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Flash news - Weekly news on Accounting and Compliance matters in Colombia
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1. Non-profit Entities (NPO) are part of the entities required to have a Transparency and Business Ethics Program with the issuance of Law 2195

Under the provisions of Article 9 of the law mentioned above, the District Legal Secretariat issued guidance to the NPO´s that are under the inspection, surveillance, and control of the Mayor's Office of Bogotá D.C, as well as district entities with competence for assessment, supervision, and management of said non-profit entities (NPO) through Circulars 058 of 2022 and 013 of 2023; where establishes that all entities must implement it either in its integral version (NPO with assets greater than 1,000 current legal monthly minimum wages and/or that have implemented a risk management system) or simplified (NPO with assets of less than 1,000 wages current legal monthly minimum wages and/or that do not have a risk management system implemented).

All transparency and business ethics programs, including the compliance policy contained therein, must be approved by the NPE Board of Directors, or by the highest corporate body, in case that it does not have a Board of Directors.

See:
https://jadelrio.com/Colombia/29/1.Ley_2195_2022.pdf

https://www.alcaldiabogota.gov.co/sisjur/normas/Norma1.jsp?i=130477&dt=S

https://jadelrio.com/Colombia/29/3.adminverblobawa.pdf 

 

2. PUC chart of accounts and requirements for accounting supports

The Technical Council of Public Accounting, through concept 123 of April 12th, 2023, recalled that upon the entry into force of the new financial information frameworks for Groups 1, 2, and 3 (Law 1314 of 2009 and its regulatory decrees), it means that it is the power of each entity to define its catalog of accounts, based on the recognition, measurement, presentation, and disclosure requirements; however, some Supervision entities have structured account catalogs that are mandatory for the reporting of information to said authorities.

Similarly, it expressed the need to comply with the provisions of Annex 6 of Decree 2420 of 2015 regarding accounting vouchers, among which is that accounting be kept in Spanish, that economic facts are documented through supports, internal or external origin, duly dated and authorized by those who intervene in them or prepare them, that the vouchers are kept in chronological order, among others.

See:

https://jadelrio.com/storage/Boletines/Colombia/Flash%2029/4.2023-0123-Catalogo-de-cuentas-Uso-de-PUC-s.pdf 

https://jadelrio.com/Colombia/29/5.Compilacion-Anexo-6-a-diciembre-31-de-2020-Normas-sobre-Sistema-Documental-2.pdf 

 

3. Information that the outgoing Accountant must deliver

The Accounting Technical Council recalls that both the client's accounting and other documents and papers so that the accountant can fulfill his functions are the client's or the company's property. Therefore, at this time when some companies make changes or rotation of external accountants, through concept 105 of April 5th, 2023, it responds to a query on the matter, indicating that what is recommended is that the outgoing external accountant prepares a connection report destined for the Management of the entity to which the service was provided. The charge is delivered through a connection process with the new accountant, or the personnel designated by the entity. However, it is relevant to mention that the entity's accounting documents belong to the organization and are not always the accountant's responsibility since other areas often keep accounting supports, so it is essential to verify the specific responsibilities established in the service contract.

See: https://jadelrio.com/Colombia/29/6.2023-0104-Inf-a-entregar-por-el-cont-saliente-JMPB-JECR-JJBT.pdf 

 

4. Special Tax Regime (RTE), deadlines for FY2023

Law 2277 of 2022, through Article 24, modified Article 364-5 of the TC to establish that RTE entities must update their qualification in said special regime annually in the first six months of each year. By this modification, the term for 2023 ends on June 30th, unlike previous years, which expired on March 31on March 31st.

In the same way, Article 23 included the modification that allows those interested in the qualification of the requirements that were not met in the application to be informed so that they can correct said situation in the month following the communication.

See: https://jadelrio.com/Colombia/Flash29/7.Ley_2277_de_2022.pdf

 

The content of this newsletter is merely informative, that´s why it cannot be used under any circumstances as advice on the matter described in it. If you need advice on any of the aspects discussed, our team of professionals will be willing to assist you.

contacto@jadelrio.com 

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