Circular No. 77-2026-SMV/11.1: Audit Firms - Considerations on "Other Information" ISA 720

PERU Ministry of Economy and Finance

SMV
Superintendency of Securities Market

"Decade of Equal Opportunities for Women and Men" "Year of Hope and the Strengthening of Democracy"

Av. Paseo de la República 3617 San Isidro
Central: 610-6300 www.gob.pe/smv

Electronic document digitally signed within the framework of Law N° 27269, Law of Digital Signatures and Certificates, its Regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml

San Isidro, March 2, 2026

CIRCULAR Nº 77-2026-SMV/11.1

To
Audit Firms
Present.-

Ref.: File Nº 2026006011

I address you in relation to the designation of your firm as the audit firm responsible for auditing the annual financial statements as of December 31, 2025, of issuers with securities registered in the Public Registry of the Securities Market – RPMV, which are under the supervision of the Superintendency of Securities Market – SMV.

In this regard, within the framework of the provisions of Article 391 of the Financial Information Regulations, approved by CONASEV Resolution Nº 103-1999-EF/94.10, your firm is required to apply the International Standards on Auditing – ISAs issued by the International Auditing and Assurance Standards Board (IAASB) and formalized2 in Peru by the Board of Deans of Colleges of Public Accountants of Peru, in the audit work performed by the audit firm on the financial information of issuers.

In this sense, it is necessary to remind your firm of the auditor's obligation, among others, to obtain, read, and consider other information3, in order to detect material inconsistencies with the financial statements or with the knowledge obtained by the auditor, as indicated in ISA 720 «The Auditor's Responsibilities Relating to Other Information»; as well as to document in its working papers (i) the audit procedures applied and the evidence obtained, allowing for an understanding of the nature and results of such procedures, (ii) the significant matters identified, and (iii) the conclusions reached, as required by ISA 230 «Audit Documentation».

1 «Article 39.- Audit examination.
The basic financial statements of a company, obtained after the closing of the official books, must be audited by a duly qualified Auditor; the same requirement applies to the consolidated financial statements of the parent company with its subsidiaries. The audit report must be prepared and presented subject to the requirements and formalities established by the ISAs approved and in force in Peru and, where applicable, by the specific standards issued by the corresponding Supervision and Control Bodies. (…)»

2 The ISAs - 2021 Edition were approved by Resolution N° 005-2024-JDCCPP/AG of the Board of Deans of Colleges of Public Accountants of Peru, and came into force on April 1, 2024.

3 ISA 720, paragraph 12, literal c), defines «Other Information» as: «financial or non-financial information (other than the financial statements and the related auditor's report) included in an entity's annual report». As an example, the annual reports of issuers are considered «Other Information», which are presented together with their annual financial statements and their respective audit reports.

PERU Ministry of Economy and Finance

SMV
Superintendency of Securities Market

"Decade of Equal Opportunities for Women and Men" "Year of Hope and the Strengthening of Democracy"

Av. Paseo de la República 3617 San Isidro
Central: 610-6300 www.gob.pe/smv

Electronic document digitally signed within the framework of Law N° 27269, Law of Digital Signatures and Certificates, its Regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml

Likewise, it is appropriate to point out that, considering the provisions of Article 14 of the Consolidated Text of the Organic Law of the Superintendency of Securities Market – SMV, approved by Legislative Decree Nº 26126; and, Article 46, numeral 215, of the Regulations on Organization and Functions of the Superintendency of Securities Market, approved by Supreme Decree Nº 216-2011-EF; it is the responsibility of the General Superintendency of Conduct Supervision of the SMV to supervise that audit firms contracted by legal entities under the supervision of the SMV comply with performing the audit in accordance with the provisions of the ISAs.

Finally, it should be noted that this circular does not require a response from your firm, as its nature is informative and preventive; however, this does not exempt your firm from its responsibility to know and observe the securities market regulations.

Without further ado, I remain yours.
Sincerely,

Alix Godos
General Superintendent
General Superintendency of Conduct Supervision

4 «Article 1. Definition, purpose and functions of the Superintendency of Securities Market (SMV) (…) Likewise, it is the responsibility of the Superintendency of Securities Market (SMV) to supervise the compliance with international auditing standards by audit firms qualified by a college of public accountants of Peru and contracted by natural or legal persons subject to the supervision of the SMV in compliance with the standards under its competence, for which it may issue general provisions consistent with the aforementioned international auditing standards and require any information or documentation to verify such compliance (…)».

5 «Article 46.- Specific functions of the General Superintendency of Conduct Supervision are: (…) 21. To supervise the compliance with international auditing standards by audit firms qualified by a College of Public Accountants of Peru and contracted by natural or legal persons under its supervision;»