On May 28, 2025, CLB SFC extended deadline for experts, academics, public to review and comment on changes made to Basic Accounting and Financial Circular (CBCF).
The new deadline to send corresponding suggestions and comments is Jun. 24, 2025.
On Jun. 6, CLB SFC requested comments to modificy the CBCF.
CLB SFC requested comments to modify the Basic Accounting and Financial Circular (CBCF) re simplification process to comply with quality, clarity and efficiency criteria.
Highlights
The strategic simplification project is based on compliance with Law 2085 of 2021, and in accordance with provisions of Colombia's 2022-2026 National Development Plan.
CLB SFC aims to ensure participation of interested parties in the simplification process.
Consultation
Comments must be submitted by email no later than Jul. 1, 2024 at 5:00 pm.
May 9, 2025 CLB SFC, Second Phase
On May 9, 2025, CLB SFC invited experts, academics, general public to learn about and comment on changes introduced to CBCF as part of revision that began in 2024.
Renamed: Basic Circular on Risks, Prudential Affairs, Financial Information (CBRAPIF).
New structure to adopt supervisory best practices, international standards, and information needs to safeguard the confidence and stability of the financial system.
Four parts: risks; prudential matters, legal controls; financial information; other topics.
Review process will be complemented by developments requiring special instructions.
Such as those re IFRS 17 and Technical Reserves, IFRS 9, SARAS, and FNG Solvency.
Comments and observations must be emailed no later than Jun. 9, 2025 using excel.
May 28, 2025 CLB SFC Deadline Extension
On May 28, 2025, CLB SFC extended deadline for experts, academics, public to review and comment on changes made to Basic Accounting and Financial Circular (CBCF).
The new deadline to send corresponding suggestions and comments is Jun. 24, 2025.
