Argentina Securities Commission simplifies issuer corporate oversight and external audit requirements under General Resolution 1127

The Argentina Securities Commission (CNV) issued General Resolution No. 1127 to simplify the regime governing issuers’ corporate oversight processes and the framework for external auditors, as part of its ongoing regulatory deregulation and simplification agenda. For external audit, the resolution aligns CNV provisions with the International Code of Ethics for Professional Accountants as adopted by the Argentine Federation of Professional Councils of Economic Sciences, including rules on services provided by external auditors to public interest entities and the duty to disclose fees billed for those services. It also clarifies the scope of the audit committee’s or board’s evaluation of the external audit function, streamlines the Auditors Register by removing obsolete requirements and consolidating similar provisions, and introduces a new, centralized approach to requirements for issuers’ corporate registry filings. The package eliminates certain procedures related to updating digital accounting and corporate recordkeeping systems and changing storage media where essential approval conditions remain unchanged, and reorganizes and simplifies the regulatory language, articles and annexes.