Currently, Colombian Accounting Standards are established by the government, and they differ significantly from IFRS. The draft law is a joint effort of various government ministries and departments, including finance, public credit, industry and commerce, accountancy, banking, companies, securities markets, planning, taxes, and customs – all of the key bodies that would need to agree to such a fundamental change in Colombian accounting practice. Click for
More Information ("Proyecto de Ley: Por el cual se adoptan en Colombia los estándares internacionales de contabilidad, auditoría y contaduría").