In May, approval could be given to the regulation of the law that obliges real estate agents, pawn shops and lawyers, among others, to report suspicious operations of more than $10,000.
The socialization process of the regulation of the Law for the regulation of designated non-financial professional activities (APNFD) has already ended, and Congress estimates that next month it could be approved.
The amendment to the money laundering law approved in the first debate requires accountants, lawyers and real estate agents to report suspicious transactions made by their clients.
Bill 19.951 reforming the Law on Narcotic Drugs, Psychotropic Substances, Drugs of Unauthorized Use, Related Activities, Legalization of Capital and Financing of Terrorism was approved in a first debate by the Legislature on April 21.The new regulation establishes the obligations on professionals engaged in non-financial activities, such as lawyers, accountants, notaries and real estate agents, once the law is fully approved and enacted.
Accounting professionals in Latin America and other regions will meet in Managua on October 1st-3rd.
The Institute of Chartered Accountants and the American Accounting Association have organized the conference "Integral Training in Support for Economic Development" to be held at the Crowne Plaza Convention Center in Managua, Nicaragua, from 1 to 3 October this year.
A bill could change the rules of the profession of certified public accountants and external auditing services in the country.
Movimiento de Contadores Públicos Independientes (The Independent Accountants Movement) has called for the creation of a commission to discuss the bill which they say could harm practice of the profession.
The bill "seeks to repeal Act 57 of September 1, 1978 and with that change the rules of the profession of certified public accountants (CPA) and external auditing services in the country", reported Prensa.com.
A draft bill intends to update the regulation of the professions of external auditors and public accountants.
This was announced by Alberto Diamond, Superintendent of Banks in Panama, who along with the chief of Trade and Industry, Ricardo Quijano stressed the need to have an updated legal framework which includes the good practices applied around the world in this field.
Most companies manage accounting systems in order to meet tax obligations, but few use systems that meet international standards.
A modern accounting system aligned with international standards is a key tool for financial or administrative decisions, said the president of Nicaraguan Association of Accountants, Freddy Solis Ibarra.
The expert says that accounting systems which do not comply with global standards are preventing public institutions from being able to access loans from international banks.
The country has not modernized the law regulating the profession of certified public accountants.
The current law hasn’t kept pace with developments over the last decade in accounting and auditing activities.
The Superintendent of Banks in Panama, Alberto Diamond, an auditor by profession, suggested to take advantage of the current process to reform the financial system to modernize Law Act No.
Administrative dispositions on the functions and responsibilities of accountancy professionals registered with the Tax Revenue Authority.
On July 6 the Guatemalan Tax Revenue Authority (SAT) published agreement number 08-2010 containing "Administrative Dispositions on the functions and responsibilities of accountancy professionals registered with the Tax Revenue Authority".
The Guatemalan Superintendent of the Tax Administration is investigating income tax return irregularities.
Since the month of April, the Superintendent of the Tax Administration (SAT) has been reviewing Guatemalan bookkeepers who manage and submit the financial statements for the accounts of more than 215,000 businesses.