Key Benefits:
LAW 716 OF 2001
(December 24)
Official Journal No 44.661 of 29 December 2001
For which rules are issued for the consolidation of accounting information in the public sector and provisions on tax matters and other provisions are issued.
COLOMBIA CONGRESS
DECRETA:
ARTICLE 1o. OF OBJECT. 1 of Law 901 of 2004. The original text is as follows: > This law regulates the obligation of the public sector entities to advance the administrative steps necessary to purge the accounting information, so that in the financial statements it will be revealed in reliable form of the economic, financial and patrimonial reality of public entities.
For the purpose, the real existence of assets, rights and obligations, which affect the public patrimony, will have to be established by purging and punishing the securities that present an uncertain payment or payment status, in order to proceed, if the case is removal or incorporation in accordance with the guidelines of this law.
ARTICLE 2o. APPLICATION FIELD. 1 of Law 901 of 2004. View Notes of Vigency > Comprises the organisms that make up the various branches of public power at the national level; control entities, electoral bodies, entities and state bodies subject to special conditions, entities decentralised territorially or by services and any other entity that manages or manages public resources and only in relation to public resources; provided that they are part of the General Balance of the public sector.
ARTICLE 3o. ADMINISTRATIVE MANAGEMENT. 1 of Law 901 of 2004. View Notes of Vigency > Public entities will have to advance the necessary administrative management, in order to allow sufficient and relevant information and documentation to prove the reality and existence of the operations to proceed with set the balances to be purged.
ARTICLE 4. CLEARANCE OF ACCOUNTING BALANCES. 1 of Law 901 of 2004. View the Editor's Notes of Vigency and Notes. Article as amended by Article 2 of Law 901 of 2004. The new text is as follows: > Public entities shall carry out the necessary steps to enable the accounting values resulting from the previous action to be purged, where appropriate to one of the following conditions:
(a) Securities that affect the assets situation and do not represent certain rights, property or obligations for the entity;
b) Rights or obligations that notwithstanding their existence are not possible to be performed through the coactive jurisdiction;
(c) Rights or obligations in respect of which it is not possible to exercise its collection or payment, as it operates any causal related to its extinction, as the case may be;
(d) Rights or obligations that lack adequate supporting documents through which the relevant procedures can be applied to obtain their collection or payment;
e) When it has not been legally possible to charge any person the value for the loss of the goods or rights;
f) When the cost benefit ratio is assessed and established, it is more expensive to advance the process in question;
g) Real-owned properties that are not eligible for title and for which the certification process needs to be carried out to incorporate or remove accounting information, as appropriate.
PARAGRAFO 1o. For the purposes of compliance with the provisions of this law, institutions may contract the accounting clearance process with public accountants, meter firms or universities that have a public accounting faculty duly recognized by the National Government.
PARAGRAFO 2o. The rights and obligations in this article, and the amount of which is equal to or less than five (5) current minimum legal monthly salaries, will only require summary proof to be purged of the accounting records of public entities.
PARAGRAFO 3o. State entities to relate the accreances to their payment pending payment shall be permanently in a semi-annual manner, to draw up a bulletin of delinquent debtors, when the value of the loans exceeds a period of six (6) months and an amount greater than five (5) legal minimum wages in force. This bulletin shall contain the full identification of the delinquent debtor, either natural or legal person, the identification and amount of the act generating the obligation, its due date and the term of termination thereof.
The bulletin will be sent to the General Accountant of the Nation during the first ten (10) calendar days of the months of June and December of each fiscal annuity. The General Accounting Office of the Nation will consolidate and subsequently publish on its website the bulletin of delinquent debtors of the State, on July 30 and January 30 of the corresponding year.
The Comptroller General of the Republic and other fiscal control bodies shall verify compliance by state entities with this obligation.
ARTICLE 5o. COMPETITION AND ADMINISTRATIVE RESPONSIBILITY. 1 of Law 901 of 2004. View Notes of Vigency. Article as amended by article 8 of Law 901 of 2004. The new text is as follows: > Responsibility for the purging of the accounting values shall be borne by the Head or Director of the institution; in the case of central sector entities in accordance with the regulations which for the purpose of the the National Government. In the decentralised bodies of the various orders the competition will fall on the highest collegiate management body, call board, board of directors, board of directors, board of directors or those who do their times and for the director, the manager or the president, as called.
PARAGRAFO 1o. The Heads or Directors of entities and committees, boards or boards of directors shall report in detail annually on the purging of the Congress of the Republic, departmental assemblies and councils municipal and district on the result of the management carried out for the implementation of this law, when they are derived from actions in the national, departmental, district and municipal sector respectively.
PARAGRAFO 2o. The competent public servants will be responsible administratively and disciplinarily in the event in which the public entity they represent, has not used or has misused, the powers provided by this law to sanitize public accounting information and to disclose in a reliable manner its economic and financial reality.
ARTICLE 6o. COMPLEMENTARY ACTIONS. 1 of Law 901 of 2004. View Notes of Vigency > The terms of this law do not replace the exercise of the relevant legal actions arising out of the irregular or omission of the duties and responsibilities of the public servants or third parties. involved.
ARTICLE 7o. PROCEDURE. 1 of Law 901 of 2004. View Notes of Vigency > The General Accounting Office of the Nation shall establish the procedures, for the accounting records of the operations resulting from the application of this law.
ARTICLE 8o. MONITORING AND CONTROL. 1 of Law 901 of 2004. Article as amended by article 9 of Law 901 of 2004. View Notes of Vigency. The new text is as follows: > Internal Control Offices and Heads, Auditors, or who does their time in accordance with the requirements set out in 2or, 3or, and 12, of Law 87 of 1993, shall evaluate in a separate, independent and objective manner compliance with this law, informing the highest competent authority of the body or entity on the deficiencies or irregularities found.
The fiscal control bodies, within the scope of their jurisdiction, will review and evaluate the management, studies, documents and results that support the actions and decisions of the public entities in application of this law, for which perform special character audits.
ARTICLE 9o. PREVALENCE. 1 of Law 901 of 2004. View Notes of Vigency > The provisions of this law apply in preference to the special provisions intended for public entities.
ARTICLE 10. INVENTORY DEBUGGING. 1 of Law 901 of 2004. View Notes of Vigency > Goods that are stored in deposits under the responsibility of the DIAN, as of June 30, 2000, without the same investigation or administrative process have been initiated or have not been claimed, may be the object of provision through donation, allocation, destruction or sale, as appropriate. The National Government shall regulate the procedure to make the application of this standard effective.
ARTICLE 11. GOODS RECEIVED AS PAYMENT. 1 of Law 901 of 2004. View Notes of Vigency > The movable and immovable property delivered to the Directorate of National Taxes and Customs in payment, within the conformal and administrative processes of the financial institutions supervised by the Banking Superintendence, shall result in the removal of the accounting records and the current account of the debtor, the obligations of the debtor.
The DIAN may surrender to the Central Investment Bank S. A., or any other entity authorized by the Ministry of Finance, the movable or immovable property received in payment in accordance with the terms provided for in the preceding paragraph. For the handling of such goods, the entity shall constitute a special account in the name of the National Treasury. The National Government shall regulate the application of this Article.
ARTICLE 17. 1 of Law 901 of 2004. View Notes of Vigency > The limit of expenses provided for in Article ninth of Law 617 of 2000 for the year 2001 will continue on a permanent basis, adding with the auditing fees of the industrial companies and State trade, metropolitan areas, service companies and mixed economy companies. Public establishments are part of the department's budget.
ARTICLE 21. VALIDITY AND DEROGATIONS. This law shall apply from the date of its publication and shall apply to the accounting values recorded in the financial statements as at 31 December 2000, without prejudice to the revisions to be made by the The law of the Court of Auditors. The validity shall be until 31 December of the two (2) years following the date of its publication, with the exception of Articles 10 (10) to 16 (16), and shall repel the rules which are contrary to it, in particular the second paragraph of the Article 506 of the Tax Statute and article 850-1 of the Tax Statute.
The President of the honorable Senate of the Republic,
CARLOS GARCIA ORJUELA.
The Secretary General of the honorable Senate of the Republic (E.),
LUIS FRANCISCO BOADA GOMEZ.
The President of the honorable House of Representatives,
GUILLERMO GAVIRIA ZAPATA.
The Secretary General of the honorable House of Representatives,
ANGELINO LIZANO RIVERA.
COLOMBIA-NATIONAL GOVERNMENT
PUBLISH AND COMPLY.
Dada in Bogotá, D. C., on December 24, 2001.
ANDRES PASTRANA ARANGO
The Minister of Finance and Public Credit,
JUAN MANUEL SANTOS CALDERÓN.
