Resolution No. 0895-98: Accounting Manual for Financial System Companies

Lima, September 01, 1998 S.B.S. Resolution No. 895-98 The Superintendent of Banking and Insurance WHEREAS: That, Article 221 of the General Law of the Financial System and the Insurance System and Organic Law of the Superintendency of Banking and Insurance, Law No. 26702, hereinafter the General Law, specifies the operations that can be carried out by companies of the national financial system; That, an adequate accounting record of said operations allows reflecting the real economic and financial situation of financial system companies and facilitates the supervision work by this Superintendency; That, it is the responsibility of this Superintendency to establish the norms for an adequate accounting record of operations carried out by supervised companies; Based on the opinion of the Deputy Superintendencies of Banking and Legal Advisory, as well as the Economic Studies and Statistics Management, and; In use of the attributions conferred by numerals 9 and 13 of Article 349 of the General Law; RESOLVES: Article One.- To approve the Accounting Manual for Financial System Companies, which forms an integral part of this Resolution. Said Manual will come into force on January 01, 2000. Article Two.- Multiple operations companies indicated in Article 16 of the General Law and financial leasing companies must submit to this Superintendency by December 30, 1998, an implementation plan for the Accounting Manual, which will include the adaptation process of the accounting and IT system. Article Three.- The implementation plan for the Accounting Manual must consider the following obligations: a) As of June 30, 1999, companies must prepare and present financial statements according to the catalog and forms established in both the Accounting Manual and the Chart of Accounts for Financial Institutions; b) As of August 30, 1999, companies must prepare and present annexes and reports according to the catalog and formats established in both the Accounting Manual and the Chart of Accounts for Financial Institutions and other norms in force on the date of their presentation; and, c) No later than October 30, 1999, companies must have verified that the IT support of the accounting system, designed for the implementation of the Accounting Manual, is capable of facing the risks derived from the year 2000. Article Four.- This resolution comes into force the day after its publication in the Official Gazette El Peruano and repeals, as of January 01, 2000, SBS Resolution No. 1256-92 of October 23, 1992, and its modifying and/or complementary norms. Register, communicate and publish, MARTÍN NARANJO LANDERER Superintendent of Banking and Insurance