Press Bulletin, 21 July 2014

FUTURE OF THE ACCOUNTING PROFESSION IN COLOMBIA AND IMPACT OF CONVERGENCE ON THE REAL SECTOR

"The Central Board of Accountants participates in the National Convergence to International Financial Reporting and Assurance Accounting Standards event"

"National Convergence Event to International Financial Information and Assurance Standards" Hote
l Intercontinental - Medellin 21 and 22 July 2014.

Bogota, D.C., July 21, 2014 The Superintendency of Companies holds "National Convergence Event to International Financial Information Accounting and Assurance Standards". The meeting takes place at the facilities of the Hotel Intercontinental in Medellin on 21 and 22 July. It will provide a detailed analysis of the future of the accounting profession and the impact of convergence on the real sector.

The event will discuss four thematic axes:

1. Assurance
2. Future of the Accounting Professio
n 3. Business Problem and
4. State Relationship with Its Users

The sessions will provide a space for those involved in the convergence process to contribute their experiences and visions under a participatory methodology. It will also have the participation of more than 400 experts both face-to-face and virtually.

Within the framework of the thematic axis on the future of the accounting profession, the roles of the Special Administrative Unit Central Board of Accountants and the Technical Council of the Public Accounting Council will be analyzed. The new regulatory frameworks issued in compliance with the law, the model to be followed so that the bodies of the accounting profession have the necessary resources and with sufficient autonomy and independence in their formation and operation, and finally the synergies that could be established between the bodies of the accounting profession, regulators, supervisors and academy to make discussions on adjustments or modifications to regulatory frameworks much more agile.

The UAE JCC acts as a Disciplinary Tribunal and Registration Body of the accounting profession, is responsible for the inspection and monitoring of the profession, including within the scope of its competence public accountants and other entities that provide their services to the general public typical of accounting science as a liberal profession.