RESTRICTED
WORLD TRADE S/WPPS/W/7/Add.7
17July1996
ORGANIZATION(96-2795)
Original: Spanish Working Party onProfessional Services
COMMUNICATION FROM ARGENTINA
Response totheQuestionnaire ontheAccountancy Sector
Thefollowing communication iscirculated attherequest ofArgentina.
_______________
I. GENERAL
1. What aretheprofessional titles ofaccountants inyour country? Arethese professional
titles protected? Please specify how.
InArgentina, theprofessional titles ineconomics areasfollows:
- Public accountant
- Economics graduate
- Graduate inadministration
- Actuary
These titles have been established byadomestic legal text(Law 20.488/73), sotheyare
protected.
Theresponsibilities ofpersons holding eachofthese titlesarealsolaiddown inthislegaltext
andinDecisions No.1.560 of1September 1980 andNo.1.627 of25October 1983, issued bythe
Ministry ofCulture andEducation.
2. How istheaccountancy sector regulated inyour country: bylaw,professional self-
regulation, acombination ofboth?
Ineachdistrict (23provinces andthefederal district) aProfessional Council hasbeenestablished
bylawtogrant andadminister registration foreconomics professions sothattheycanbelawfully
exercised.
Inaddition totheirregistration responsibilities, thepurpose ofthese Councils istoencourage
honourableexerciseoftheprofession,promotesolidarityamongtheirmembers,ensurethatprofessionals
actloyally andethically, administer exercise oftheprofession andtakeaction against itsunlawful
exercise, assist thepublic authorities infulfilling theprovisions related totheprofession, authenticate
signatures, endorse reports, andapply disciplinary sanctions forviolation oftheethical codes.S/WPPS/W/7/Add.7
Page2
Atthetechnicallevel,byself-regulation.Theprofessionalbodiesapprovethetechnicalstandards
andthecodes ofethics.
3. Arethere anyprovisions toprotect company names, whether national orforeign, inyour
country?
InArgentina, thelawdoesnotlaydown anyrestrictions onthenames ofnational orforeign
firms provided thattheyarenotcontrary tomorals orcustoms, arenotinjurious tothename ofthe
country oritssymbols andarenotmisleading astothenature ortypeoftheentity. Thelaw'sprovisions
alsoprescribe respect forthenames offirms.
4. What aretheprofessional bodies inyour country? Aretheyrecognized bylawasa
regulatory ordisciplinary body fortheaccountancy profession inyour country, orarethese
functions fulfilled byother institutions (please specify)?
InArgentina, theprofessional bodies aretheProfessional Councils established ineachdistrict,
andthesebelongtoasecondarybodycalledtheArgentineFederationofProfessionalEconomicsCouncils
(Federación Argentina deConsejos Profesionales deCiencias Económicas).
TheProfessional Councils havebeenestablished bylawandaretherefore legally recognized;
theymust carry outthefunctions defined intherelevant legalprovisions.
Thefunctions delegated bytheStatetotheprofessional bodies setupbylawmaynotbefulfilled
byother institutions. TheCouncils arelegalpersons under public lawandarenotStatebodies. They
havesoleresponsibility forapproving technical standards andforthefunctioning ofthedisciplinary
tribunals.
TheArgentine Federation ofProfessional Economics Councils wasnotsetupbylawbutit
islegally recognized andhasthelegalstatus granted bythecompetent body.
5. Howmany members dothese professional bodies have? What istheestimated proportion
ofthose?
There are80,000 professionals registered nation-wide.
Eachoftheprofessional bodies isresponsible foritsrespective province, therefore, thenumber
ofregistered professionals ineachoftheCouncils isdirectly linked tothesizeoftheprovince 's
population anditsmainactivities. Forexample, inthemostindustrialized provinces alarger number
ofprofessionals areactive incommerce andindustry, bothonafreelance basis andaspermanent
employees, aswellasinteaching. Inthelessindustrialized provinces, alarger proportion ofregistered
professionals work inthepublic sector andeducation.
Theproportions areasfollows:
- Inpublic practice (professional): 55%
- inindustry orcommerce: 23%
- inthepublic sector: 17%
- ineducation: 5%S/WPPS/W/7/Add.7
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6. What isthescope ofactivities regularly practised byaccountants inyour country?
Inaddition totheactivities mentioned inthequestion, accountants alsoprovide thefollowing
professional services:
- Company receivership;
- receivership increditors 'meetings andbankruptcy proceedings;
- investment project assessment;
- expert advice tothecourts;
- advice tocompanies;
- dataprocessing;
- forecasts andbudgets;
- organization ofaccounting systems;
- administrative accounting methods, systems andprocedures;
- profit andlossstudies andanalyses;
- lossadjustment;
- action related tothetransfer ofgood will;
- dissolution andwinding upofbusinesses;
- division ofestates following legaldecisions;
- financial andeconomic advice;
- taxadvice, settlement, contestation andplanning;
- inthepublic sector: areas within theircompetence;
- teaching andresearch.
7. Which ofthese activities areregulated inyour country?
Allactivities withtheexception ofteaching.
8. Which ofthese activities arereserved bylawtoaccountants, shared byaccountants with
other professions (please specify), orevenforbidden toaccountants inyourcountry, e.g.
byfullprohibition orbynotallowing cumulation ofcertain activities which areconsidered
incompatible ormutually exclusive?
Theresponsibilities ofeachoftheprofessions aredefined intheprovisions mentioned in
paragraph 1.S/WPPS/W/7/Add.7
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Article 13(a) ofLaw20.488 specifies thatapublic accountant isrequired forthefollowing:
(a) Ineconomic andaccounting matters when reports areforlegal oradministrative
purposes orserve asanattestation inrelation tothefollowing:
(1) Preparation, analysis andscope ofaccounting, budgetary, costandtax
statements infirms andother entities;
(2) Audit ofaccounts andrelevant documentation;
(3) Provisions inChapter III,TitleII,Book IoftheCommercial Code. (These
concern theforminwhich theaccounting records mustbekept,theobligation
forbusinesses toissuebalance sheets, toprove theaccuracy ofthetransactions
intheiraccounting statements andtorender accounts toanycompetent person.
Accountants areresponsible forthepreparation andorganization ofthese
activities andforproviding opinions thereon;
(4) Accountancy arrangements inalltypes ofentity;
(5) Preparation andimplementation ofadministrative/accounting policies, systems,
working methods andprocedures;
(6) Applicationandinstallationofdataprocessingsystemsandothermethodsrelated
totheaccountancy andfinancial aspects ofmanagerial information processes;
(7) Lossadjustment;
(8) Supervision oftheestablishment ofinventories tobeusedasabasis forthe
transfer ofbusinesses, theestablishment, merger, splitting uporliquidation
ofanytypeofentity andthetransfer ofshares;
(9) Action related tothetransfer ofgoodwill, without prejudice tothefunctions
andresponsibilities attributed toother professionals inLaw11.867;
(10) Action inconjunction with lawyers concerning contracts andarticles of
association ofalltypes ofnon-commercial partnerships andcommercial
companies withregard tomatters ofafinancial, economic, taxoraccountancy
nature;
(11) Presentation ofthesigned accounting statements ofnational, provincial,
municipal, jointandprivate banks, anyfirm, corporation orpublic, jointor
private institution andalltypes ofentities withshared equity;
(12) Anyother economic, financial oraccountancy matter related toaccountants '
functions asdefined inthisarticle.
(b) Atthelegallevel, forthepreparation andsigning ofreports inthefollowing cases:
(1) Competitions under theCompetition Lawforappointment asareceiver;
(2) Lossadjustment andmatters related totransport ingeneral inorder tomake
therelevant calculations andapportionment;S/WPPS/W/7/Add.7
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(3) Statements ofaccount inthecaseofdissolution, winding upandallmatters
related totheassets ofnon-commercial partnerships andcommercial
corporations andrendering ofaccounts ontheadministration ofassets;
(4) Examination orexpert reports onbooks, documents andother elements used
toclarify accountancy matters andmatters related tocommerce ingeneral,
itspractices, usesandcustoms;
(5) Accountancy reports forreceivership purposes;
(6) Preparing andcarrying outthedivision ofestates following legaldecisions,
incollaboration withthelawyer concerned;
(7) Asanexpert witness inthefieldinallforums.
Where relevant, theauditing standards approved bytheprofessional bodies apply tothe
submission ofreports.
Article 14oftheLawstates that"adegree inadministration isrequired" forthefollowing:
(a) Reports tobesubmitted tothelegal oradministrative authorities ortoserve asan
attestationwithregardtosupervisionandadministrationforthepurposeofexpertadvice
on:
(1) Supervisory functions ofanalysis, planning, organization andmonitoring;
(2) Preparation andimplementation offinancial, marketing, budgetary, costand
staffadministration policies, systems, methods andadministrative procedures;
(3) Definition anddescription ofthestructure andpurpose oforganizations;
(4) Application andinstallation ofdataprocessing systems andother methods in
managerial information processes;
(5) Matters related toindustrial relations, remuneration schemes andother
human-related aspects ofenterprises;
(6) Anyothermatter related toeconomic orfinancial supervision oradministration
inconnection withthefunctions attributed inaccordance withthisarticle.
(b) Inlegalmatters:
(1) Acting asaliquidator ofnon-commercial partnerships orcommercial
corporations.
(2) Asanexpert inthefieldinallforums.
When appointing aperson exofficio toactasanadministrator attheexecutive ormanagement
levelinreceivership proceedings, priority willbegiven tothose holding adegree inadministration,
althoughthisdoesnotprecludetheconsiderationofotherqualificationswhenmakingsuchappointments.S/WPPS/W/7/Add.7
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Article 16ofLaw20.488 provides thatanactuarial qualification isrequired forthefollowing:
(1) Reports submitted byinsurance, savings capitalization, savings andloan,self-financing
(reciprocal credit) companies andmutual funds totheirshareholders ormembers or
tothirdparties,tothesupervisorybodyforinsuranceortoanyothernational,provincial
ormunicipal public department inrelation tothecalculation ofpremiums andrates,
insurance, benefits andsubsidies schemes andthetechnical reserves ofthesecompanies
andfunds;
(2) Reportsonthetechnicalreserveswhichthesecompaniesandfundsmustpublishannually
together withtheirbalance sheets andprofit-and-loss accounts;
(3) Technical reports onthesituation ofprovident, tradeunion orprofessional funds when
theirforecasts andwelfare plans include transactions withbiometric aspects;
(4) Reports required byortobesubmitted toadministrative authorities orfordecisions
ontechnical questions related tostatistics, thecalculation ofprobabilities applied to
insurance,capitalization,savingsandloans,self-financingsavingsoperations(reciprocal
credit) andloans;
(5) Reports ontheestimation ofunforeseen future events using actuarial techniques;
(6) Inlegalmatters when judicial authorities request adetermination oftheeconomic value
ofpersons andlifeannuities;
(7) Economic andfinancial planning ofwelfare schemes withregard tothecalculation
ofcontributions, benefits orpension plans, technical orcontingency reserves.
Article 11states thataneconomics degree isrequired forthefollowing:
(1) Market surveys andsupply anddemand forecasts;
(2) Economic evaluation ofinvestment projects;
(3) Analyses oftheglobal, sectoral andregional situation;
(4) Analyses offoreign markets andinternational trade;
(5) Macroeconomic analyses ofexchange markets forsecurities andcapital;
(6) Studies ofglobal, sectoral andregional economic development programmes;
(7) Carrying outandinterpreting econometric studies;
(8) Analyses ofthemonetary, credit, exchange, taxandwage situation, action andpolicies;
(9) Studies andprojects forindustrial, mining, agricultural, trade, energy, transport and
infrastructural promotion;
(10) Economic analyses ofhuman resource planning andeconomic evaluation ofprojects;S/WPPS/W/7/Add.7
Page7
(11) Analyses ofindustrial, mining, energy, agricultural, trade, transport andinfrastructural
policies;
(12) Global, sectoral andregional studies onmarketing, location andcompetitive structure
ofretail markets;
(13) Anyother matters related totheeconomy andfinance inconnection withthefunctions
attributed;
(14) Expert witness inthefieldinalljudicial forums.
II. QUALIFICATION REQUIREMENTS
9. What arethequalification requirements forthese activities inyour country interms of
university/higher education degree, practice andprofessional exam? Specify thenumber ofyears
required foreachelement, andthedifferences according totheactivities (audit, insolvency, tax,
etc.)covered bythequalification.
University courses intherelevant subject mustbesuccessfully completed atoneofArgentina 's
universities inorder tobequalified fortheprofessions referred toinparagraph 1.Eachqualification
requiresfiveyearsandtheprofessionalisthenauthorizedtoexercisetheprofession.Regularprofessional
exams arenotrequired.
There arepostgraduate courses ineachsubject, someofwhich concern preferences (competition
forreceivership appointments) while others concern professional specialization (taxation, auditing).
Requirements:
(a) Adegree from anArgentine university following successful completion ofprior
secondary education;
(b) adegree fromaforeign university revalidated byanArgentine university, subject to
thefollowing:
- theforeigndegreemustbegrantedfollowingsuccessfulcompletionofsecondary
education anditmustbeproved thatthescope anddepth oftherequirements
imposed andtheknowledge acquired arenotlessthanthose forthesame
subjects atArgentine universities;
- uninterrupted residence inArgentina fornotlessthantwoyears, unless the
graduate isanArgentine citizen.
10. Arethere anypreconditions tomeet tostart theprofessional education: minimum age,
particular diploma ortitle,prior education, registration withaprofessional body, payment
ofafee,other (please specify) ?
Theonlyrequirement before commencing teaching isauniversity degree andtherearenoother
requirements concerning age,registration, payment ofafee,etc.S/WPPS/W/7/Add.7
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11. What arethesubjects tobecovered bytheeducation: accounting, audit, tax,general
law,economics, ethics, information technology, other (please specify)?
Nocompulsory subjects havetobestudied inorder tobecome ateacher, butanyassessment
forthepurpose ofcontinuing ateaching career takes intoaccount participation inteacher training and
professional courses, aswellaspublished works.
III. TECHNICAL STANDARDS AND ETHICS
12. Inrelation towhich activities donational standards exist(audit, accounting, insolvency,
other)? Please specify their main policy objectives.
Thenational standards thatexistarecalled Technical Decisions (Resoluciones Técnicas) and
theyaresetbytheArgentine Federation ofProfessional Economics Councils.
Thefollowing aretheTechnical Decisions ineffect:
- R.T. No.4"Consolidation ofAccounting Statements";
- R.T. No.5"Valuation ofInvestments inRegulated andRelated Companies";
- R.T. No.6"Accounting Statements inConstant Currency";
- R.T. No.7"Auditing Standards";
- R.T. No.8"General Standards forFinancial Presentations";
- R.T.No.9"Special Standards forFinancial Presentations forCommercial, Industrial
andService Enterprises";
- R.T. No.10"Professional Accountancy Standards";
- R.T. No.11"Special Standards forFinancial Presentations forNon-Profit-Making
Bodies",
- R.T.No.12"Partial Amendment oftheProfessional Standards inEffect forValuation
andPresentation".
Thepurpose ofsetting theaforementioned technical standards istoharmonize professional
criteria atthenational levelinthevarious districts inArgentina.
Technical Standards arealsosetbysupervisory bodies attheState level forcertain special
types ofentity. These bodies arethefollowing:
- National Supervisory Body forInsurance (forinsurance companies);
- National Securities Commission (forcompanies whose shares arequoted ontheStock
Exchange);
- National Institute ofCooperative Action (forcooperative entities);
- Central Bank oftheArgentine Republic (forfinancial entities);S/WPPS/W/7/Add.7
Page9
- General Inspectorate ofJustice (Federal Capital) andDepartments ofLegal Persons
(Provinces) (forcompanies).
13. Which body orinstitution develops these standards andmonitors their implementation?
What aretheconsequences ofabreach ofthestandards (fortheprofessional, forclients, etc.)?
Thefollowing bodies orinstitutions setthestandards:
Thestandards setbytheArgentine Federation ofProfessional Economics Councils (FACPCE)
areapplied andtheirobservance monitored byeachoftheProfessional Councils.
Thestandards setbythesupervisory bodies areapplied bytheenterprises under theircontrol
andtheirimplementation ismonitored bythebodies themselves.
Theconsequences ofabreach ofthestandards byprofessionals maybeanethical sanction
bytheDisciplinary orEthical Tribunal ofthecompetent Council, without prejudice toanylegal
consequences resulting from violation ofthestandards andthedegree oftheirimportance.
Asfarastheclients areconcerned, theeconomic, legalorother consequences ofprofessional
malpractice mayapply.
14. Aretheinternational standards developed byIFAC (International Education Standards
andGuidelines, International Standards onAuditing) andIASC (International Accounting
Standards) recognized orusedinyourcountry? Ifyes,please explain how. Ifno,please explain
why.
Theinternational standards mentioned arenotrecognized norapplied inArgentina, however,
theywere taken intoaccount when setting theprofessional standards ineffect.
Thebasic reasons forthisaretheneedtoadapt thestandards tothespecial economic situation
inArgentina, where theinflationary andhyper-inflationary processes made itnecessary totakespecial
precautions inthetechnical standards sothattheaccounting statements would reflect thevariations
inthecurrency 'spurchasing power, which were important overalongperiod.
15. Inrelation towhich activities does aparticular ethical code exist (audit, accounting,
insolvency, other)? Please specify itsmain policy objectives.
TheCode ofEthics governs exercise oftheprofession ingeneral andeachProfessional Council
issues itsowncodesetting outthestandards andtechnical principles thatshould underpin theconduct
andactivities ofitsmembers.
Thefoundation ofthestandards andprinciples istheresponsibility ofprofessionals towards
society. Their purpose isalsocontinually toenhance thecompetence andquality ofprofessional
behaviour andthuscontribute towards theprogress andprestige oftheprofession, withaviewtoits
better organization.
16. Which body orinstitution develops thiscode andmonitors itsimplementation? What
aretheconsequences incaseofbreach oftheethical codebyaprofessional orafirm?
Thebodies which naturally apply theethical standards aretheProfessional Councils intheir
respective districts through thecorresponding Disciplinary orEthical Tribunal, which mayimpose
anyofthefollowing penalties according totheseriousness oftheviolation:S/WPPS/W/7/Add.7
Page10
- Warning;
- private disciplinary measure;
- public disciplinary measure;
- suspension ofprofessional registration foruptooneyear;
- annulment ofprofessional registration.
These penalties areonlyapplicable toregistered professionals.
17. Arethere restrictions onmarketing, solicitation, advertising?
Withregard toadvertising, theofferofprofessional services mustbemade withrestraint and
mustrespect thedignity oftheprofession; guidelines arelaiddown toestablish when theserequirements
havebeenmet.
Concerning marketing, therearestandards toprevent unfair competition among professionals.
Asfarassolicitationisconcerned,theonlyrestrictionsarethosesetoutintherelevantdocuments
bytheentities calling forbids.
Under allcircumstances, professionals mustactloyally, withmoderation, dignity andprobity.
18. Arethere restrictions onfee-setting (minimum/maximum levels imposed, indicative scale,
etc.)?
Insome districts there aresuggested ratesforfeesforeachprofessional act.Inothers, which
areinaminority, there isaLawonRates, which fixes theminimum feesforspecific professional
acts. There arenoceilings.
IV. LICENSING REQUIREMENTS AND PROCEDURES
19. Apart from thequalification requirements, what arethelicensing requirements for
individuals inyour country?
InArgentina, theonlyrequirement forobtaining alicence toexercise theprofession inapersonal
capacity istoberegistered withtheProfessional Council inwhose district theenterprise receiving
theprofessional service issituated. Theperson seeking registration must nothavebeenthesubject
ofanypenalties imposed bytheDisciplinary orEthical Tribunal ofanyProfessional Council inany
other district orofanycriminal penalties thatprevent himfrom exercising theprofession.
Insome districts, anoathissworn onleaving university andwhere thisisnotthecasetheoath
istaken before theProfessional Council upon registration.
20. Arethere anyconditions imposed tobeeligible formembership oftherelevant professional
body(ies)? Please specify.
Thefollowing aretheconditions imposed formembership ofaprofessional body:
(a) Anauthorized qualification from anArgentine university; andS/WPPS/W/7/Add.7
Page11
(b) theabsence ofanyethical orcriminal penalties thatprevent exercise oftheprofession.
21. Arethere specific licensing requirements forprofessional firms?
Forapartnership ofgraduate professionals toberegistered withaProfessional Council that
maintains sucharegister, itisarequirement thatoneofthepurposes ofthepartnership must beto
supply theservices ofitseconomics graduates, thatallthemembers should possess therespective
qualifications andberegistered inoneofthedistricts inArgentina.
These partnerships actunder theresponsibility oftheprofessional intherespective economics
specialization. Inother words, professional liability isnottheresponsibility ofthepartnership but
oftheprofessional whoaffixes hissignature andisdesignated bythepartnership towhich hebelongs.
Theprofessional responsible mustberegistered withtheProfessional Council ofthedistrict inwhich
hecarries outhisprofessional activities onapermanent ortemporary basis.
There arenoother requirements.
22. Cananapplication forlicensing befiledatanytimeoftheyearorarethere specific dates
torespect? How longdoesittaketocomplete thewhole licensing procedure? Please specify in
caseofdifferences between individuals andfirms.
Anapplication forlicensing maybefiledatanytimeoftheyearandtherearenospecific dates.
Thetimerequired toobtain alicence doesnotgenerally exceed 15to20days.
Thisapplies notonlytoindividual professionals butalsotopartnerships ofprofessionals.
23. Arethere differences interms oflicensing requirements and/or procedures, according
totheactivities covered bythelicence (audit, insolvency, etc.)? Please specify. What kindof
documentation isnecessary/accepted? Aredocuments issued inother countries acceptable? Please
specify.
There arenodifferences interms oflicensing requirements and/or procedures according to
theactivities covered bythelicence.
Thefollowing documentation isrequired forregistration:
- Original copyofthedegree granted bytherelevant university;
- application forregistration containing personal information andphotographs;
- forpersons withdegrees granted byforeign universities orprofessional institutions,
these must berevalidated byanArgentine university subject tothefollowing:
(1) Theforeign degree must begranted following successful completion of
secondary education anditmust beproved thatthescope anddepth ofthe
requirements imposed andtheknowledge acquired arenotlessthanthose for
thesame subjects atArgentine universities.
(2) Uninterrupted residence inArgentina fornotlessthantwoyears, unless the
graduate isanArgentine citizen.S/WPPS/W/7/Add.7
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24. What happens when thelicensing conditions arenolonger respected bytheindividual
orthefirm?
Penalties areimposed andthesemayextend toannulment ofregistration, inaddition todecisions
bytheDisciplinary orEthical Tribunals where appropriate.
V. RECOGNITION OFQUALIFICATIONS
25. Arethere anypossibilities fortaking account ofqualifications acquired byforeign
professionals inanother country? Arethere bilateral agreements withother countries inthis
respect?
Article 2(c)ofLaw20.488/73 fixestheconditions fortaking intoaccount qualifications acquired
byforeign professionals inanother country andthesehavealready beenlisted inthereplytoquestion 23.
Thefollowing bilateral agreements havebeensigned:
- Recognition: Italy
Spain
Colombia
Ecuador
Peru
Chile
- Revalidation: Uruguay
Paraguay
Bolivia
26. Arethere anyautomatic recognition ormutual recognition agreements between your
professional bodies andtheir counterparts inother countries? Ifso,please specify themain
characteristics ofsuchagreements; ifnot,please explain why.
There arenoautomatic recognition ormutual recognition agreements between professional
bodies andtheircounterparts inother countries therefore nodetails canbegiven onthispossibility.
Consideration being given tothisissuewithin Mercosur through theGIMCEA (Mercosur Integration
Group forAccountancy, Economics andAdministration), withaview toharmonizing professional
exercise inthecountries thathavesigned theTreaty.
27. Where possibilities oftaking account offoreign qualifications exist, isafulllocal
examination oralocal training exceeding 12months required? Please specify. Isalocal licence
always necessary topractise aregulated accountancy activity? Please specify when thisisnot
thecase.
Itisalways necessary toobtain alocal licence inorder toexercise oneoftheeconomics
professions. Concerning thepossibility oftaking intoaccount qualifications acquired abroad, seethe
reply toquestion 23.
28. What aretheaccreditation/licensing requirements imposed onforeign professionals
authorized topractise intheir home country? Maycertain (regulated) activities becarried out
onthebasis ofaforeign licence?S/WPPS/W/7/Add.7
Page13
Theaccreditation/licensingrequirementsimposedonforeignprofessionalsauthorizedtopractise
intheirhome country arecovered byArticle 2(c)ofLaw20.488/73, asmentioned inthereply to
question 25.
VI. REGULATIONSGOVERNINGTHEESTABLISHMENTOFACOMME RCIALPRESENCE
29. Arethere anyrestrictions ontheform under which onecanestablish (partnership,
incorporation, other)? Please specify.
Theonlyrestrictions arethose mentioned inthereply toquestion 21.
30. Arethere restrictions onforeign direct investment andownership, including restrictions
applying tonotlocally qualified individuals orfirms? Please specify.
There arenorestrictions.
31. Isthere arequirement ofaminimum number orpercentage oflocaldirectors, managers
orstaff(please specify)?
There arenosuchrequirements.
32. Arethere restrictions ontheability oflocally established firms todevelop international
relations (membership ofaninternational network, association withforeign firms, etc.)? Please
specify.
Nosuchrestrictions exist.
33. Istheuseofinternational orforeign names restricted forfirms?
There arenorestrictions ontheuseofinternational orforeign names.
VII. REGULATIONS GOVERNING THEENTRY AND TEMPORARY STAY OFNATURAL
PERSONS FOR THE PURPOSE OFSUPPLYING ACCOUNTANCY SERVICES
34. Istheentryandstayofprofessionalssubjecttolabourmarkettestsoranyotherrestrictions?
Please specify.
Theentry andstayofprofessionals isnotsubject toanyrestrictions except forregistration
inaProfessional Council inorder lawfully toexercise theprofession inaccordance withArticle 2(c)
ofLaw20.488, asindicated inthereply toquestion 25.
35. Isthere anyprocedure facilitating thetemporary entry andstayofprofessionals tosupply
accountancy services? Please explain.
There isnosuchprocedure.
36. Arethereanyrestrictionsonhiringoflocalprofessionalsbyforeignfirmsandprofessionals?
Please explain.
Thismatter depends onforeign legislation. Thecontrary situation doesnotoccur inArgentina 's
regulations because there arenorestrictions except forregistration andrevalidation ofqualifications.S/WPPS/W/7/Add.7
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VIII. NATIONALITY/RESIDENCY REQUIREMENTS
37. Isacondition ofnationality/citizenship imposed topractise certain activities, tostartan
education, toobtain alicence, tobecome amember ofaprofessional body, etc.? Please specify.
Theonlyconditions arethose mentioned above, namely, revalidation ofdiplomas (forwhich
itisnecessary tobearesident ofArgentina fornotlessthantwoyears unless theholder ofthediploma
isanArgentine citizen), andregistration withtheProfessional Council inthedistrict inwhich the
professional activity isexercised.
Themigration legislation states thefollowing withregard toresidence:
(a) Any foreign citizen wishing toenter and/or remain inArgentina must obtain
authorization from theNational Department ofMigration;
(b) anyforeign citizen whoisgranted entry bytheNational Department ofMigration for
anyofthefollowing reasons isdeemed tobea"temporary resident": ...(e)forthe
purposes ofwork, whether ornotremunerated, ...onlyinthecaseofthefollowing
activities: ...andasanexception professionals andtechnicians whose services are
required bynatural orlegalpersons residing intheRepublic ofArgentina.
38. Isacondition ofestablishment, prior residency orresidency imposed topractise certain
activities, toobtain alicence, tobecome amember ofaprofessional body, etc.? Please specify
theconditions andthedefinition ofestablishment, residency, etc.when relevant. Isitpossible
tohave aprofessional establishment inmore thanonecountry?
Nowithregard tothefirstsentence andyeswithregard tothelastsentence, itispossible to
work asaprofessional inmore thanonecountry.
Theonlycondition imposed isthatindicated inthereply totheprevious question.