received the Accounting and Auditing ROSC Report prepared by the World Bank, which assesses financial information quality in Peru and its alignment with international standards.
The government official stated that having transparent, comparable, and reliable financial information, aligned with international standards, is essential to boost economic growth, improve the investment climate, and strengthen the country's financial stability.
During the
presentation of the Report on the Observance of Standards and Codes (ROSC) – Accounting and Auditing, prepared by the World Bank with the support of the International Monetary Fund (IMF), the Cabinet member highlighted the importance of the assessment.
She stated that it constitutes "a diagnostic tool of enormous value, which will allow us to guide public policies on the quality and transparency of financial information."
"This report is a comprehensive review of the extent to which Peru is aligned with international accounting and auditing standards, and it identifies areas we must address in order to continue modernizing our system. This approach is key to economic decision-making," Minister Miralles underlined.
The new ROSC, requested by the MEF's Accounting Standards Board (CNC), updates the study conducted in 2004.
Similarly, it assesses the level of compliance with international standards such as IFRS, ISAs, and the Code of Ethics for Professional Accountants, among other relevant technical frameworks.
This document identifies progress in the modernization of the national accounting framework, as well as pending challenges in supervision, professional training, corporate governance, and institutional strengthening—areas that are essential for economic development and the financial information users' protection.
Minister Miralles underscored that this update comes at a key moment for the country, as Peru's accession to the OECD requires alignment with international best practices in transparency, sustainability, corporate governance, and audit quality.
"Peru must ensure that its processes, regulatory frameworks, and supervisory systems are aligned with the highest international standards. This is essential to enhance competitiveness, attract investment, and sustain growth in a challenging global context," she pointed out.
The ROSC will serve as the basis for a reform agenda aimed at enhancing the quality of financial information, strengthening oversight, and modernizing the regulatory frameworks governing public and private companies, as well as supervisory bodies.
"Trust is the foundation upon which investment and sustainable development are built. This report is not just a technical diagnosis; it is a starting point for working jointly with the CNC, regulators, accounting professionals, and the private sector," the minister indicated.
The government official reiterated the MEF's commitment to promoting clear rules, strong institutions, and reliable financial information that contribute to macroeconomic stability and Peru's growth.
"We thank the World Bank and the IMF for the technical rigor of their evaluation and for accompanying us in this process. From the MEF, we will foster the necessary actions to ensure that the country has a modern, transparent financial system aligned with international best practices," she concluded.