction level, however, the version in force during most of the assessment period was not the latest edition in effect, and full alignment with the most current ethical requirements has therefore lagged behind the international benchmark. Nevertheless, the JDCCPP has maintained an active process to monitor, adopt, and promote implementation of the Code. SMO 4 fulfillment is therefore assessed as Review & Improve.

To further align with SMO 4, the JDCCPP should continue accelerating adoption of the latest Code and expand practical implementation support to members, particularly in relation to new independence and public interest entity provisions.

Current Status: Review & Improve

The Board of Deans of Associations of Public Accountants of Peru (JDCCPP) does not have direct responsibility for establishing public sector accounting standards, which are set by the Directorate General of Public Accounting under the Ministry of Economy and Finance. Nevertheless, the JDCCPP continues to support implementation of International Public Sector Accounting Standards (IPSAS) through professional education, technical coordination, and participation in international standard-setting activities. Public information indicates that the JDCCPP maintains a National Technical Committee on Government Accounting and IPSAS and continues to submit comments on International Public Sector Accounting Standards Board exposure drafts, including in 2024 and 2025.

The JDCCPP also continues to provide support to members through public sector-focused events, training, and dissemination of updates relevant to public financial management and public sector accounting. These activities demonstrate ongoing engagement in promoting awareness of international public sector standards and supporting their implementation, despite the PAO’s lack of direct authority over jurisdiction-level standard setting.

Since accrual-based IPSAS remain adopted in Peru at the jurisdiction level, and the JDCCPP continues to undertake sustained activities to support implementation and international alignment, SMO 5 fulfillment is best assessed as Sustain.

Current Status: Sustain

The Board of Deans of Associations of Public Accountants of Peru (JDCCPP) continues to support the development and harmonization of the investigation and discipline (I&D) framework in Peru through its national regulatory and coordinating role. Law No. 28951 of 2007 requires each departmental association of public accountants to maintain an Ethics Committee and an Honor Tribunal, and the law also requires internal disciplinary provisions to have the prior favorable opinion of the JDCCPP in order to promote uniformity across the profession.

Since the previous assessment, the JDCCPP has taken concrete steps to strengthen the framework. Resolution No. 004-2021-JDCCPP/AG formally approved the SMO roadmap, and the JDCCPP now publishes a national Regulation on Investigation and Discipline together with the Code of Ethics of the Peruvian Public Accountant, which incorporates disciplinary procedures as an integral component. The JDCCPP also makes these materials publicly available and disseminates updates to departmental associations and members, supporting consistent application across the profession.

In addition, the JDCCPP supports implementation through professional education and outreach activities, including ethics-related training and communication initiatives that raise awareness of disciplinary processes and professional responsibilities. It also promotes alignment across the departmental associations by issuing guidance and coordinating regulatory approaches at the national level.

These actions indicate that the JDCCPP has moved beyond a planning stage by establishing national guidance, supporting member awareness and implementation, and promoting greater uniformity at the jurisdiction level. At the same time, gaps remain relative to full SMO 6 alignment, including the need for stronger evidence of consistent implementation, public availability of outcomes, and regular monitoring of effectiveness across all departmental associations. SMO 6 fulfillment is therefore assessed as Execute.

To further align with SMO 6, the JDCCPP should continue strengthening oversight of implementation across the departmental associations and promote greater transparency and regular review of the effectiveness of the I&D system.

Current Status: Execute

The Board of Deans of Associations of Public Accountants of Peru (JDCCPP) continues to support implementation of International Financial Reporting Standards (IFRS) in Peru through its technical committees, professional education activities, and participation in national and regional standard-setting discussions. The JDCCPP maintains a National Technical Committee on International Financial Reporting Standards and continues to organize the National Convention on International Financial Reporting Standards (CONANIIF), including CONANIIF 2024 and the launch of CONANIIF 2025, to promote awareness of current financial reporting developments.

Since the previous assessment, the JDCCPP has continued to support members through dissemination of updates, technical outreach, and training on new reporting requirements. Its recent public communications have addressed implementation issues related to national financial reporting requirements for microenterprises and broader developments in financial reporting and sustainability.

At the jurisdiction level, accounting standards for private sector entities continue to be established by the Accounting Standards Council (CNC) under the Ministry of Economy and Finance, while regulated sectors remain subject to the Superintendence of Securities Markets (SMV) and the Superintendence of Banking, Insurance, and Private Pension Fund Administrators (SBS). Within this framework, the JDCCPP continues to play an active supporting role by promoting implementation, building professional awareness, and contributing technical input. Accordingly, SMO 7 fulfillment continues to be assessed as Sustain.

Current Status: Sustain