{"url_path":"/sec/bap/10-k/2026/item-15","section_key":"item-15","section_title":"Item 15 CONTROLS AND PROCEDURES","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-04-27","source_url":"https://www.sec.gov/Archives/edgar/data/1001290/0001001290-26-000008-index.html","accession_number":"0001001290-26-000008","cik":"0001001290","ticker":"BAP","issuer_name":"CREDICORP LTD","edgar_url":"https://www.sec.gov/Archives/edgar/data/1001290/0001001290-26-000008-index.html","primary_entity_key":"0001001290","primary_entity_name":"CREDICORP LTD"},"word_count":1329,"has_tables":true,"body_markdown":"ITEM 15.CONTROLS AND PROCEDURES\n\n15.ADisclosure Controls and Procedures\n\nOur management, with the participation of and under the supervision of our principal executive officer and principal financial officer, has evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of December 31, 2025. Based on this evaluation, our management, principal executive officer, and principal financial officer have concluded that our disclosure controls and procedures are effective in ensuring that information that we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in SEC rules and forms.\n\n15.BManagement’s Annual Report on Internal Control over Financial Reporting\n\nOur Board of Directors and management are responsible for establishing and maintaining adequate internal control over financial reporting. Our framework for internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation and fair presentation of published financial statements in accordance with IFRS accounting standards, as issued by the IASB.\n\nOur framework for internal control over financial reporting includes policies and procedures that:\n\n•pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect transactions and dispositions of assets;\n\n•provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements, and our receipts and expenditures are being made only in accordance with authorizations of our management and IFRS; and\n\n•provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of our assets that could have a material effect on our financial statements.\n\nBecause of inherent limitations, internal controls over financial reporting may not prevent or detect misstatements. Also, projections about the effectiveness of our internal controls are subject to the risk that controls may become inadequate due to changes in conditions or deterioration in compliance with policies or procedures.\n\nOur management assessed the effectiveness of our internal control over financial reporting as of December 31, 2025, based on the framework set forth by the COSO in Internal Control-Integrated Framework (2013 Framework). Based on this assessment, our management identified no material weakness in our internal control over financial reporting and believed that, as of December 31, 2025, our internal control over financial reporting was effective, which means that each of the relevant components and seventeen principles are present and functioning and the five components operate together in an integrated manner, as required by COSO.\n\nOur assessment of, and conclusion on the effectiveness of internal control over financial reporting did not include the internal controls of Pacifico S.A. Entidad Prestadora de Salud and subsidiaries, which is included in the 2025 consolidated financial statements of the Company and constituted 0.75% and 2.88% of total and net assets, respectively, as of December 31, 2025 and (0.52%) of the net result before income tax for the year then ended.\n\nThe effectiveness of the Company’s internal control over financial reporting as of December 31, 2025, has been audited by Tanaka, Valdivia, Arribas & Asociados Sociedad Civil de Responsabilidad Limitada located in Lima, Peru, an independent registered public accounting firm, and a member of Ernst & Young Global Limited.\n\n268\n\n[Table of Contents](#ib149d99176634ff8adf88f8fa17ce583_7)\n\n15.CAttestation Report of Independent Registered Public Accounting Firm\n\nReport of Independent Registered Public Accounting Firm\n\nTo the Shareholders and Board of Directors of Credicorp Ltd.\n\nOpinion on Internal Control Over Financial Reporting\n\nWe have audited Credicorp Ltd. and subsidiaries’ internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework) (the COSO criteria). In our opinion, Credicorp Ltd. and subsidiaries (the Company) maintained, in all material respects, effective internal control over financial reporting as of December 31, 2025, based on the COSO criteria.\n\nAs indicated in the accompanying Management’s Annual Report on Internal Control over Financial Reporting, management’s assessment of and conclusion on the effectiveness of internal control over financial reporting did not include the internal controls of Pacifico S.A. Entidad Prestadora de Salud and subsidiaries, which is included in the 2025 consolidated financial statements of the Company and constituted 0.75% and 2.88% of total and net assets, respectively, as of December 31, 2025 and (0.52%) of the net result before income tax for the year then ended. Our audit of internal control over financial reporting of the Company also did not include an evaluation of the internal control over financial reporting of Pacifico S.A. Entidad Prestadora de Salud and subsidiaries.\n\nWe also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated statements of financial position of the Company as of December 31, 2025 and 2024, the related consolidated statements of income, comprehensive income, changes in equity and cash flows for each of the three years in the period ended December 31, 2025, and the related notes and our report dated April 27, 2026 expressed an unqualified opinion thereon.\n\nBasis for Opinion\n\nThe Company’s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting included in the accompanying Management’s Annual Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on the Company’s internal control over financial reporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.\n\nWe conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects.\n\nOur audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.\n\nDefinition and Limitations of Internal Control Over Financial Reporting\n\nA company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.\n\n269\n\n[Table of Contents](#ib149d99176634ff8adf88f8fa17ce583_7)\n\nBecause of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.\n\n/s/ Tanaka, Valdivia, Arribas & Asociados Sociedad Civil de Responsabilidad Limitada\n\nA member of Ernst & Young Global Limited\n\nLima, Peru\n\nApril 27, 2026\n\n15.DChanges in Internal Control over Financial Reporting\n\nDuring the period covered by this Annual Report, no changes were made to our internal control over financial reporting that have materially affected, or are likely to materially affect, our internal control over financial reporting."}