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42 OF 1993

(January 26)

Official Journal No. 40,732 of 27 January 1993

On the organization of the financial control system and the agencies that exercise it.

THE CONGRESS OF COLOMBIA,

DECRETA:

GENERAL PROVISIONS.

ARTICLE 1o. This Law includes the set of precepts that regulate the principles, systems and procedures of financial fiscal control, of the bodies that exercise it at the national levels, departmental and municipal and applicable legal procedures.

ARTICLE 2o. They are the subject of tax control lorgans that Integrate the legislative and judicial branches, the autonomous and independent bodies such as those of control and electoral, the bodies that do part of the structure of the national administration and other national entities, the bodies created by the National Constitution and the law that have special regime, the societies of mixed economy, the companies industrial and commercial state, private individuals handling funds or assets the State, the legal persons and any other type of organization or company that handles State resources in relation to these and the Bank of the Republic.

It is understood by national administration, for the purposes of this law, the entities listed in this article.

PARAGRAFO. The results of the fiscal surveillance of the Bank of the Republic will be sent to the President of the Republic, for the exercise of the attribution conferred on him in the final article of the article 372 of the National Constitution. Without prejudice to what is established by the Organic Law of the Bank of the Republic.

ARTICLE 3o. The bodies that integrate the structure of the departmental and municipal administration and the entities of this order listed in the article are subject to fiscal control in the territorial order. previous.

For the purposes of this Law, territorial administration means the entities referred to in this article.

ARTICLE 4. Fiscal control is a public function, which monitors the fiscal management of the administration and of individuals or entities that handle funds or assets of the State in all its orders and levels.

This will be exercised in a later and selective manner by the Comptroller General, departmental and municipal comptroller, the auditors, the audits and municipal public company tax review, according to the procedures, systems, and principles set forth in this Act.

ARTICLE 5o. For the purpose of Article 267 of the National Constitution, the surveillance of activities, operations, and processes is understood by subsequent control. executed by the control subjects and the results obtained by them. Selective control means the selection by means of a technical procedure of a representative sample of resources, accounts, operations or activities to obtain conclusions about the respective universe in the development of the fiscal control.

For the exercise of subsequent and selective control, the contralories will be able to perform the proceedings they consider relevant.

ARTICLE 6o. The provisions of this Law and those issued by the Comptroller General of the Republic, in exercise of the powers conferred by the article 268 numeral 12 of the National Constitution, shall be primary in matters of fiscal control over which other authorities may dictate.

ARTICLE 7o. The surveillance of the tax management that is carried out by Ios fiscal control bodies is autonomous and is exercised independently on any other form of administrative inspection and surveillance.

TITLE I.

FISCAL CONTROL: YOUR TECHNICAL PRINCIPLES, SYSTEMS, AND PROCEDURES.

CHAPTER I.

PRINCIPLES AND SYSTEMS.

ARTICLE 8o. The surveillance of the fiscal management of the State is based on the efficiency, the economy, the efficiency, the equity and the assessment of the environmental costs, in such a way that it allows to determine in the administration, in a given period, that the The allocation of resources is the most appropriate to maximize their results; that in equal conditions of quality the goods and services will be obtained at the lowest cost; that their results will be achieved in a timely manner and will be related to their objectives and goals. It also allows the identification of the recipients of the economic action and the analysis of the distribution of costs and benefits between economic and social sectors and between territorial entities and quantifying the impact by the use or deterioration of the natural resources and the environment and assess the management of protection, conservation, use and exploitation of them.

The surveillance of the tax management of individuals is advanced on the management of state resources to verify that they meet the objectives set by the administration.

ARTICLE 9o. For the exercise of fiscal control, control systems such as financial, legality, management, results, review of accounts and evaluation of internal control may be applied in accordance with the provisions of the next.

PARAGRAFO. Other control systems, which involve more technology, efficiency and security, may be adopted by the Comptroller General of the Republic, by special regulation.

ARTICLE 10. Financial control is the examination carried out, based on the general acceptance audit rules, to establish whether the financial statements of an entity reasonably reflect the outcome of its operations and the changes in its financial situation, verifying that in the preparation of the same and in the transactions and transactions that originated, the rules prescribed by the competent authorities and the principles of accounting universally were observed and complied with. accepted or prescribed by the General Counter.

ARTICLE 11. The review of legality is the verification that is made of the financial, administrative, economic and other operations of an entity to establish that they have been performed in accordance with the applicable rules.

ARTICLE 12. The management control is the examination of the efficiency and effectiveness of the entities in the administration of the public resources, determined by the evaluation of their administrative processes, the use of indicators of public profitability and performance and the identification of the distribution of the surplus that they produce, as well as the beneficiaries of their activity.

ARTICLE 13. The results control is the test that is performed to establish to what extent the subjects of the surveillance achieve their objectives and fulfill the plans, programs and projects adopted by the administration, in a given period.

ARTICLE 14. The review of accounts is the specialized study of documents that support legal, technical, financial and contacably the operations carried out by the officials of the treasury during a given period, with a view to establishing the economy, efficiency, efficiency and equity of your actions.

ARTICLE 15. For the purpose of this law, the report shall be considered to be accompanied by the documents that support the legal, technical, financial and accounting support of the operations carried out by the officials of the treasury.

ARTICLE 16. The Comptroller General of the Republic shall determine the persons required to be accountable and shall prescribe the methods, forms and time limits for this.

However, each entity shall conform to a single account to be submitted by the head of the respective body to the Comptroller General of the Republic.

ARTICLE 17. If, after the review of accounts held by those responsible for the exchequer, evidence of fraudulent or irregular operations related to them has been carried out, the phenomenon will be lifted and the tax trial will begin.

ARTICLE 18. The internal control assessment is the analysis of the control systems of the entities subject to the surveillance, in order to determine the quality of the control systems, the level of trust that can be granted and if they are efficient and efficient in the fulfilment of its objectives.

The Comptroller General of the Republic will regulate the methods and procedures for carrying out this assessment.

ARTICLE 19. The control systems referred to in the preceding articles may be applied individually, in combination or in total. It may also be possible to use any other generally accepted.

CHAPTER II.

TAX CONTROL MODES.

ARTICLE 20. The surveillance of the fiscal management in the entities that make up the central and decentralized sector will be done according to the provisions of this Law and the control bodies must exercise vigilance. to evaluate the management set and its results.

ARTICLE 21. The surveillance of fiscal management in mixed-economy societies will be done taking into account the participation that the State has in the social capital, evaluating the business management in such a way. to determine that the management of public resources is carried out in accordance with the principles set out in Article 8of this Law.

The results obtained will have an effect only on the state contribution.

PARAGRAFO 1o. In companies other than the mixed economy in which the state participates in fiscal surveillance, it will be done in accordance with the provisions of this article.

PARAGRAFO 2o. The Comptroller General of the Republic will establish the procedures to be applied in compliance with the provisions of this article.

ARTICLE 22. The fiscal surveillance in the entities that the Decree 130 of 1976 deals with, different from those of the mixed economy, will be taken into account if it is a matter of contribution or participation by the State. In the first case the surveillance will be limited until the delivery of the contribution, in the second one will be applied as provided in the previous article.

ARTICLE 23. In societies and other entities referred to in Articles 21 and 22, fiscal management surveillance will be performed without prejudice to the tax review which, in accordance with legal rules, is exercised in them.

ARTICLE 24. The report of the tax reviewer to the general assembly of shareholders or members ' board shall be referred to the respective fiscal control body at a time of not less than ten (10) days prior to the date in which the assembly or board shall be held. The tax reviewer must also present the reports requested by the comptroller.

PARAGRAFO. Any contractual stipulation involving the unawareness of items 21, 22, 23 and 24.

ARTICLE 25. The contralories shall exercise fiscal control over the contracts concluded on the basis of Article 355 of the National Constitution through the entities that grant them.

ARTICLE 26. The Office of the Comptroller General may exercise control over the accounts of any territorial entity, without prejudice to the control of the departmental and municipal contracts, in the following cases:

(a) At the request of the departmental, district or municipal government, of any permanent commission of the Congress of the Republic or of the half plus one of the members of the territorial public corporations.

b) At the request of the citizenry, through the mechanisms of participation established by the Law.

ARTICLE 27. The supervision of the fiscal management of the National Coffee Fund, its investments and transfers, as well as other assets and state funds administered by the National Federation of Coffee Growers, will be exercised by the Comptroller General of the Republic by means of the methods, systems and procedures of fiscal control provided for in this Law.

ARTICLE 28. The supervision of the tax management of the entities that administer or manage parafiscal contributions shall be exercised by the respective fiscal control bodies, according to the order to which they are belong, in the terms set forth in this Act.

ARTICLE 29. The tax control shall be exercised on the income obtained in the exercise of the monopolies of luck, chance and liquor for health and education services, without prejudice to what is established in the Special Act that regulates them.

ARTICLE 30. The Comptroller General of the Republic shall monitor the exploration, exploitation, benefit or administration that the State directly or through third parties, of the mines in the national territory without prejudice to the legal figure that use.

ARTICLE 31. The fiscal control bodies will be able to contract the surveillance of tax management with Colombian private companies, prior to the idea of their suitability for the State Council. These will be chosen by merit contest in the following cases:

(a) When the availability of technical, economic and human resources does not allow the control body to exercise fiscal surveillance in a direct manner.

b) When specialized technical knowledge is required.

c) When for reasons of economic convenience I will be more favourable.

PARAGRAFO. The Comptroller General of the Republic will determine the conditions and bases for the conclusion of the merit contest, as well as the qualities that the Colombian companies must gather for the exercise of the relevant tax control.

The contracts will be concluded between the respective comptroller and the selected contestant from the budget of the corresponding tax control body. The information you know and handle these contractors will be for the sole use of the contracting tax control body.

ARTICLE 32. The organs of the tax control may know and evaluate, at any time, the programs, tasks and work papers of the companies engaged in their jurisdiction and request the presentation periodic reports of general or specific reports. The recommendations to be made by the respective fiscal control bodies to the contractor will be mandatory and enforced.

In any case, the fiscal control bodies will be able to resume the surveillance of tax management at any time, according to the contract terms.

ARTICLE 33. The Contractor will be able to review and suggest the phenomenon of the accounts. If you find any observations, you must forward them with all your supports, so that in the respective fiscal control body the tax liability process can be carried out if it is from the case.

ARTICLE 34. The fact of hiring a private entity does not exempt the audit body from responsibility in the performance of its functions.

CHAPTER III.

OF BUDGET ACCOUNTING, DEBT REGISTRATION, CERTIFICATIONS, AUDIT AND REPORTING.

ARTICLE 35. The National Treasury is understood to be the set of rights, resources and property of the Nation. It includes the National Treasury and the fiscal goods; the first consists of the money, the rights and values that enter the national offices to any title; the tax goods that belong to it as well as those that it acquires according to right.

ARTICLE 36. The accounting of the execution of the budget, which in accordance with article 354 of the National Constitution is the responsibility of the Comptroller General of the Republic, shall record the execution of the income and expenses that affect the accounts of the National Treasury, for which it shall take into account the recognitions and the collections and the payment and payment orders.

To configure the treasury account, the following factors will be observed, among others: the totality of the balances, flows and movements of cash, current rights and obligations, and accrued income and expenses as a result of the budget execution.

ARTICLE 37. The general budget of the public sector is made up of the consolidation of the general budgets of the Nation and the decentralized entities territorially or for services, any the order to which they belong, of the individuals or entities that handle funds of the Nation, but only in relation to those funds and of the funds without legal status called special or account created by law or with authorization of this.

It is up to the Comptroller General of the Republic to standardize, centralize and consolidate the accounting of the execution of the general public sector budget and establish the form, opportunity and responsibility of the submission of the reports on such implementation which shall be audited by the respective fiscal control bodies.

PARAGRAFO. The Comptroller General of the Republic shall establish the respective nomenclature of accounts in accordance with the Organic Law of the Budget.

ARTICLE 38. The Comptroller General of the Republic shall submit to the House of Representatives for examination and for the purposes of its examination, at the latest by 31 July, the general account of the budget and of the treasury for that fiscal year.

This should be properly discriminated against and supported, with the notes, annexes, and comments that are in the case, indicating whether there is a surplus or deficit and including the opinion of the Comptroller General on its reasonableness.

PARAGRAFO. If six (6) months from the date of submission to the House of Representatives of the account referred to in this Article, no decision has been taken, it shall be deemed to have been approved.

ARTICLE 39. The general budget and treasury account will contain the following items:

(a) States which show in detail in accordance with the annual settlement decree of the General Budget of the Nation, the recognition and collection of current income and capital resources accounted for during the financial year whose account is yields, with an indication of the computation of each row and the increases and decreases with respect to the budget calculation;

b) States that show the execution of the appropriations or appropriations, detailed in accordance with the decree of annual liquidation of the General Budget of the Nation, presenting in comparative form the amount initially appropriate, its modifications and the resulting total, the amount of the expenditure incurred, the reserves set up when the financial year is settled, the total of the expenditure and reserves and the balances;

(c) A comparative state of the execution of the revenue and expenditure referred to in the first two literals of this Article, in such a way as to reflect the resulting surplus or deficit. This information shall be submitted in such a way as to distinguish sources of funding from the budget;

d) Detail of the expenses paid during the tax year whose account is rendered, from the reserves of the immediately preceding term;

e) The balances of the various accounts that make up the treasury.

PARAGRAFO. The Comptroller General of the Republic will make the recommendations that he considers pertinent to the House and the Government and will also inform the state of the national public debt and the territorial entities at the end of each fiscal year.

ARTICLE 40. It will be the function of the Comptroller General of the Republic to endorse the appropriation reserves that are constituted at the end of each term and that the Ministry of Finance and Public Credit must submit to it. for budget execution accounting purposes.

ARTICLE 41. For compliance with what is established in the ordinal 11 of article 268 of the Political Constitution, the Comptroller General Republic shall certify the state of affairs of the State's finances and report to the Congress and the President of the Republic, taking into account, among others, the following factors:

1. Total revenue and expenditure.

2. Fiscal and budgetary surplus or deficit.

3. Cash surplus or deficit and effective operations.

4. Record of the total debt.

5. Financial results of decentralised entities territorially or by services.

The certification will be accompanied by the indicators of management and results that the Comptroller General of the Republic points out.

PARAGRAFO 1o. For the purposes of this Article, the State means the Public Power Ramas, the autonomous and independent bodies such as the control and electoral bodies, the mixed-economy societies and the bodies that integrate the structure of the departmental and municipal administration.

PARAGRAFO 2o. The Comptroller General of the Republic will prescribe the rules of enforced compliance in this matter and will point out who are the persons required to produce, process, consolidate and submit information. required to comply with this provision, as well as the opportunity to do so, without prejudice to the fact that this work is done by the Comptroller General in the cases that it deems appropriate. The non-referral of such reports shall result in the application of the penalties provided for in this Act.

ARTICLE 42. No report, account or data on the situation and financial operations of the Nation or on State fiscal statistics and any other exclusive jurisdiction of the Comptroller General of the Republic, it shall be official in character if it does not come from it, unless, before its publication, it has been authorized by it.

The rules issued by the Comptroller General of the Republic in terms of fiscal statistics of the State will be applied by all national and territorial statistical offices and their corresponding decentralized entities.

ARTICLE 43. In accordance with the provisions of the 3o., article 268 of the National Constitution, the Comptroller General of the Republic it shall keep the register of the public debt of the Nation and the decentralized entities territorially or for services whatever the order they belong to and those of a private character when any of the above is their guarantor or codebudora.

For the sole purpose of guaranteeing the proper registration of the public debt, any document constituting the public debt must be submitted to the Comptroller General's endorsement.

PARAGRAFO. The entities referred to in this Article shall register and report to the Comptroller General of the Republic, in the form and opportunity that it prescribes, the movement and the balance of those obligations.

Without prejudice to the foregoing, the tax control bodies shall keep the register of the public debt of the territorial entities and their respective decentralised bodies.

ARTICLE 44. The resources from loans guaranteed by the Nation and granted to any person or entity shall be subject to the supervision of the Comptroller General of the Republic in the Terms that are set out in this Law and in the regulations that the Comptroller General will issue for the purpose.

PARAGRAFO. In the case of entities not subject to the supervision of the Comptroller General of the Republic, the control provided for in this Article shall only apply to projects, plans or programmes financed by the borrowing.

ARTICLE 45. The Comptroller General of the Republic, or his delegate, will witness the acts of issuance, withdrawal of circulation, and the incineration of currency by the State. The emission shall be made up of the minutes of destruction of the plates or moulds used for the purpose, which shall be signed by the Comptroller or his delegate.

ARTICLE 46. The Comptroller General of the Republic for the purpose of presenting to Congress the annual report on the state of natural resources and the environment, will regulate the obligation to the supervised entities to include in any project of public investment, agreement, contract or authorization of exploitation of resources, the valuation in quantitative terms of the cost benefit on conservation, restoration, substitution, management in the general nature of the natural resources and degradation of the environment, as well as accounting and timely reporting to the Comptroller.

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