ACCOUNTING REGULATION FOR COMPANIES

Legal Guide Index

• Chapter 1: Protection to foreign investment
• Chapter 2: Foreign exchange and international investment regime
• Chapter 3: Corporate regulations
• Chapter 4: Foreign trade and customs
• Chapter 5: Labor regime
• Chapter 6: Colombian immigration regime
• Chapter 7: Colombian tax regime
• Chapter 8: Environmental regime
• Chapter 9: Energy market
• Chapter 10: Intellectual property
• Chapter 11: Real estate
• Chapter 12: Government procurement
• Chapter 13: Accounting regulation for companies

In Colombia, Law 1314 of 2009 established that companies must apply international financial reporting standards of international acceptance.

That is, all companies that carry out commercial acts must keep accounts under the technical accounting frameworks in force in the country, which are based on the International Financial Reporting Standards issued by the IASB (IFRS), without prejudice to the exceptions set forth in the same law. Below you will find the main principles of this regime to be taken into account when considering investments in Colombia.