Financial Statement Audit Service
The Audit of Financial Statements is a professional service of exclusive application by the Public Accountant entitled through which an independent public accountant or a public accountants signing, evaluates certain financial information prepared by its client in the light of the applicable accounting principlesTo the same (Technical Council of Public Accounting, 2018). The provision of this service governed by Decree 302 of February 20, 2015, emanating from the Ministries of Commerce, Industry and Tourism;and Finance and Public Credit by determining the regulatory technical framework for the regulations of assuring the information that culminates with the issuance of a document, called the opinion, in which the auditor expresses its opinion about compliance with the financial information that it evaluates with the principlesof accounting applicable to it, if these are reasonably presented or not. The challenge of the convergence of the implementation of the IFRS, is directly related to the obligation of the application and compliance with the International Audit Standards, on the norms issued by the National Government and in accordance with which, the fiscal reviewer or fiscal reviewer orExternal Auditor must develop your audit at all stages and processes destined to it and on which the reasonable security that dictates in the financial statements of the entities to which it provides their services depends. With the expedition of Decree 0302 of 2015, the “Code of Ethics for Accounting Professionals” whose content is harmonious and in greater detail, with the content in Law 43 of 1990 (modified by Law 145of 1960, which regulates the exercise of the profession of the public accountant).
International Financial Information Standards for SMEs are governed in Colombia by a group of Nomas, composed of a single law and a series of decrees. Decree 3022 of December 27, 2013 of the Ministry of Commerce, Industry and Tourism, indicates the regulatory technical framework for financial information trainers that make up Group 2.
The base standard that regulates or regulates the principles and norms of accounting and financial information and even the information assurance standard in Colombia, is Law 1314 of 2009, which indicates the competent authorities, in the procedure for its expedition andThe entities responsible for monitoring compliance determine. The 200-000010 External Circular of the Superintendence of Companies, fixed for Group 2, the presentation of the Opening Financial Status-ESFA-by the financial information trainers classified in the these ESFA group with a cut at January 1of 2015, they were presented in May 2015, the Supersociedades Superintendency notified societies that are part of the selected sample obligation to send this information and indicated the form and terms of its presentation, in accordance with the supervision modelestablished in numeral 1 of the art. 3 of Decree 302 of 2013. According to each Superintendency you must issue its circulars and notify the dates of presentation of its vigilates and the required reports, object of our audit.
Decree 3022 of 2013 was responsible for regulating the regulatory technical framework with respect to the NIF implementation process for group 2, including state companies, which take the decree and apply it as circular. This decree indicates the application schedule, which includes stages for a successful adoption process.
Critical vision and conclusions
Once the guide for a successful fiscal review process is generated and analyzed by its normative support, this last part of the document performs a critical analysis of what the fiscal review of the Colombian business context represents. The fiscal review as initially sustained, constitutes a vital axis in the processes of business sustainability and strengthening of the productive fabric in terms of private sector efficiency and in sectoral terms for the public sector, representing an ethical component and control of the actions of the actionsthat organizations develop and that represent the guarantee of well -being or not for the communities where they develop their actions.
Thus, the fiscal review is a mechanism tending to change the culture of power of companies and the State, consolidating citizens mechanisms to regulate this power and intervene to prevent organizations from injuring the stability of the territories, theircommunities and individuals where it develops its corporate purpose.
From this perspective, the fiscal review, although framed in a financial process, is based on an ethical basis linked to the economic and business action of the business world, a complex, competitive and changing world, reason on which you can affirm That at present there is not enough clarity of the importance of the tax rivisory and its social responsibility, mainly from the vision of morality since non -ethical practices have become increasingly common characteristics in acting both in the Public and private sector, which constitutes a call to deepen the social responsibility of the fiscal review, since it is in scenarios such as the Colombian business cultural where the structuring of independent, permanent, permanent, permanent and ethical fiscal review processes is necessary to purpose that this process contributes to the social and economic development of the country and the strengthening of the production fabric Business, since the review of the financial actions of public and private companies guarantees efficiency and harmony between business action and society where it develops its action.
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