Although Colombia has recently adopted the International Financial Reporting Standards (IFRS) for accounting and tax purposes, online accounting services industry has not been well developed in Colombia.
Online accounting services are not specifically regulated by Colombian Law.
Accountants may share the results of their work with their clients via web.
Colombian Law regulates traditional accounting services. The way how accountants provide such services is regulated by Law 43 of 1990. Individual accountants must be registered with the Junta Central de Contadores to be able to exercise their profession.
For an accounting enterprise to be incorporated, at least 80% of the shareholders must be registered accountants and such activity must be included on its social object. Such enterprises must be registered with the accounting control entity Junta Central de Contadores.
There are no official figures. Remote or completely virtual accounting market in Colombia is still unexplored.
Alvaro Parra Gómez
Bernardo Rodríguez Ossa