Latin American Capital Markets

SystemqualitycontrolYesIn-processNoYesIn-processNoNoEvaluationin processCopyright © by the Inter-American Development Bank. All rights reserved.For more information visit our website: www.iadb.org/pubNo226 PIETRO MASCI AND IVAN SOTOMAYORTable 7-1 | National Accounting Standards and Quality Assurance PoliciesCountryNational professional organizationEstimatednumber ofpublicaccountantsNational accounting standardUnited StatesAmerican Association of Certified PublicAccountants (AICPA)480,000U.S. GAAP Convergence Project to IASBarbadosInstitute of Chartered Accountants ofBarbados (ICAB)IAS fully adopted as benchmarkJamaicaInstitute of Chartered Accountants ofJamaicaExamining the possibility of adopting IASBrazilConselho Federal de Contabilidade340,000Brazilian GAAP influenced by IASArgentinaFed. Argentina de Consejos Prof, de C.E.Fed. Argentina de Graduados en C.E.80,000Argentinean GAAR Plan to base futurestandard setting mostly on IASCanadaCanadian Institute of CharteredAccountants65,000Canadian GAAP Convergence Project toIASMexicoInstitute Mexicano de ContadoresPublicos27,000Mexican GAAP Convergence Project toIASColombiaCONFECOPINCPC60,000Colombian GAAP influenced by U.S. GAAPVenezuelaFed. de Colegios de Contadores Publicos36,000Venezuelan GAAR in absence follow IAS,Mexican GAAR U.S. GAAP in this orderPeruFed. de Colegios de Contadores Publicos24,000IAS in absence of IAS follow U.S. GAAPChileColegio de Contadores8.800Chilean GAAP in absence follow IAS