Regulatory Alerts2022-12-30 | NSP-40Added · Updated
Accounting Manual for Pension Funds
The Standards Committee of the Central Reserve Bank of El Salvador issued the Accounting Manual for Pension Funds, effective March 1, 2023, mandating standardized accounting recording and financial statement preparation for Pension Fund Administrators. The regulation requires quarterly financial statements to be published within 30 days for June 30 and 60 days for December 31, with annual reports due within 60 days of fiscal year-end. Administrators must submit monthly trial balances within seven business days, quarterly statements within 15 days, and annual statements with auditor opinions within 10 business days of February. The manual also establishes a specific codification structure for accounts and mandates the use of independent external auditors for examining fund financial statements.