The Superintendence of the Securities Market (“SMV”) issues Circular Nº 185-2022-SMV/11.1, regarding compliance with disclosure obligations of issuers with respect to the external audit for fiscal year 2022 (“Circular”)
On June 7, 2022, the SMV issued the Circular, addressed to issuers with securities registered in the Public Registry of the Securities Market (“RPMV”), establishing provisions regarding compliance with their disclosure obligations in relation to the external audit of their annual financial information for the fiscal year 2022.
The Circular states that issuers are required to disclose, as an important fact, in addition to the events expressly indicated in the applicable rules and mentioned in the calendar “Disclosure and reporting obligations” sent to issuers by Circular No. 035-2022-SMV/11.1 of February 10, 2022, the following information:
The signing of the contract between the issuer and the external audit firm that will audit its financial statements for fiscal year 2022.
The Circular recalls that issuers must have the respective supporting documentation on the fact of reported importance.
In addition, the Circular mentions that issuers must ensure that the audit opinion or report issued by the audit firm contracted to audit their financial statements for fiscal year 2022 and thereafter, complies with the provisions of International Standard on Auditing (NIA) 700 “Formation of the Opinion and Issuance of the Audit Report on the Financial Statements”, contained in the NIA 2018 Edition issued by the International Auditing and Assurance Standards Board (IAASB), version that has been officialized in Peru by the Board of Deans of the Peruvian Association of Public Accountants.
