On October 25, 2023, Agreement number IGC-040 was published in the Official Gazette. NAME Level 1 2023 through which it authorized the manual of accounting standards for savings and credit cooperatives and for savings and credit cooperatives with comprehensive activities and various services.
This agreement comes into force as of its issuance, it will be implemented by the Cooperatives during the course of this year so that they have it updated in the accounting system they manage or the one that best suits them and its implementation will be verified by the Inspection Department. starting January 1, 2024.
Likewise, Agreement number IGC-070-2023 is also announced, in which the creation of the VAT system for surveillance and early warning selection was approved and establishes the mandatory nature of its use.
According to the information on total assets, the cooperatives will be segmented into levels and categories, based on the following table:
It is worth mentioning that Cooperatives, Federations, Confederations and Service Centers must send the information in the following way:
This agreement comes into force as of September 5, 2023.
For more information you can contact our offices.
Mario Salazar mario.salazar@gt.Andersen.com
Mauro Hernandez mauro.hernandez@gt.Andersen.com
Evelyn Guerra evelyn.guerra@gt.Andersen.com
