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In Peru, the adoption of international financial reporting standards (IFRS) is integral since both the Peruvian government and the Board of Deans of the Colleges of Public Accountants of Peru ratified it (General Companies Law). all internationally applicable IASB rules are part of the adoption. To date, Bolivia has not implemented IFRS due to the lack of formal approval from the relevant authorities. This article's goal is to provide the study's conclusions on the progress that Bolivian and Peruvian accounting standards have made towards conformity with the International Accounting and Financial Reporting Standards. In this article, we examine and contrast the accounting rules of Bolivia and Peru by studying their respective regulatory systems using a technique based on comparative analysis (documentary, descriptive, qualitative). As a result, the most notable divergences are the degree of adoption. Peru has partially adapted IFRS, which are mandatory for publicly traded companies and some larger entities. Many companies continue to use the PCGE (General Business Accounting Plan), based on IFRS, but with practical differences and local criteria. Bolivia, for its part, still uses the PGC (General Accounting Plan), its own accounting principles, without widespread application of NIF.
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