REGULATIONS AND CURRICULAR STRUCTURE OF THE PUBLIC

COUNTER

PRESENTED BY:
MARIA HELENA SANDOVAL BAEZ
CODE:
1223639

FRANCISCO DE PAULA SANTANDER UNIVERSITY

FACULTY OF BUSINESS
PUBLIC COUNCIL PROGRAM
SAN JOSÉ DE CÚCUTA, NORTH OF SANTANDER
MAY 2018
 REGULATIONS AND CURRICULAR STRUCTURE OF THE PUBLIC
ACCOUNTANT

PRESENTED BY:
MARIA HELENA SANDOVAL BAEZ
CODE:
1223639

WORK PREDICTED AS A PARTIAL REQUEST, TO CHOOSE FOR A NOTE IN

THE AREA OF INTRODUCTION TO THE CONTADURIA

PRESENTED TO:

JOSÉ ANTONIO ÁLVAREZ TRLLOS

PHD. DR. MAG. ESP. CPT. LIC

FRANCISCO DE PAULA SANTANDER UNIVERSITY

FACULTY OF BUSINESS
PUBLIC COUNCIL PROGRAM
SAN JOSÉ DE CÚCUTA, NORTH OF SANTANDER
MAY 2018
 INTRODUCTION

Every public accountant must comply with the regulations, in this work we will address the
different rules that must be followed in order to be a good accountant and exercise this
beautiful profession correctly. We have different types of laws, decrees and resolutions,
such as:

Law 145 of 1960 of the Congress of the republic we will see reflected in its different
articles that is a public accountant, that we only have a class that could be titled or
authorized according to its case. In order to be registered as an accountant, the general
requirements must be met. The quality of the accountant is very important, because he is in
charge of keeping control of the companies or in any role in which he performs.
Law 43 of 1990 in this law 1435 of 1960 is added. There are the different activities of
accounting science in general such as the organization, review and control of accounting:
among other functions. For registration as a public accountant, it is accredited by the
professional card that will be issued by the Central Board of Accountants. Public
accountants may not serve as intermediaries in the selection of personnel engaged in
general accounting science activities. The public accountants are subject to the vigilance of
the central board of accountants also highlighting what are the functions of the board.
Decree 2650 of 1993. P.U.C (single account plan) we will highlight its objectives, content,
description and dynamics, its field of application, norms and inflation adjustments.
Resolution 3459 of 2003 considers that by decree 2566 of September 10, 2003, the
National Government regulates the minimum conditions of quality and other requirements
for the offer and development of academic programs of higher education.
Law 298 of 1996 in this, highlight an essential part for public accountant as it is: the
general accounting of the nation, functions of the general accountant of the nation,
accounting offices, organic structure; among other.
Law 1314 of 2009, this law intervenes in the economy, to expand standards of financial
information and information assurance, is applied to all natural and legal persons who are
obliged to keep accounting. We also understand that by accounting and financial reporting
standards, systems composed of postulates, principles, and limitations; among others, the
resources and economic facts must be recognized according to their essence or economic
reality.
The national education minister resolves the academic donation of the program, curricular
aspects.
 DEVELOPMENT OF THE TOPIC

LAW 145 OF 1960

(DECEMBER 30)
THE CONGRESS OF COLOMBIA DECREES:

Article 1º the public accountant shall be understood as the natural person who by means of
the registration proving his professional competence, is authorized to give public faith of
certain acts as well as to perform certain positions, in the terms of this law.

Article 2º only persons who have complied with the requirements set forth in this Law and
in the regulations that regulate it may practice as public accountants.
Whoever practices this profession illegally will be sanctioned.

Article 3º there will be a single class of public accountant and may be titled or authorized,
as the case may be.

Article 4º to be registered as a public accountant must meet the following general

requirements, in addition to the special requirements in each case by this law:

a) Be a Colombian national in the exercise of civil rights, or a foreigner domiciled in the

country with not less than 3 years prior to the respective application for registration.
b) Prove moral solvency with affidavits from 3 persons of known reputability, preferably
those with which the interested party has worked.

Article 5º to be registered as certified public accountant, it is required:

a) Having obtained the corresponding degree in a Colombian faculty authorized by the

Government.
b) Or have obtained the title of public accountant or equivalent denomination, issued in
foreign institutions of countries with which Colombia has agreements.

Article 6º to be registered as an authorized public accountant, you must:

a) Have obtained enrolment as a public accountant before the central board of accountants.
b) Or possess the title issued by the Superintendence of Corporations.
Article 7 ° The person in whom some of the following causes of disabilities may attend
shall not be registered as a public accountant:

1. Having violated the reservation of books or commercial information of persons or

entities to whose service he had worked or of which he had knowledge in the exercise of
positions or public functions.
2. To have been sentenced for one of the offenses dealt with in titles III VIII inclusive, XIII
and XV of book II of the penal code.

Article 8º the quality of public accountant will be needed in all cases in which the laws
require it, and also in the following:

1. To perform the position of fiscal auditor of companies for which the law requires the
provision of that or an equivalent.
2. To authorize the balance sheets of banks, insurance companies and general deposit
warehouses.

Article 9º the attention and signature of a public accountant shall show, unless there is
evidence to the contrary, that the respective act conforms to the legal requirements, as well
as to the statutes in the case of legal persons.

Article 10. The opinion of a public accountant on a balance sheet, as Statutory Auditor,
auditor or auditor of accounts, accompanied by a brief report.

Article 11. Public accountants shall be assimilated to public officials for the purpose of
penal sanctions for the offenses and crimes committed in the exercise of activities of their
profession.

Article 12. Firms or professional organizations dedicated to the exercise of accounting

activities may only perform the functions ascribed to public accountants under the
responsibility of persons who have obtained the corresponding registration.

Article 13. Auditors, controllers, auditors and auditors of companies dedicated to the
exploitation of natural resources, in addition to the status of accountants duly registered
with the central board.

Article 14. The Central Board of Accountants, created by legislative decree number 2373 of
1956, will continue to function in the capital of the Republic as a dependency of the
National Ministry of Education.
Article 15. The Central Board of Accountants shall have the character of the disciplinary
entity of the profession, in the exercise of the following functions:

1. Decide on the registration requests of public accountants.

2. Authorize through its president.
3. The others attributed by law.

Article 16. The members of the Central Board of Accountants will take possession of their
positions before the Ministry of Education, and those who do not have the character of
public officials will accrue for each meeting to attend the assignment indicated by the same
ministry.

Article 17. To comply with what was ordered in the previous article and with the other
provisions that in this law are contemplated for the permanent and effective functioning of
the central board of accountants, the government creates the charges and will indicate the
corresponding assignments.

Article 18. The request for registration of the public accountant shall be placed on stamped
paper before the central board, indicating the category for which it is formulated and
accompanying it with the documents and receipts of the case.

Article 19. The following shall be grounds for cancellation of the registration of a public
accountant:

1. To have executed acts that violate the code of professional ethics.

2. Mental derangement, habitual drunkenness or other vices or serious disabilities that
temporarily disable him for the proper exercise of the profession.
3. The rest provided by law.

Article 20. The following shall be grounds for cancellation of the registration of a public
control:

1. Having violated the commercial reservation of books, papers and reports that he had
known in the exercise of the profession.
2. Have been convicted of any of the crimes indicated in number 3 of article 7 of this law.

Article 21. The decisions of the board issued based on the grounds of moral order. The
fines imposed by the Central Board of Accountants in accordance with this law will be in
favour of the Colombian Institute of Social Security and will be imposed ex officio or at the
request of any person.
Article 22. The pending applications that on registration of public accountants are currently
held by the central board.

LAW 43 OF 1990
(DECEMBER 13)
THE CONGRESS OF COLOMBIA DECREE:

Of the profession of Public Accountant.

Article 1º The Public Accountant is understood to be the natural person who, by means of
the registration that proves his professional competence in the terms of this Law, is
authorized to give public faith of facts pertaining to his profession, to rule on financial
statements, and perform the other activities related to Accounting Science in general.

Article 2º For the purposes of this law are understood activities related to accounting
science in general all those involving organization, review and control of accounting,
certifications and reports on financial statements, certifications issued with fundamentals in
accounting books, audit of audit services, as well as all those activities related to the nature
of the professional function of the Public Accountant.

Article 3° Registration of the Public Accountant. The registration as a Public Accountant

will be accredited by means of a professional card that will be issued by the Central Board
of Accountants.

Article 4 "Public Accountant Companies" are the legal entity that contemplates the main
purpose of developing through Intermediate of its partners and its dependents or by virtue
of contracts with other Public Accountants, rendering their own services and of the
activities related to accounting science in general indicated in this law.

Article 5 ° State surveillance. Public Accountant companies will be subject to the oversight
of the Central Board of Accountants.

Article 6 º Of the generally accepted accounting principles. It is understood by principles or

accounting standards generally accepted in Colombia, the set of basic concepts and rules
that must be observed when recording and reporting, on the affairs and activities of natural
or legal persons.

Of the exercise of the profession.

Article 7º of the generally accepted auditing standards. The generally accepted auditing
standards are related to the professional qualities of the Public Accountant, with the use of
his good judgment in executing:

1. Personal rules.
2. Rules relating to the execution of work.

Article 8º of the rules that Public Accountants must observe. The accountants
Publics are required to:

1. Observe the rules of professional ethics.

2. Comply with the legal regulations in force, (as well as the dispositions emanated from
the organisms of surveillance and direction of the profession)

Article 9º through work papers, the Public Accountant will record the work done to issue
his professional judgment. Such papers, which are the exclusive property of the Public
Accountant, are prepared in accordance with generally accepted auditing standards.

Article 16. The Central Board of Accountants shall be the disciplinary tribunal of the
profession and shall be composed of eight (8) members as follows:

1. The Minister of National Education or his delegate.

2. The President of the National Securities Commission or his delegate.
3. The Superintendent of Companies or his delegate.

Article 17. Election of representatives of public accountants.

Article 18. The members of the Central Board of Accountants referred to in the numerals
5o., 6o. and 7th. Article 16 shall have a period of two (2) years, counted from the month of
January following the date of its designation and may not be re-elected for more than one
term.

Article 19. Regarding the members of the Central Board of Accountants, the same causes of
inability, impediment and recusal as indicated for the officials of the Jurisdictional Branch
of the Public Power.

1. Report to competent authorities who identifies and signs as Accountant

2. The others that the laws confer.

Article 21. The Central Board of Accountants shall have the necessary employees, (freely
appointed and removed from it), the salaries and other expenses of the Central Board of
Accountants, shall be included within the budget of the Ministry of Education.
Article 22. The decisions of the Central Board of Accountants subject to the resources
established in the Contentious Administrative Code shall be adopted with the favourable
vote of 3/4 of its members. The other decisions will be approved by an absolute majority of
its members.

Article 23. Of the sanctions. The Central Board of Accountants may impose the following
Sanctions:

1. Admonitions in the case of minor faults.

2. Successive fines of up to five minimum wages each.
3. Suspension of registration.
4. Cancellation of registration.

Article 24. This sanction will be applied when the offense does not entail the commission
of a crime or serious violation of professional ethics. The amount of the fines imposed by
the Central Board of Accountants will be proportional to the seriousness of the faults
committed.

Article 25. They are grounds for suspension of the registration of an Accountant
Public, the following:

1. The violation (manifest) of professional ethics standards.

Article 26. They are grounds for cancellation of the registration of an Accountant
Public the following:

1. To have been convicted of a crime against the public faith.

2. Having practiced the profession during the time of suspension of registration.
3. Being a repeat offender for the third time in suspension sanctions.
4. Having obtained the registration based on false documents.

From the Technical Council of Public Accounting.

Article 29. Of nature. The Technical Council of Public Accounting is a permanent body
responsible for the scientific technical orientation of the profession and for the investigation
of accounting principles and auditing standards of general acceptance in the country.

Code of professional ethics

Article 36. The society in general and companies in particular are economic units subject to
various external influences, the Public Accountant in the development of their professional
activity should use in each case the methods of analysis and evaluation more appropriate to
the situation presented .

Of the relations of the Public Accountant with the users of his services.

Article 41. The Public Accountant in the exercise of the duties of Statutory Auditor and /
or external auditor is not responsible for the administrative acts of the companies or persons
to whom he provides his services.

Article 42. The Public Accountant shall refuse the provision of his services for acts that are
contrary to morals and ethics or when there are conditions that interfere with the free and
Proper exercise of his profession.

Article 44. The Public Accountant may interrupt the provision of their services for some
reasons.

Article 46. As the economic remuneration of professional services is a right, the

Public Accountant will set his fees in accordance with his scientific and / or technical
capacity and in relation to the importance and circumstances in each of the cases that
correspond to comply, but always by written agreement between the Public Accountant and
the user.

Article 47. When a Public Accountant has acted as an official of the State and within his
official duties has proposed, ruled or ruled in a particular matter, he may not recommend or
advise personally for or against the interested parties in the same business.

Article 48. The Public Accountant may not provide professional services as an advisor,
contractor employee to natural or legal persons who have been audited or controlled in his
capacity as public official or Statutory Auditor.

Article 49. The Public Accountant, who exercises any of the functions described in the
previous article, will refuse to recommend the persons with whom he has intervened, and
will not influence to ensure that the case is resolved favourably or unfavourably.

Article 50. When a Public Accountant is required to act as an external auditor,

Statutory auditor, accounting auditor or arbitrator in accounting controversy, shall refrain
from accepting such designation if he has, with any of the parties, kinship within the fourth
degree of consanguinity.

Article 51. When a Public Accountant has acted as employee of a company, he shall refuse
to accept positions or functions of external auditor or Statutory Auditor of the same
company or its subsidiary and / or subsidiaries for at least six (6) months after having
ceased in its functions.

Of advertising.

Article 52. (Advertising must be done in a measured manner and) professional

announcements they will contain the name or business name, address, telephone, specialty,
titles or licenses respective.

Relations of the Public Accountant with his colleagues.

Article 54. The Public Accountant must always bear in mind that the behaviour with his
Colleagues should not only be governed by strict ethics, but should be animated by a spirit
of fraternity and professional collaboration and keep in mind that sincerity, good faith and
Loyalty is basic conditions for the free and honest exercise of the profession.

The professional secret or confidentiality.

Article 68. Constitutes a breach of ethics without prejudice to administrative, civil or

criminal penalties that may arise, the presentation of altered documents or the use of
irregular resources for the registration of titles or for the registration of Public Accountants.

Article 71. The Public Accountant will not allow the use of his name to conceal people who
illegally practice the profession.

Article 72. The specific legal situations and the rights acquired by the Public Accountants
registered before the Central Board of Accountants and by the companies that have
obtained the agreement or authorization to exercise the activities of the Public Accounting
Office before the term is respected. Of the present Law.

DECREE 2650 OF 1993

(DECEMBER 29)
P.U.C

Article 1º The Single Plan of Accounts seeks uniformity in the registry of economic
operations carried out by merchants in order to allow the transparency of accounting
information and, consequently, its clarity, reliability and comparability.

Article 2º The single account plan is composed of a catalog of accounts and the description
and dynamics for the application thereof, which must be observed in the accounting record
of all operations or economic transactions.

Article 3º The Catalog of Accounts contains the ordered and classified relation of the
classes, groups, accounts and sub-accounts of the Assets, Liabilities, Equity, Income,
Expenses, Cost of Sales, Production or Operating Costs and Accounts of Order, identified
with a numerical code and its respective denomination.

Article 4º The descriptions express or detail the concepts of the different classes, groups
and accounts included in the catalog and indicate the operations to be recorded in each of
the accounts.

Article 5º The single plan of accounts must be applied by all natural or legal persons who
are obliged to keep accounts, in accordance with the provisions of the Commercial Code.
Said persons for the effects of this Decree, will be denominated economic entities.

Article 6º The Single Account Plan must be applied in accordance with the following rules:

1. Account catalog
2. Dynamics and descriptions

Article 7º Auxiliaries In addition to the subaccounts indicated in the indicated catalog, the
auxiliary services may be used that are required according to the needs of the economic
entity, for which it will be sufficient to incorporate them from the seventh digit.

Article 8º Adjustments for inflation. Comprehensive adjustments for inflation may be

recorded within each of the respective sub-accounts.

Article 9º the denomination given to the items that make up the Catalog of the Single
Account Plan, may be applied using abbreviations or part of the denomination as
appropriate.

Article 10. Registered trade books must be applied by applying the numerical codes and
denominations of the Catalog of Accounts contained in this Decree.

Article 11. Any presentation of basic Financial Statements to the administrators, partners,
State entities and third parties must be made using the names indicated in the Catalog
contained in the Sole Account Plan. Likewise, it will indicate the numerical codes, in the
event that they are requested by any of these.
 RESOLUTION NUMBER 3459 OF 2003
(DECEMBER 30)

By which the specific characteristics of quality are defined for the programs of
Undergraduate professional training in Public Accounting

CONSIDERING:

That by decree 2566 of September 10, 2003, the National Government regulated the
minimum quality conditions and other requirements for the offer and development of
Academic programs of higher education.
That in accordance with the provisions of articles 1 and 4 of Decree 2566 of September 10,
2003, the Ministry of National Education is responsible for setting the specific quality
characteristics for each program, with the support of higher education institutions,
associations of Faculties or professionals or academic peers.
That in the definition of the specific characteristics of quality for the offer and development
of undergraduate professional training programs applicable in the area of Public
Accounting, the active participation of the academic community was counted in the
meetings organized in the six Regional Higher Education Committees (CRES) and in other
academic settings; achieving in its definition high levels of consensus and a greater
commitment to the quality of Higher Education.
That due to the above, it is necessary to define the specific quality characteristics applicable
to undergraduate professional training programs in Public Accounting.

LAW 1314 OF 2009

(JULY 13)

Article 1º will intervene in the economy, limiting economic freedom, to ex-order

accounting, financial information and information assurance rules, which form a single and
homogeneous system of high quality, understandable and enforceable, by virtue of which
the accounting reports and, in particular, the financial statements, provide understandable,
transparent and comparable financial information, pertinent and reliable, useful for
economic decision making by the State, the owners, officers and employees of the
companies, the current investors or potential and other interested parties, to improve
productivity, competitiveness and the harmonious development of business activity.

Article 3º for the purposes of this Law, accounting and financial information standards are
understood as the system composed of postulates, principles, limitations, concepts, general
technical standards, specific technical standards, special technical standards, technical
standards on disclosures, technical standards. on records and books, interpretations and
guides, which allow to identify, measure, classify, recognize, interpret, analyse, evaluate
and inform the economic operations of an entity, in a clear and complete, relevant, credible
and comparable manner.

Article 4º Independence and autonomy of the tax rules against those of accounting and
financial information. The regulations issued in the development of this Law will only have
a tax effect when the tax laws expressly refer to them or when they do not regulate the
matter.

Article 5º information assurance standards the system composed of principles, such

standards are composed of ethical standards, quality control standards of the work,
historical financial information audit standards, historical financial information review
standards and standards for assurance of information different from the previous one.

Article 8º Criteria to which the Technical Council of the Public Accounting Office must
submit. In the preparation of draft standards that will be submitted for consideration by the
Ministries of Finance and Public Credit and Commerce, Industry and Tourism.

Article 9º The Central Board of Accountants, Special Administrative Unit with legal
personality, created by Legislative Decree 2373 of 1956, currently attached to the Ministry
of Commerce, Industry and Tourism, in development of the powers assigned in Article 20
of Law 43 of 1990, will continue to act as a disciplinary tribunal and registration body of
the accounting profession, including within the scope of its competence to the Public
Accountants.

Article 10. Without prejudice to the powers conferred in other provisions, related to the
subject matter of this Law, in the performance of the functions of inspection, control or
surveillance, corresponds to the supervisory authorities.

Article 11. Institutional Adjustments In accordance with the provisions of article 189 of the
Political Constitution and other concordant norms, the National Government will modify
the conformation, structure and functioning of the Central Board of Accountants and the
Technical Council of Public Accounting, to guarantee that they can adequately fulfill their
functions .

Article 12. Coordination between public entities. In exercising their constitutional and legal
functions and competencies, the different authorities with competence over private or
public entities must guarantee that the accounting, financial information and information
assurance standards of those participating in the same economic sector are homogeneous,
consistent and comparable.
Article 13. As of January 1 of the year 2010 and within six (6) months following this date,
the Technical Council of Public Accounting will make a first revision of the accounting,
financial information and assurance rules of information.

Article 14. The standards issued jointly by the Ministry of Finance and Public Credit and
the Ministry of Commerce, Industry and Tourism shall enter into force on January 1 of the
second taxable year following its enactment, unless by virtue of its complexity , consider it
necessary to establish a different term.

Article 15. When the legal regime of a non-merchant legal entity is applied, it should be
noted that it does not contemplate rules on accounting, financial statements, internal
control, administrators, rendering of accounts, reports to the highest corporate bodies.
 CONCLUSION

We observed that in the different types of laws and decrees highlight everything that a
public accountant should and should not perform at the time of practicing this profession,
they must follow a series of rules and regulations to be able to exercise their work correctly
and avoid bad understood, as are the sanctions that some of them are named in the law 43
of 1990 in its article 23, or even stop being an accountant and lose all the time that has been
dedicated to this.

The public accountants are the only people that together with the notaries that are in the
faculty of giving public faith, therefore we must read and analyse very well everything that
is presented to us before signing, because if this is not done it could bring very serious
consequences such as prison, among others.

To be registered as a public accountant in Colombia, it is necessary to fulfil a series of

requirements that are named in Law 145 of 1960. In this same law we highlight another
important aspect because these may be causal to not be registered as a public accountant.