Services · Statutory audit
A statutory auditor who forms an opinion, not one who signs.
Revisoría fiscal is a Colombian control office with statutory duties: an opinion on the financial statements, verification of legal and statutory compliance, evaluation of internal control and reports to the shareholders' meeting. Some companies must appoint one. Many discover it late.
Three things worth knowing before you start.
5.000 / 3.000
Minimum wages in assets or in revenue.
A company that exceeded either threshold at the previous 31 December must appoint a statutory auditor. Exceeding one of the two is enough, and each year's test uses that year's minimum wage.
By law
Some companies are required regardless of size.
Corporations (S.A.) and branches of foreign companies have a statutory auditor by law. An S.A.S. is caught by the thresholds or by its own bylaws.
Not a signature
An unsigned return from an obliged company is exposed.
Where the law requires a statutory auditor, filings that should carry that signature and do not can be treated as not filed, with the late-filing penalties that follow.
Scope
What the engagement covers.
Opinion on the financial statements
On whether they fairly present the company's position.
Legal and statutory compliance
Bylaws, shareholder decisions, tax and labour obligations.
Internal control
Evaluation, findings and written recommendations.
Certifications
Those required by law, by banks and by third parties.
Signing returns
Where the law requires the statutory auditor's signature.
Reports to the board and shareholders
Periodic, written and supported.
How it works
A statutory audit that actually works.
Revisoría fiscal is not an event in March. It is continuous oversight that is documented as it happens.
- January01
Planning and testing
Annual work plan, internal control evaluation and testing over the close.
You receiveWritten annual audit plan.
- March02
Opinion and meeting
Opinion on the financial statements and the report to the annual shareholders' meeting.
You receiveSigned opinion and report.
- April03
Signing the return
Review and signature of the company's income tax return.
You receiveReturn signed.
- Each quarter04
Follow-up
Tax, labour and statutory compliance, with findings in writing.
You receiveQuarterly findings report.
- December05
Close
Certifications, audit requirements and preparation for the next opinion.
You receiveCertifications and closing letter.
In short
The essentials, in three lines.
- 01Revisoría fiscal is a statutory control office under Colombian law: the statutory auditor gives an opinion on the financial statements and verifies legal, statutory and tax compliance independently of management.
- 02A company must appoint one if at the previous 31 December it held gross assets of 5.000 minimum monthly wages or gross revenue of 3.000; exceeding either threshold is sufficient.
- 03Corporations (S.A.) and branches of foreign companies are required to have a statutory auditor by law regardless of size.
Who answers
A licensed Colombian Public Accountant, not a filing agent.
Kathiuska Villegas Padilla is a Contadora Pública with a postgraduate specialization in Tax Management and IFRS certification. She has been a statutory auditor, a finance and accounting director and a group controller before directing the firm. She sets the technical position on every engagement and signs what leaves the office.
We work inside your company's software
QuickBooks
- Zeus
Questions
What people ask before they start.
Take gross assets and gross revenue at the previous 31 December and compare each against the thresholds, measured in that year's minimum wages: 5.000 minimum wages of assets or 3.000 of revenue. Exceeding either one is enough. Corporations and branches of foreign companies are required by law regardless of size, and bylaws can impose the obligation voluntarily. We check your figures and answer in writing at no cost.
No, and we will not propose it. The statutory auditor's value is independence from the people who prepared the numbers. Where we already keep your books we can help you appoint an independent statutory auditor; where we act as statutory auditor, your accounting is kept by someone else.
The obligation does not wait for anyone to notice. Filings that should carry the statutory auditor's signature and do not can be treated as not filed, with late-filing penalties calculated from the original due date, and the appointment itself has to be registered with the Chamber of Commerce. The sooner the position is regularised the smaller the exposure.
Not necessarily. Banks, investors and counterparties often ask for a statutory auditor's opinion or for specific certifications, and a company that is not legally obliged can still appoint a statutory auditor voluntarily to satisfy them. We can tell you which of the two you are actually being asked for.
Often needed alongside this.
Accounting and IFRS reporting
Full-cycle bookkeeping in your software, monthly IFRS statements and a management report in English.
Read moreCorporate tax compliance and planning
Income tax, VAT, withholding, ICA, information returns and answers to tax authority notices.
Read moreFractional CFO
Budgets, cash flow forecasting, KPIs and the management reporting a board or investor expects.
Read more
Free initial call
Start with a call, not a contract.
Thirty minutes to understand what you are trying to do in Colombia, what already exists and what the sequence should be. You leave with a written next step whether or not you engage us.
What arrives after the call
24 hours
A written proposal within 24 hours, with scope, deliverables, owners and fees. Third-party costs are itemised separately and paid at cost.
Check if we must appoint one.
Free initial call. Written proposal. We reply the same business day.
Talk to the firm
Two ways to start. Both answer today.
Free initial call
Thirty minutes that order the year.
- TodayWe write back to confirm a time.
- 30 minA call with the director, in English.
- 24 hA written proposal with scope and fees.
WhatsApp, direct
Message us now. The firm replies, not a bot.
A specific question, a deadline this week or a letter from the tax office. We reply the same business day.
+57 316 664 6068
Monday to Friday, 8:00 to 18:00 Colombia time